The Bitcoin Group, the American original. For over the last 10 seconds, the sharpest citotis, the best bitcoins, the hardest cryptocurrency talk. We'd like to welcome our panelists, Blake Anderson, cryptographic economist. Hi everybody, thanks for having me on tonight's episode. Jimmy Song, Bitcoin developer. Thanks for having me on. Tone Vays from Liberty Life Trail. Hey everyone, good to be back, Mr. Weak. Jeffrey Jones from the Bitcoin News Show. Hello and welcome, Bitcoin World. And I'm Thomas Hunt from the World Crypto Network, reminding you all to give us a thumbs up and celebrate my birthday. Moving on to issue one. Oh, and check out our new lower thirds. Thank you, Google. issue one massive ransomware attack hits 99 countries. Software released by the NSA as part of the Vault 7 spy tools has affected more than 99 countries, including the National Health Service, Federal Express, attacking in Russia, Ukraine and Taiwan, locking up the computers with ransomware, crypto locker, forcing them to pay $300 in Bitcoin. Again, is it Bitcoin's fault for this incredible spread of ransomware? Yeah, it's Bitcoin's fault. We need to attack Bitcoin viciously and get some kind of revenge here. I don't know what Bitcoin was thinking when it was doing all this stuff, but I mean, come on. There's a deeper culprit here too. The internet, electricity in general at large. We need to shut this stuff off in a hurry. Our stuff is just going to start getting a really out of control. I think it's interesting. It seems like a lot of the attack focused on Russia, Japan and Taiwan. Those places, I think, do not have as stringent, itill compliant risk management standards as some of the big US companies do. They're going to have software auth server. They're going to have a specific image that they're running in different business units. They're not going to make modifications to that secure image until they know not only the software coming in has been vetted, but there's multiple echelons of protection against just having non-vetted software going into your stuff. Any company, I'm really surprised that FedEx didn't have their stuff tight enough to protect against this, but it's also not just your typical hole. It's an unpatched hole that was actually used and scripted into various tools that were used by ABC agencies. This is not good. Hopefully everybody upgrades your stuff and that keeps you secure, but there's issues and software glitches that people can have that make updating difficult because they've already got so much spyware and stuff. It's not always easy to get your machine to a secure baseline of exactly all the most updated stuff. I mean, most people are not power users. Definitely try to update your Microsoft Windows session whenever it tells you there's a security update. If not, you're not secure. So, at home, take the precaution of updating an at work, get an image that you're running off of that you can support and then stick with that and then make changes to it when you're ready because to just let these kinds of bugs in is not good. So what could have happened is that at Federal Express or at these places, they may have had security that was an image that they were not ready yet to patch to the next iteration which would have secured this hole because they were not moving forward without vetting all this stuff. They may have been too slow and been vulnerable to it. So there's two different, you know, end to the spectrum where you can be vulnerable to this stuff. It seems like that's what the criminals were aiming for when they went for places like Russia, Japan and Taiwan. So it seems like maybe they know what they're doing. It seems like a little bit bigger issue than I thought at first before I saw the metrics start to come in. It doesn't sound good. So make sure that you have the software installed that people that are trying to support you, assume is the baseline, that they assume is, you know, that you have all the up to date infrastructure that you need for them to continue to provide you software that works in a secure fashion. Jimmy Song. Yeah. First of all, this thing has like the best name ever, WannaCry, right? That's just a brilliant name for any sort of like... Anyway, part of what Blake said, it's in these countries that may or may not be using a lot of pirate software and they might not have access to some updates. So that might be it. But essentially this brings up the same old security issues that have been around forever. You have to trust the vendor that provides you with the OLS that you have. Sometimes their keys can get compromised and you might have vulnerabilities by turning on updates, you know. So yeah, I'm hoping that this helps people learn the benefits of open-source software. If you have Linux on your computer, you probably weren't getting, you know, you know, forced to pay, you know, money to some hacker somewhere, right? Really though, this whole story is more about the NSA than Bitcoin. Yeah, it's more about how they had a bunch of zero days that got released. They weren't careful with it. And that ended up causing this. And really ransomware existed before Bitcoin. And I don't think Bitcoin is really the issue at hand here. And hopefully what this does is it encourages people to focus on security. Security is very important for any OLS. And it's possible that you're sort of trusting a lot of people that are creating the software for you, which is why it's so important to use open-source software. Can I jump in really quickly? I forgot about something else. Also a specific targeted attack going on against well-known Bitcoiners. David Ducini, I think, or Ducini, is he was just attacked the other day. Somebody contacted him directly after rerouting his SMS to Factor. And they sent him direct messages saying, hey, give me your Coinbase account. Or you're never going to get into your step again, bro. And he didn't have anything in his Coinbase account, which was nice. And so he could tell the guy you know to poundstand. But also be wary of that. If you are using SMS-based two-factor authentication, you might want to upgrade to a non-SMS-based system really, really, really fast. Especially if you're somebody like, you know, Joe B. Weeks or somebody that's famous that people know, you know, have Bitcoin. Excellent advice. You should always be careful and probably keep your coins in a treasure or a ledger or cold storage, something like that. Toneless. Or you keep your like, toneless Vase who doesn't believe in two-factor authentication because he hates it. That's another way to get around this problem. I know I always piss off Thomas every time I say that. Hey, can someone just explain to me because I'm an idiot, how is the idea to say involved in this? They had a huge, well, okay, they're collecting vulnerabilities, right? So they can break into computers, et cetera, et cetera. And somehow they all got leaked. So there's a huge pile of what used to be their greatest secrets that now everyone can have. They're like super tool. Like a script kitty. Before a script kitty was like, I got some of this crap that people online piece together and I'm going to get a virus from using it. But when you get the FBI's tools, that's not a good thing for people to be getting the hold of those. That's why you need to upgrade your Windows box, Ton. Oh, yes. Yeah, I was just saying, I think I'm finally downloading Windows updates. I haven't done that in like a year and a half. I have a very different view on security than most people. But it's worth for me. You don't have any. Yeah. That's true. That's exactly right. Well, I don't have any security and I also don't store anything important because I don't care. I only care about my Bitcoin to save. And that's about it. And I don't keep it with any third parties or anything like that. Okay. So I love the story even more now. This is great. It just shows you what the NSA does and it shows you how the government is always involved in getting all of our tech companies not to secure our data for us so they can put together these back doors. I love it when these back doors are leaked. I was a huge supporter of the fapeting when all of the celebrity nude photos got leaked. I was telling everybody to download because that's the kind of stuff that made me feel maybe create some importance for companies and for people of what it means to secure their data. Now again, I'm the exception. I don't secure myself because I don't care. Let it get leaked. But as far as like Apple's concerned, as far as Google's concerned, Microsoft's concerned, they have to give a security. They can't just like listen to the US government and open up all of these back doors for them. And this was passed. This was a voidable. Yeah, and one last comment on this. Just want to point out because Jimmy said that ransomware existed. Let me close this first. Ransomware existed before Bitcoin and I just want to show that as proof. I love this picture. I took it from a presentation by Mikko Hypinon of F secure. It was an awesome presentation. It talked about the AIDS virus, the AIDS troche actually from 1989, which encrypted your computer and requested $378 payment in cash send to Panama. So it looks like the prices haven't even changed. It was $180 for a year or $378 lifetime. Right now they're only requesting $300. So this goes right in the face of anyone talking about inflation. If this $378 from 89 was inflation adjusted, it would be a lot higher. So you should be happy that prices that the script of Locker people have not been adjusting for inflation since 1989. And they should likely just pay them. Jeffrey Jones, your thoughts on the malware. All right. Well, a lot of great stuff has been said and I agree with definitely most of it, really great stuff. But for me, this is the end result of the three-letter agencies having little to no oversight. This is what you get when you put unlimited money with no oversight. We get mass buying plus the software of mass destruction getting leaked for the whole world to use. I mean, this thing is massive. This is like 75 countries. This is the end result of them not notifying the public about these zero days soon enough. This is the end result of them not being responsible, not being responsible enough to keep these from getting leaked, from getting stolen and shown to the entire world. And now they're blaming Bitcoin. Right. I mean, this is classic deflection. This is classic deflection because ransomware like you guys have been saying has existed before Bitcoin. And apparently, as tone says, they haven't adjusted for inflation. They're not even that smart of finance people. But they know code. And this is the end result of this kind of stuff. And I also want to say that this is just the beginning. This is just the beginning of what's going to happen. Many of us on the World Crypto Network have warned about this for a while now. This is going to, Bitcoin is going to just wipe through the security of this planet. Like we've never seen before. This is what's going to happen. Because this is technology now where you can actually route value without censorship. Combined with a society of technology that's completely behind the times, combined with horrible security, combined with windows, people, windows, people. This is not, this is a match for destruction here. So very important public service now. It's like you guys got a backup. You guys got to update your security. Back up and update now. Make sure your Bitcoin is in a hardware wallet off the internet. But this is what we have to do. We have to upgrade. We have to learn. And we have to huddle. Everybody huddle. Excellent points. And we'd also like to thank our 200 or so live viewers. It looks like everyone's pushing the like button and the share button onto the exit question. Exit question, the morality issue. Is it immoral to hack the National Health Service? Is it immoral to shut down a hospital if you are a hacker? Is Blake with us? Not sure. Yeah, I could hear him. My camera is ticked. I don't want to bother it while it's doing that. Yeah. All right, seems like we've lost Blake. Let's go to Jimmy Song. Is it immoral to hack the National Health Service? Well, of course it's immoral. I mean, the people that are doing this, let's not mince words. They're evil people, right? They're trying to extort money from people. I guess before they existed beforehand. They're new avenues of doing it. And that's OK. That's OK. If you have some money, people are going to want more of it. And this is what Bitcoin is. It's sound money. People want it. And it's a way for them to get value. But let's not mince words. These are evil people. And they deserve to be in jail. Blake Anderson, you back with us? Silence. All right, let's go to tone V. Something happened to Blake's computer. Maybe it was Windows. Well, you're making an assumption that these people knew exactly what agency they were attacking with the ransomware. And I don't think that's the case. I think they just do it randomly. And it's not they probably don't even know who's paying them. They just have an access key. And then they provide the access key. So assuming that they're purposely going after these things, I mean, I don't assume that. I mean, I just, it's unfortunate. And I don't really, unless one of these companies specifically says that that was the target, then we can talk about whether it's moral or immoral. But at the moment, I'm looking at it as random. It's just like that. That was just the most vulnerable system. And they probably didn't even know who they were attacking. But once the system is attacked, like any attacker, they can't show weakness after the fact because that everyone else is going to take advantage of them. So they have to stick to it. And they only unencrypt with the ransomware after the payment. I was hoping we'd find a hacker with a heart of gold, Jeffrey Jones. Yeah, it's interesting. I mean, you can invoke morality in here if you want. But I mean, if you look at this subjectively, you can just see that this is the end result of circumstances. This is, you put Bitcoin, this resistant value transfer mechanism combined with this horrible security that we have, especially in health care and hospitals and things like that, running like Windows NT kind of stuff. I mean, this is the recipe that you get. And so this, like I said, this is just the beginning. So is it moral? I mean, obviously it's not good. It's definitely not good. But will it be a net positive? Who knows? We need more hacks like this so that people can learn from these mistakes. And so we don't have to have, we don't have to keep learning these lessons in the future. Bitcoin is here to stay. And that's not changing. So upgrade your security. It's certainly immoral to shut down a hospital, to take away their power or their computers or their ability to help people. But there is a hacker argument to be said for. The weakest security will get hacked first under any scenario. And unfortunately, that's often going to be hospitals, governments, schools, places where they don't spend enough money on their security, which as War Tech's and others have been saying here, it's going to go up and up and up. Everything is going to be hacked that can be hacked. And they're probably going to ask for a Bitcoin ransom, by the way. Absolutely. Moving on to issue two, like coin, activate Segwit. Segregated witness, the controversial Bitcoin scaling proposal was activated this week, but not on Bitcoin on Litecoin. The new change allows the Lightning payment network to be activated on Litecoin and also solves Litecoin's non-existent scaling problem. Likes coins price, which had already risen considerably, continued to rise on this positive technical news. Jimmy Song has Litecoin surpassed Bitcoin is Litecoin the future of payments. So Litecoin has not passed Bitcoin. Litecoin is an all-coin like so many others. And it's an interesting platform to test Segwit to witness. I saw that Lightning Network was doing some transactions there. This is a great test vet, right? There are some security differences with the Lightning Network that's maybe not exactly the same as Bitcoin transactions. And we need to move this out a little bit and figure out where the vulnerabilities might be, and what you need to do, and how often people try to screw each other on these Lightning Networks and things like that. So this is a great test vet, but I mean, it's still an all-coin. It's not going to be taking over any time soon. I mean, if the scaling debate doesn't resolve itself for a long time, I still don't think Litecoin will take over any time soon. It's a great test vet, though. It's a great test vet. It's not time to start petitioning retail stores to accept Litecoin. No, no. I don't think so. Tones. I agree with Jimmy. I mean, Litecoin is a good test vet right now. Unlike all of the other old coins, the pump and price of Litecoin makes sense to me. I remember about a month or two months ago when everything else was pumping and Litecoin didn't budget like $3. I was questioning that. I'm like, that made no sense. Why isn't Litecoin pumping? It's the only one that deserves a price rise because of Segwit. It finally did. It finally pumped in the price. It makes total sense. People are going to speculate on the fact that Bitcoin may never get Segwit, and Litecoin already has Segwit, and Litecoin is already being tested out on it, which is actually amazing because I clearly remember Roger Vier telling me personally and on camera that even with Segwit, Litecoin is over a year away after Segwit. And it sounds like that was complete bullshit because Litecoin, Lightning is already working and that what makes matters worse is what he told me and everyone because he even set it on camera, that this came from blockchain that info developers who said this. And this only validates the fact that I have been calling blockchain that info one of the worst Bitcoin wallets for years now because back in the day it failed me horribly. So ever since then, I never trusted that wallet. So this is good. Hopefully it'll take us one step closer to getting Segwit on Bitcoin, which I think we will eventually get. So but yeah, for now, good for Litecoin. I'm happy that Segwit is being proven that Segwit is a stable code base. Jeffrey Jones. Yeah, I mean, I'm just, I'm loving it. Like Tony said, I mean, this was the only coin really that deserved a pump. I mean, this was great for longtime Litecoin holders. I mean, it was $4, $3 for ever. Meanwhile, these things were just going up. It was just ridiculous. I mean, people like Tony myself were just like, what's going, what the hell? What's going on here? We need to pump the actual coin that has value. And I'm just loving it. Like this is, to me, Litecoin is kind of the closest altcoin that there is to Bitcoin. Like it's such a kin to Bitcoin compared to things like Ethereum and things like that. There's only a few small changes of Litecoin. Reason for that, because Charlie Lee didn't want to add all sorts of additional features. He didn't want to add all different things. He wanted to experiment. And he didn't do it for money. He didn't do it for fame. He did it to experiment. So this is what we have. We have this amazing experiment that is Litecoin. And a lot of people have hypothesized that Litecoin could maybe be a perfect companion to Bitcoin for small and small instant payments or small fast payments. But I mean, for Lightning to do that or for Litecoin to do that, it needs Lightning as well. Like Litecoin couldn't even do that alone. Like Litecoin needs scaling as well. Just as bad as Bitcoin does. And now that we have segwed on Litecoin, I mean, man, we can do some amazing experimentation because we've already seen the first very first Lightning payment completed over Litecoin, right? And it was, I mean, it was sent from like Zurich. It was to London. I think it was across the planet for almost instant. It was instant for almost no fee. So totally almost no fee. It might have well been free. And so this is the technology that we can experiment with. And we're seeing these things proven now out in the wild. And it's going to be really fun to watch them to watch them scale. Because obviously that was just the first payment, right? That was a great experiment. But we really need to see it out in the wild and working live. And Litecoin, as Jimmy pointed out, like it makes an absolutely amazing test net for Bitcoin. But it's more than that as well. Of course, it's own thing as well. But I mean, absolutely beautiful when you compare it and combine it with when you pair it and combine it with Bitcoin. So yeah, I mean, I don't see Litecoin going anywhere. And I see this as awesome for Litecoin. Exit question, will Litecoin's SegWit adoption and price rise inspire Bitcoin to adopt segregated witness, Jimmy Song? Well, first of all, Litecoin price has gone up and down. I think it's interesting because it activated basically yesterday and it started to come down since then. I don't know if that was like trader sort of like playing on people that would buy right after that. I have to spend where the price is going to go. That said, it really depends on how segregated witness performs. And we can't really answer that until the tech has been proven over some months. If it does really well, and there's a lot more demand for transactions on Litecoin, maybe that inspires some of the miners to say, hey, let's make this happen or something like that. Or maybe not. I don't know. Maybe there's some weirdness in how segregated witness performs. Really, we need to watch and wait and see how it works. I would like to say it would be great if Litecoin had segregated witness and this is what you could do. Cross-chain to me. That's basically that would basically make it so that you can transfer value from one side to the other, like Bitcoin for Litecoin, without using an exchange. You can just do it directly with another party. And having a Lightning network on both would allow that sort of interesting exchange. I mean, you're basically doing what shapeshift does, but in a trustless way. That would be pretty awesome. Tony Bees. So yeah, I think it'll help because it's just the miners. To be honest, at this point, I really think it's mostly F2 pool dependent. They were the swing vote. I mean, they're a big vote. They're not like one swing vote. They're like, you know, they're a huge chunk of the Litecoin mining network. And they're a huge chunk of the Bitcoin mining network. And I think F2 pool will have a lot to do with segregated adoption on Bitcoin. And I think this will help because if they see everything good happening with Litecoin, F2 pool will switch. And that would put a lot of pressure on Bitmain. And we've already seen via BTC asking Twitter questions, whether the community wants Segwood or not. And it was an oral well-menged yes vote, with like 87% of the vote. So yeah, I think it'll help a lot. Jeffrey Jones. Yeah, I mean, it's pretty hard to say no. It's absolutely going to help get segregated witness, not only accepted on Bitcoin. I mean, just socially too. We're going to be able to see, look guys, how can you deny these transactions? How can you deny these statistics? This is just mathematics. And so yeah, it's definitely going to help get Segwood activated on Bitcoin. It helps, but still not this year. Moving on to issue three, issue three, Bitcoin price explosion. The price of Bitcoin in South Korea is more than 12% higher than any other exchange at around $2,070. Meanwhile, GBTC, Barry Silverett's investment trust was trading as high as 80% above the price of Bitcoin. Why is there such a spread in the price? Toned Vays is Bitcoin more valuable in South Korea or in the stock market? Okay, so a lot of factors go into this. So South Korea, which is literally right next to China, in China, it's being traded at like 10% to 15% below average. And then in South Korea, it's being traded like 10% to 15% above average. And that's why we have the average, basically. So the exchanges in China, I guess, are a little more restrictive. Korea, again, I don't know the specifics, but each exchange has its own pool of liquidity. This goes back into the problem of why these things happen in the first place. And that's because unlike the traditional stock market, in the world of Bitcoin, your exchange is also your broker. In the traditional markets, you have an exchange, and then you have brokers that compete for trades into that exchange. In the Bitcoin space, you have a broker in exchange all in one. So it has to do with a lot of things. It has to do with the demand in that country. It has to do with the regulation in that country. And it has to do with confidence in that exchange. So basically what happens is when a exchange has its first sign of trouble, the price tends to go up because people are demanding Bitcoin, because it's usually easier to withdraw the Bitcoin. And then when the Bitcoin withdraws have a bit of an issue, then all of a sudden it flips. And now people want to sell that Bitcoin, take the cash, because then at least there is a chance to get the cash back. So it's just these all these weird dynamics. Now as for very sober TTF, I'm going to talk a lot more about it on my financial blog, video blog, but I'll briefly mention it is that it's like this is why I'm a bad trader sometimes. On Monday morning, I was really going to load up my retirement fund in GBTC, but on Monday morning it opened on a gap. So I said, maybe I'm not going to buy it. And it was only like 157. And then it went all the way to 250. And I was bullish Bitcoin. I just didn't jump on it. So GBTC is worse than any of those exchanges as far as liquidity goes. The liquidity and GBTC is incredibly constrained, incredibly constrained. I don't understand how the SEC allows GBTC to be openly traded. If they don't allow the Winkle Voss to have an ETF, what they're doing is they're giving very sober a monopoly on the Bitcoin ETF. And it's a constrained supply. So the only way you're buying the GBTC, as if someone that has already spent one year inside Barry Silver's trust wants to sell it. So it's an over constrained supply. And we've already seen instances with over constrained supplies, like dash with its stupid master nodes and steam it. And you know when it was all powered up and people couldn't sell it right away. So when you have a constrained supply and a little bit of demand can drive prices enormously up. Now on the flip side, when panic sets in, the opposite can happen. Also, if the Winkle Voss get approved for their ETF, which I don't believe that they will, because I think a Bitcoin ETF is stupid, but on the flip side, at this moment, because of the situation with GBTC, you want there to be competition for Barry Silver's ETF because it's distorting the freaking market. I personally would rather have the SEC take Barry Silver's ETF off the table than, or just approve the Winkle Voss ETF. Now, the reason why GBTC actually has a huge advantage is that you can buy GBTC tax the third account, like a self-directed IRA, which is what I traded, or a raw fire rate, which is even better, because with a raw fire rate, all of your gains are completely tax-free for the rest of your life. And I'm not surprised that the spread is going up again. The next time Bitcoin corrects, that one might correct even faster. But I pointed it out on my podcast that once GBTC kind of almost hit parity with Bitcoin, right after the Bitcoin unlimited news and after the ETF news and stuff, would have been a perfect time to buy GBTC, because I think that spread is going to widen. And it's not healthy for any market, and there'll be people in their retirement funds overpaying for Bitcoin. So, but there'll be arbitrage opportunities. I'm not sure if you can short that ETF. I know you can't buy options on it, otherwise I would have totally taken advantage in the options market, because that's what I trade. That's a bit of my specialty. Jeffrey Jones. Yeah, so, as Tom mentioned, there's just a whole lot of dynamics, a whole lot of complexities that's happening here, a whole lot of things that really, it's, it's, it's, that don't pretty much explain it all, right? And so, for me, the biggest reason is the liquidity. Like, like Tom said, there's just no liquidity, and it's difficult to get Bitcoin right now. There's like shortage on all sorts of OTC markets with the price, you know, with the price went up, the demand went straight up. And so, it's things like this, the disparities on the Bitcoin price are going to continue as long as, you know, until as long as Bitcoin is this difficult to get. So, as Bitcoin becomes easier to get, the price should become a little bit closer around the world. But when you look at all of these countries that are having a major fiat issues, you know, like Venezuela, you can see that the premium on these prices, the Venezuela and India, you can see the premium on these prices are huge. And that's, that's not going away. So, and also, you know, South Korea, I mean, you can say that they're into technology as well, you know, from esports to digital currencies, they're kind of, they're kind of with it when it comes to that, but even still, even in a country like that, Bitcoin is still relatively niche and relatively difficult to get. So, we'll see what happens with the demand. And, you know, we hope that they can get Bitcoin as easy as possible in the future. Blake Anderson is Bitcoin more valuable in South Korea or in the stock market? Well, I mean, I don't know about those two, but I know in general that Bitcoin is going to be pushed around a lot by the factors that are local to where it's being traded. So, Bitcoin is being traded in Venezuela versus Japan and stuff like that, especially if the price is volatile going up and down. And there's lots of arbitrage opportunities. Arbitrage refers to making a series of striking a series of matching deals almost instantaneously that trades money around is to get you net increases to one, one percent, three percent. You can crush out bigger percentages if you are able to make those trades when these big differences occur. And how that's done is you have to actually have multiple currencies loaded up on these exchanges ready to go to make those trades. And that's a lot of fundamental risk loading up a whole bunch of exchanges planning to make trades which are going to take advantage of this difference. That doesn't mean that it can't be done, and that you can't find some kind of a bot or a program cycle where you risk manage low enough to be able to make money off a big enough swings. That can be done, but it's a lot of work. And if you don't watch it closely, you can definitely lose a lot of money in a kind of almost systemic failure wherein if the exchange goes tits up or if they take your stuff or if their government stops them from releasing your funds, that can be dangerous. So arbitrage is really great. It's very, very low risk. If you have it all set up and you're about to just do it. So if I'm really low risk, but when you take the full scope of what's needed to rake down arbitrage profits, you tend to get a little bit risky in the wild west of crypto and loading up these exchanges. Jimmy's on. Well, I think I'm echoing everyone else said, it's a lot of demand for GBTC because you can load it up on your own, let it sit there for like 15 years. Great, although with GBTC, they take like a 2% fee every year, which actually makes it so that it used to be one tenth of a Bitcoin, it's now like 9% or something like that. So it does sort of lose money and Barry makes a ton of money off of that, good for him. Anyway, as far as I create, I think I've said this before, but Korean Japan have very big savings cultures and they have like lots of investment, clouds and things like that. And Bitcoin is a pretty hot investment. A lot of people want it and there's just sort of a shortage of big coins available there. I'm told that this is the same case in a lot of Latin countries and third world countries where these premium census aren't enough, people with Bitcoin willing to sell. And part of the reason why there aren't as many arbitrageurs is that you need to open a bank account in these countries in order to get the cash out and then convert it to US dollars. Oftentimes these countries have currency controls, so it's very difficult to get money from that currency back to US dollars and so forth. And plus you have like foreign currency and exchange risk and things like that. But that said, there is a huge arbitrage opportunity out there, especially with Korea right now, it's 15, 20%. And you obviously have to go and find somebody that with a premium bank account or something, I believe they require like a national ID, so you have to like live there. And yeah, it's not easy to do it as a foreigner, for example. But you know, there are not people in the world that have access to these things that it should be possible. Yeah, Jimmy, let me just comment on that real quick. I agree with you, the arbitrage opportunity is there, but here's the thing, is there for someone that's very, very rich, for someone that has like 40, 50 million that also understands trading and is willing to throw like five to 10 million at this. Because one exchange gets hacked, one exchange goes down, your money gets tied up. And like six months worth of arbitrage profits can disappear in a blink of an eye. Oh, even more so. Yeah, the amount of systemic risk that you expose yourself to by loading up the materials that are needed to do this. I mean, it's yeah. And it's very difficult to do. You need banking relationships in all these countries in a very hostile environment to Bitcoin from the banks, of which is why very few people are doing it. And as long as few people are doing it, these distortions will... Moving on to the exit question. Just this morning, the price of Bitcoin did below 1800 is the epic rally over. The price of Bitcoin next week, higher or lower tone bays. I'm gonna go with higher. There's not the only thing that gives me a pause in the price of Bitcoin right now is that we went above my daily channel. And Thomas is very familiar with that channel. Maybe I'll show my pictures during predictions. So technically speaking, Bitcoin got a little bit on the high side. And if I was looking at Bitcoin in isolation, I would have probably said, you know, it's time for Bitcoin to take a break. But I'm seeing what's going on with the old coins and the bubble that they're in, which they've gotten way more money pouring into them than Bitcoin did. I think this ransomware hack will only coin on the radar. It's only gonna create more demand for Bitcoin. If the government tries to down on Bitcoin, that doesn't mean that the price is gonna go down. It just means it's gonna go up in the OTC market because people are gonna want the bigger premium. I'm not really sure why Bitcoin dropped down to like 1600s, just, you know, an hour or two ago. But I'm already seeing it back up to 1720 on stamp. And I can only guess it's like 1750 on BitFinex. I mean, there is one technical element that makes it a little high, but in general, I haven't seen any FOMO, I haven't seen giant volume in Bitcoin. I'm seeing things like Ethereum and Dash and God forbid, Ripple and Nam, all this nonsense, just like going up exponentially. And I think Bitcoin is fine. I think it still has some room to run. At the worst, it'll like slowly move up to 2000. It doesn't feel like there should be a correction. Meanwhile, the Bitcoin dominance, I guess, is still going down, which is kind of good. I just don't see it. Jeffrey Jones. Yeah, I mean, as Thun said, we're already pulling back to 1727. I don't see, you know, a lot of people were saying that it might have been this ransomware story that took it down or possibly, of course, the allowing of Fiat withdrawal at BitFinex this one time. And so that I'm sure had a lot to do with it as well. And as I was, there's multiple. Well, I'm sorry, hey, Vortesk, can you elaborate on that? What do you mean this one time? Yes, so, yeah. I'm not, I don't trade Bitcoin. So I mean, people, I don't want to price, but I don't know the details because like, I don't get attention to any individual exchange. Well, what is that all about? So yeah, I don't trade either, but of course, it comes across my Twitter sphere. I am following BitFinex. And yeah, they allowed a one time Fiat withdrawal for right now. It's limited. So you only, I believe get to withdraw, get to do one withdrawal. So that's going to be for right now. That's kind of weird. Yeah, $80,000. How much? $50,000. You have to withdraw at least $50,000 for this one time withdrawal. Okay, so you have to withdraw at least $50,000. But okay, so it's only for like bigger players. Yeah, so that's, so that's, you know, that's going to be part of it, of course. Like there's always, as always going to be a bunch of factors, but all of these factors as the rest of the panel pretty much agreed is not going to be enough to stop this bull run. It's not going to be enough to stop this like multi year, almost bull run at this point. We've been running pretty good now for a while. So in my opinion, like I said, like Tone said already, it's already recovering. And also like Tone said in a tweet, he posted out a tweet really just pretty much kind of saying that the only buddy, the only people that are selling right now is the weak hands. I mean, that's why there's much more volume in the selling than buying, right? So it's probably just weak hands and it's not going to last. And so I would say that this rally is not even close to being over. And I would say we're going to be higher next week. And the rally continues in our viewers as well. Thanks for pushing the like button. We're now over 300 live viewers. Blake Anderson, higher or lower next week. I think it's going to be higher next week. I think we have a nice kind of a pull back here and hopefully we'll get a very short time of stability and then it will continue to go up. I mean, we have 21 million bitcoins, 15 million already gone. A lot of people lost 10,000 bitcoins and all kinds of stuff that like, you know, how many of those are spendable? Nobody knows. But we do know, you know, five million left we're getting towards, you know, that so long investment horizons and Bitcoin have been very good to me. And I think the long investment horizons and Bitcoin can be very good to you too. Jimmy Song. Well, I told you guys last week that the number of Twitter followers that I have corresponds pretty well to Bitcoin price. It continues to be the case. I wrote an article this week that was fairly popular. I got a lot of followers as a result of that. I was predicting 1600 by this time as of last week. So it did a lot better than that. So I guess it depends on the strength of my next article. But I'm going to say higher just because it has been trending up for. It's been. I'll say let's keep going and follow me. You got to keep writing articles to the price of Bitcoin and go up follow had Jimmy Song links are below. Moving on to issue four Bitcoin down under following Japan's recent regulation and recognition of Bitcoin. Australia has finally corrected their tax laws to exempt Bitcoin from onerous double taxation. Bitcoin and online gaming currency will now be treated just like Australian dollars for tax purposes. Are we about to see another run similar to the one caused by Japan is Bitcoin headed for mainstream adoption in Australia. Jeffrey Jones. Yeah, so it's it's really interesting. You know, first Japan and now Australia just they're just kind of making making Bitcoin legal tender removing the tax problems the tax complications with it. And so see this as a positive sign for Bitcoin and for you know, like we spoke about in previous shows how Bitcoin is the world is now beginning to have a conversation about Bitcoin and it seems to be going well because of these these type of regulations. These are these are positive regulations for Bitcoin. And I hope that this kind of stuff comes to the US. I hope the IRS can start following in suit and following in place and maybe learn some things and learn some lessons. Maybe watch some Andreas and to not miss videos and learn a few things. So I hope that I hope that this type of stuff continues. And we really have to really have to go soft. I guess they say go soft on the regulation. Right. We really have to not constrain Bitcoin with regulation because this is the new financial system. This is the technology that's going to change everybody's lives. So we have to like the internet make sure we have a soft touch on regulation. And mind and stifle it and it's you know, and it's infancy. And so you know, as even Andreas pointed out and the Australian Senate like you know, anything can be used as a tool for criminals. Right. Criminal issues, criminals use water. We can't we can't make everything illegal that criminals use. But Bitcoin like the internet, you know, started out with with with scary intent. Right. Like there was cyberspace. The predators are going to get your children from cyberspace. Everybody watch out. There was always fear and things that we don't understand yet. But that gets wiped away with time and with education. And so there should be no different. And yeah, I see positive regulation for Bitcoin coming across the world with these types of things. It's about time we had a call for a ban on shoes. Blake Anderson. Well, it can be a bunch of blocs and sheelas are going to be real happy about their new currency. It's going to be throwing shrimp down the Bobby and you know, you dig, dig, dig. Yeah, that's my technical assessment of what's going to go on down end. They'll probably end up making a lot of money from it. And then unfortunately, ruining their own lives because of the amount of money that they've made. So that's my very, very serious, technical response to that. I mean, I think it's great. I think that being given direction and making sure that it's not double tax is amazing. I guess I don't really have a whole lot else to say about that. Dire predictions for the Aussies. Jimmy Song. Yeah, I mean, it's hard to say exactly how it'll affect Australians. I mean, you have to be Australian and live there to know exactly how it's going to fetch you. But I mean, for me, this is a good test bet for the US. I see it kind of like Litecoin with Segwit, right? It's a place where we can sort of test things out and see how this works. It works well. I think it could come over to the US and that we can make our. Another thing for me to think, another thing for me to just sort of pontificate about is if Australian start using Bitcoin sort of as their savings vehicle instead of banks, maybe that could be a very good thing. And that sort of thing can spread elsewhere as well. Yeah, I mean, it's good to have more investment vehicles. And like movies and other products that get tested in Australia first before they're sent to the US, the same thing with Bitcoin and regulation. It's a great test bet. I hope it goes well. Could be a model economy. Tone Vays. So slow to push that mute button. Just reach up and push it. No, no, no, it's not. It's a little more complicated than that. Sound like me. I'm trying to rationalize my own problems here. Don't bandwagon. Yeah, I don't know. Google has been weird, but I am happy they brought back the lower third. That's why I was able to get a little creative and breaking all kinds of rules here on the world crypto network. Okay. So the tax thing in Australia. So I mean, the tax itself is stupid. It's like the value out of tax. You're not adding any value by making everything more expensive for your citizens so that you have the value and you kind of, you know, squander it and create more rules and regulations. So you can create more and more taxes. Now, it'll probably help Bitcoin a little bit. It's not going to make that much of a difference because remember, the majority of profitable Bitcoin operations rely outside of the regulated to begin with. So it'll help a little bit. I don't think it'll make that much of a difference when it comes to Bitcoin, but anything's good. I mean, I would love to see this tax removed from all goods, not just Bitcoin and a stupid tax system on Bitcoin. I really wish they treated it more like a currency and not tax it. And I mean, Canada has much better rules. You can walk up to an ATM in Canada and you can buy up to $10,000 without any identification and any KYC. So being a local Bitcoin dealer or a ATM operator in Bitcoin is in Canada is much better than the U.S. right across the border. I just came back from there. So I'm a little more aware of what's going on with Bitcoin in Canada. Moving on to the exit question, many countries have flirted with Bitcoin, but which one will adopt Bitcoin next? Jeffrey Jones. Oh, it's pretty hard to say how you got to really do, I guess, is look at the volume and the local Bitcoins to figure out at least where Bitcoin is one of the most. No idea, but I can tell you that it's not going to be very much longer before more and more governments choose to make good regulations for Bitcoin and eventually are going to start holding Bitcoin like the whole goal. So we're only a couple of years away from that. Blake Anderson. Gold is becoming the poor man's Bitcoin. So don't get left behind. Who said that with that Max Kaiser that said that every time we talk about Max Kaiser on the show, people get really happy about that people are like, yes, talk more about him, send a lot of people to his. So maybe I should not invoke that name, but that's all I have to say about that. Jimmy Song. Yeah, I'm going to go with a little bit of a dark horse. I'm going to say Singapore, because it has a lot of the same similar cultural things as Japan and Korea. And once it catches fire, it's a lot of kindling over there that will burn. That's my good instinct there. Tony Vaze. I don't know. I'm always partial towards Estonia. They seem to be the only country that really understands technology and how to streamline stuff. So I think that'll be a surprise. I'm going to go with Estonia. The real surprise is the answer is Russia moving on to issue four. Mount Gox come back with the price of Bitcoin rising. Mount Gox's trustee is still holding on to more than 200,000 Bitcoin. An unprecedented situation is about to occur. If the Bitcoin price rises to $2,900, the trustees of Mount Gox will be able to repay their customers in full. Blake Anderson, your thoughts on this absolutely stunning turn of events. Now, I'm just going to have to pass on this. I didn't sleep last night. And I now become just so tired that I can't even focus my eyes. So I'm just going to go ahead and pass instead of lose my train of thought in the middle of what I'm saying. Jimmy Song. Okay, it's been, actually turned out to be a good thing, right? Because it's taken many years, it's had time to wait for Bitcoin to appreciate this one. I mean, a lot of people get some free money. So I mean, I have a feeling this isn't going to be exactly great for the price because you're getting 200,000 Bitcoins that were previously not in the liquidity pool just sort of added to the supply. You know, that said, like Mark Coppola has stated that he doesn't want Bitcoin to rise because he doesn't want to get sued personally, right? Like if he's back and he's going to have some help and what's going to end up happening is that people are going to end up suing it personally. I mean, this might be a model for other bankruptcies, like just keep some Bitcoin in a trust. And if something bad happens, just wait until Bitcoin rises to the point where it's to pay everyone back. I don't know. It's my thought. Jeffrey Jones. Yeah, I mean, it's interesting. It's tragic. It's crazy. You know, so much of the money has been eaten up by lawyers already. And you know, all these people have been waiting years and years. I don't see these people ever getting their Bitcoin back. And you know, it's a sad thing. You know, we've seen this and tried to improve upon this, right? Bitfinex created their own token to try to make the whole thing solvent again. And that seemed to be a success. We'll see if regulators come back on the future and come down hard on them, but we hope not. So this is going to continue to happen. We're going to continue to try to improve our systems, improve our security so that hacks don't happen. But of course, hacks are always going to happen. So at some point, we're going to have to create better plans. And the Bitfinex model is one model that we can try in the future. But even that's going to not, you know, it's, that's not sustainable for a long time. So I hope that we, we continue to invent new ways to make investors whole. But you guys, you got to leave your coins off the exchange. Back up to a treasure. Everybody needs to buy a treasure or a ledger or whatever they're most amazing hardware wallets these days. We got a bunch of them now to choose from because security has improved a lot since empty gocks in the Bitcoin space. But yet still we have huge $70 million hacks and things like Bitfinex. And so, you know, this type of stuff isn't going away. You guys have to really plan for this, make this a part of your portfolio. So store as much Bitcoin as possible off the exchange and hope this never happens to you. And the idea is also that they're being restored with their fiat value at the time of the crash, right? They're not getting the gain in Bitcoin. So there is a certain loss here. If you had a lot of Bitcoins on that exchange and now you're calculating how much they're worth, you're not getting that amount. You're getting the at time of theft amount. So that's right. That's right. That's not that great a restoration. Tom Vays, are you back with us? No time for a new computer. Is it questioned? Who has the better chance for reconciliation with the Bitcoin community? Mark Carpellis or Roger there? Blake Anderson, care to give a choice on the opinion question. God, that's a tough choice to make. I think that the material damage of what Carpellis did was worse. I think that the damage that Roger is causing, he's aware of and doesn't care. So they kind of tie because those are both not good. So I'm going to say tie. Jimmy Song. I really depends what you mean by the Bitcoin community. I mean, nobody really needs to reconcile. Bitcoin doesn't care. You own Bitcoin. You can be the biggest scumbag to everybody. You own Bitcoin. You still have cash. This is a feature, not a bug. You'd have to be a saint to whom Bitcoin nobody would own it. I don't really know what that question really means. Carpellis was a terrible businessman and had no idea how to run things securely. But as long as you have some Bitcoin, you don't really need to play nice. It's the whole thing, assume sort of adversarial conditions. I don't think either of those guys needs to reconcile with anybody. They're free to do whatever they want to do. I really don't think Bitcoin cares. Tone Vays. Back with us, it's just an image. I don't know. Can you guys hear me? Yeah, we can hear you out. OK, yeah, no, I can't get video. Anyway, just like Blake having issues with Google here. So quick thing on the Mount Gox. I actually like this story. I would like to see Mark Carpellis get out of legal trouble. And it's a beautiful loophole, right? Like you lose 60% of the Bitcoin. You hold on to the other 20, 25% of the Bitcoin and not distributed to people because of an outside lawsuit that's suing them for $25,000,000. Work Carpellis claims that no, no, they actually owe us $5 million. We don't owe them 75. They owe us $5 million. So that lawsuit held up the distribution of the $200,000 Bitcoin that they magically found. But like all of these lawsuits, just like with BitFinex, the moment shit hits the fan, you denominated it in fiat money. And that's how much you owe people. And they, as far as I remember, they locked in the amount of money that they owed their customers at a price of like $480 per Bitcoin or something like that. So not at the value of a Bitcoin is 1700. So the value of a Bitcoin went up like four times. So they're almost whole, but then that 75 million lawsuit is like weird. So this would be great. So that means that if the price of Bitcoin goes up to like 2100 bucks, Mao Gaox can pay back everyone in, I thought it was 2,900 something. It depends upon the results of the lawsuit. If they have to pay 75 million, it's 29. If they don't have to pay, it's around 24, I think. Okay. It's a lawsuit, it's confusing. So that would be great. So it would be awesome if Mao Gaox become solvent before what's as a Marker Palace as a criminal trial. And then they pay everyone back and now Carpellus can just walk away, Scott free. And honestly, I think that would be okay as long as he's not the one that actually took the Bitcoin. And I've done some research on that situation. And he was scammed by the ripple guy. I always screw up his name. Even though I have a whole podcast about him. But I, Jeb Mikhailo. Right? Allegedly. Allegedly. No, it's not allegedly. There's like email communications back and forth where Marker Palace is asking him, hey, where is the 80,000 Bitcoin and Jeb tells him, I can just go and buy it or you can mine it. It's not there. It was insane. And yeah. So it's really cool. And what was the other question? Always check under the cat. That's where the Bitcoin is. Now, the follow up question, who has the better chance for reconciliation? Mark Carpellus or Roger Vier? Oh, no, no, definitely, definitely Marker Palace. Because most of the people that lost money in that were really, really old Bitcoiners. Like I didn't even lose money in that. Like that shows you that I'm not even an old-time Bitcoiner. I don't think anyone on this panel lost any money. Maybe Jimmy. Jimmy did. Did you get any from you? I did. Yeah. It wasn't very much, but I did. Right. So Marker, I mean, most of the people that are in crypto right now didn't even know Marker Palace ever existed. So it's always like the last guy that gave them that it's like, I mean, I'm sure someone else is going to come around that's going to be more hated in Roger Vier eventually. But all the hatred usually goes to like the last enemy. And I, very, very few people will do that because by now you have to understand that by keeping your money on an exchange, it will get hacked. And I'm sorry that you had to be the guinea pig to show the rest of the world, but it's also obvious the rest of the world didn't learn because we're still seeing people constantly lose their money. Oh, I can already tell you who's probably going to be the bigger enemy when Roger, you know, when the whole thing with Roger ends. Something like Poloniac's just disappearing and taking everybody's money would become the most hated recent. I'm not saying it will be Poloniac's, but something like that incident will then become, you know, the next most hated person. And then that would change also. I have to say I'm very surprised by this story and I'm actually kind of rooting for it. It would be great if Bitcoin went to 2900. I remember a lot of stories of early Bitcoin investors like waitresses and just kind of normal people who had the foresight to put a hundred bucks in early or somebody tapped them on a plane on the airplane and said, hey, put a thousand bucks in this Bitcoin thing. They did it. They left their money in Mt. Gox. It was worth maybe hundreds of thousands of dollars life changing amounts of money to these people and they lost it all. And even if they don't get the gains of recent Bitcoin, just to get them back their money and make them whole would be an incredible end to this story. Jeffrey Jones, your thoughts on Roger Vier versus Mark Carpellis? Yeah. So I mean, like Jimmy said, and like a lot of people say, you know, Bitcoin doesn't care, I mean, Bitcoin is the honey badger that doesn't care. But no, I didn't lose anything on Gox. I definitely traded on Gox at one point, but as soon as they stopped allowing fiat withdrawals, I was out. And then of course, later on, about six months later, they stopped allowing Bitcoin with withdrawals. And so at that point, you know, it became Gox Coin. That was basically the only thing that was being traded on there. And so, you know, that was definitely kind of crazy. And I remember being there the evening that the MT Gox kicker, the MT Gox ticker stopped. Like I was there. Like it was very surreal. You know, I just remember thinking to myself, like, wow, this can't be happening. This is going to be priquant. And of course, you know, it wasn't great. It induced a two year bear market. But you know, it was crazy. It was, I think a lot of people felt the same thing, you know, very surreal. And you know, but remember, Carpellus apologized, right? He actually apologized and served sentence, you know, served some time. And then now he's out there pretty much in public, like answering people's questions, like, you know, multiple people have interviewed him since he's gotten out of jail. I think including, I think, Christie Rose had an interview with him. I mean, just this guy is trying to try. He understands that what he, that he made a mistake and he's trying to rectify, he's trying to help. And so, you know, that's definitely a completely different story than what we see with Roger. You know, Roger has delayed segwit for over a year now and continues to push a centralized agenda on a decentralized system, right? Just the other day tweeted out something about Nrb centralized. And it's like, what centralized? You want to bring in a president and a CEO to Bitcoin. What the hell is more centralized than that? Like, just complete, complete antithesis. I just, I don't know, I don't understand how, you know, he can justify. And in his mind, or rationalize this in his mind. But of course, at this point, you might be acting irrationally. So a lot of people are kind of speculating that as well. And, you know, I criticize Roger all the time on Twitter. You know, I just try to mostly kind of correct the lies that he says. Because a lot of times the stuff that he says is not 100% true. And so I do like to kind of correct that to make sure that at least some truth is getting out there to kind of counter his beliefs. And maybe he's believing his own lies these days. But I try to counter some of his tweets. But, you know, at the end of the day, if Bitcoin can be taken by any single entity, right? Then Bitcoin has failed as an expression. And the actor can take it out. And so as so far we've been seeing that happen. We've been seeing Bitcoin completely kind of deflect all of this craziness that's been being constantly bombarded with between, you know, Roger and Segwood and this scaling debate. And now, of course, this, um, this, um, the smell where that's been proliferating today. Through 75 countries. I mean, did you see, did you see Roger's tweet where he implied that the Bitcoin core team didn't understand economics? He didn't consider that he doesn't understand computer science and programming. It was that the Bitcoin core team doesn't understand economics. And so I don't reply to him like almost ever. But I was, I had to reply. So I just said, the appropriate words for you to speak to the core team are, thank you. They need your input from the bottom run of the Denning Kruger effect. Like they need assholes on their elbows. And that was my entire like, like, but like, that's exactly what I wanted to say. And I didn't want to not say it. And I guess it didn't generate as much blowback as I thought it would, which is, I mean, I don't know if he reads the Facebook interaction on his Twitter, but he should be because he, like, God, he pays attention. No, he pays attention to all the social media. I mean, like he's right there on point with Reddit. Like, you know, he just commented on me the other day. I'm right. I try to say that, you know, the, basically the VAPTC, the VTC, that top and a couple of other ones were all basically on and operated, you know, by Roger. I mean, not operated, but they're all, they all have the piece of Roger and they're somewhere. You know, I tried to make that claim. Of course, I have no proof. You know, but I mean, it's, it's kind of obvious at this point. And of course, Roger just jumped in there right away within a few minutes saying, that's not true, vortex. You know, so I mean, he's not pointed with it. He knows what the hell he's doing. He's got a very specific agenda he's trying to push and he's, he's, he's making no bones about it. He's, he's, he's tagging all of these people that he wants to listen to him. And you know, we need to do the same thing. We, on our people at Roger tags so that we can all be in the same conversation here because it seems like Roger is in a different conversation than we are. I don't understand. You know, we're trying to like meet halfway and, you know, Roger is claiming all these ludicrous and eccentric things. So I think that we need to just continue to tag the people that Roger tags. And hopefully they'll start, we'll start sticking up on the, on the information. I think he's on worth enemy dude. He's hurling bricks in a glass house and everybody can see him doing it. Everyone's like Jeepers, creepers, pale. Yeah. So sorry, Thomas, to answer the question, you know, at this point, Roger is way, way worse, way worse, prop, but completely unprecedented really in Bitcoin as a threat, an actual central threat to Bitcoin. And I hope that he eventually sees this one day and, and, you know, tries to rectify his wrongs. It's also worth noting on the Mt. Gawks situation that a lot of people had bad feelings about the exchange. A lot of people tried to take their money out early, but from what we understand from the situation, they weren't allowing large withdrawals, but they were allowing small withdrawals. So someone like myself was able to take off the $100 or so I had on there. Whereas if you had larger amounts, you may have been stuck there and going through a technical support nightmare. And just, I, I avoided all those problems. Like from day one, from early 2013, I never once considered going to an exchange. I just always use local Bitcoin. That's what I've always advised people to do. I feel bad though. The better, the better, the better it's not a trade, right? I did the same thing, but what I would do since 80% of trading was going on at Mt. Gawks, I would post their ticker, their branded ticker all the time. And one of the people that was my followers, Jeff I think his name was lost a lot of money in Mt. Gawks. And like I don't, I'm not happy about that. I need to be more careful in the future, not to be seen endorsing in any way, shape, or form anywhere that people could leave their coins. So I know I did make a video that came out and said that there was no solvency issues, but I still feel bad even just, you know, sharing that ticker so often that people saw that associated with me and what I invested. So that's the level of carefulness that you really want to have when you're giving people any level of advice in this space because good advice could be really good advice and bad advice can be really bad advice. And like Jeffrey said, it was incredibly surreal when the Mt. Gawks ticker stopped. It was just frozen there. A lot of different apps on the iPhone used it as their source for the Bitcoin price. Coin desk used it as their source. It was before they had their BPI index. A lot of things changed after that. People stopped relying on a single exchange. We got multiple Bitcoin exchanges. The ecosystem has evolved and gotten better. So we've survived it. Moving on to predictions or a story of the week, Blake Anderson, are you ready with a prediction or a story of the week? Yeah. I mean, just this week I was looking for a movie to watch with my wife. And most movies are pretty long and they're pretty boring. And so instead of watching a movie, we were like, let's watch. Let's try to find a new intellectual to learn about. And so we started watching Jordan Peterson videos. And that guy is just an absolute force of nature. His ability to articulate complex ideas is just mind blowing. I'm not exaggerating at all. I watched this guy talk for six hours last night at double speed and didn't get bored at all. And I get bored very, very, very, very easily. So the ability for him to articulate things, which hold attention, it is amazing. And I think that a lot of people in the Bitcoin space should not only practice articulation, but should listen to other people that are very, very articulate and learn how to sharpen your debate skills because being able to articulate the truth is, to quote him directly, is how we save the world from hell. Not being able to articulate the truth properly is a big, big, big systemic problem. So I'm not going to ramble about that too much. But go out there, articulate your truth. Don't be afraid to say what you mean. Even if you're ignorant or wrong, people will tell you that and you'll be able to be less ignorant or wrong the next time. And that is just so vital to the way that we improve the world. And I guess my story of the week is just that I watched lots and lots of this guy talk. And if I didn't get bored, I'm sure that you probably won't get bored. A very interesting speaker and I'm interested to watch more Jimmy Song, the story of the week. Sure. My story of the week is the all point frenzy. There's a lot of regulators right now in all coins that most of you know what these coins are. I've been in the space for a long time. I've examined a lot of coins and even I don't know what most of these coins do. And even if you know some cursory things about it, it's really hard to know like the guts and details without studying it extensively. I've been doing that on Monero recently. I've certainly got a lot more respect for those guys. Anyway, the biggest part of this, the thing that sort of illustrates this all point frenzy for me is what's seen dollar trades at on Poloniacs. It is trading currently at what's equivalent to a lot of book. It's supposed to be packed to the dollar a lot like other. There's a reserve of steam that gets sold every time it rises above a dollar and there's some steam that gets bought whenever it goes below a dollar. The fact that it is this far off a dollar tells you everything that you need to know about these all points. I believe this is a very frothy situation and a lot of people are going to be very, very sad. Tony Vays has got the charts ready to go. Yes, so Jimmy, you said that perfectly well. I've been talking about the old coin bubble for a while now. So I don't have to talk about it today. Today is Friday. We have two more days. We will see Bitcoin is starting to get to a very critical point and let's see how this weekly handle turns out. But so far this looks like still looks fairly well. I mean, there's no formal like an early 13 or in late 13 still looks pretty clean on the daily chart is where there is a bit of an issue. This is the bit stamp price quite a bit above the my trend channel. So it will be perfectly reasonable for it to pull back. But I find that I just I normally draw this down arrow all the way down. And if the old coin market wasn't as frothy as it is, I probably would have drawn this arrow down all the way to 1400 maybe even 1300. What do you mean? What do you mean? What do you mean frothy? What does that mean? I'm going to pop up with the old coin bubble. Okay, okay. It just means it's getting kind of high. And same thing here with Bitfinex. Bitfinex didn't go as quite as high above the channel. And normally I would draw this down arrow. So I may regret it by not drawing this down arrow yet. But I can always draw it on Sunday when I do this when I do my technical video. I'm a shorter term chart. You're watching these two lines right here. Once we go below this guy, which is at about about 1675 on Bitfinex, it's a time to worry a little bit. And on the upside, if we go back up above 1800 on Bitfinex, that I think we're fine and then it's business as usual. Right now, the current environment looks identical to the environment around May 5th, May go into May 6th. You have that second low. You came down. You hit the longer term, move an average and now you're reversing back up. So I'm still generally bullish Bitcoin. I'm very glad that Google gave us back lower thirds, but it's unfortunate. We seem to be testing a beta version of Hangouts today that crashes on its own randomly. Great job guys. Keep working on that. Jeffrey Jones, you back with us as well. Yep. Just crashed as we speak. So now I have no lower third and I can't turn it back on. So that's where you lower third. You're supposed to have a lower third, dude. I got my I got my lower third back, but it's not recognizing my HD camera. So now I'm back to the laptop camera. My camera is shit too. And I had to go turn off all my wireless devices and restart my computer. So clearly we're beta testing. As Thomas says, we are beta testing the latest version of Google Hangouts here live on the World Crypto Network. So yeah, so mine just crashed and I have no lower third. But anyway, so yeah, I guess I didn't really have too much of a story of the week, other than like similar to, you know, what Jimmy says about the altcoins, these ICOs, and these ICOs are just selling out, you know, in freak millions and millions of dollars and freaking minutes. And there's clearly a demand right now for these types of things, but I mean, I don't think the demand knows what the hell it wants because it's investing in nothing, but crap coins and all of these things and that you really have to be careful. So I just kind of guess what a issue of PSA to these ICOs be very careful because these, these ICOs are a dime a dozen now. They're just everywhere and they're all claiming to do amazing spectacular, extraordinary things, right? And so just be aware of extraordinary claims. And be aware of these ICOs and that's about it. And hold your own coins. I just like to, from my story of the week this week, I just like to thank everyone for wishing me a happy birthday. If you'd like to donate a few bits to my book buying fund, you can go ahead and use the QR code on the screen right now. It is indeed, you can go and pause it too if you want to leave it to a phone. It is indeed my birthday and I just went shopping at the bookstore earlier today. I got a damned by Chuck Palahouknik. I never say his name, right? But he wrote Fight Club and this is about a person in hell with a motley crew of young sinners, including a cheerleader, a jock, a nerd and a punk rocker all united by their doomed fate, like a breakfast club of the damned. So that just sounded great. I'm going to read that later. And then I got this kind of expensive. It was like 20 bucks. It's Treasure Island by Robert Lewis Stevenson, a nice big folio edition. One of the first books I ever read is The Child, Great Story of Pirates and Adventure on the Sea. So thanks so much for everyone for watching. We had 363 live viewers. That's amazing. Everyone's giving us a thumbs up and a comment. I'm going to go read the chat and see how we did. But thanks so much. I appreciate you guys. And up, we're out of time. Until next time. Bye, bye. Hasta la way, go.