The Bitcoin Group, the American original. For over the last 10 seconds, the sharpest Satoshi's, the best Bitcoin's, the hardest cryptocurrency we talk. We'd like to welcome our panelists, Jimmy Song, Bitcoin developer. Hi everybody, good to be here again. Jeffrey Jones from the Bitcoin News Show. Hello and welcome people. Theo Goodman from Hasse online. Hello everyone. Tone Bays from Liberty Life Trail. Hey guys, from the World Crypto Network. Moving on to issue one, be sure to give us a thumbs up and a share. If it's your first time here, subscribe down below. The price of Bitcoin is $36.30 after a rebound from $29.72. Issue one, Bitcoin price plunges. It was predicted all week and it finally happened. Chinese exchange, BTCC, preemptively shut down ahead of the news that China is likely to ask, who boy and okay coin to shut down as well. The ability for the Chinese people to buy Bitcoin on the open market, no doubt leading to the creation of a vast black market which will both be uncontrollable and untaxable. What started out as an attempt to control ICOs has become a full-fledged crackdown. Naturally, this has caused a major depression of the Bitcoin price, collapsing it all the way down to $2,900 before it just rebounded to $3,700. Jimmy Song is this the end of Bitcoin? Will the Chinese ban create a domino effect, wiping Bitcoin out permanently? All right, it's definitely not the end of Bitcoin. Even if several governments banned it, I don't think it would ever be the end of Bitcoin. As much as I would be glad to be rid of the people's bank of China being an influence on Bitcoin, I suspect that this is sort of a temporary thing. We do know that a lot of these exchanges had no proper licensing and neither did the ICOs. I believe that what the Chinese government wants to do is to impose some sort of license. A lot of these exchanges will shut that in the next month or two. They'll review it and then they'll release some sort of licensing procedure over the next few months. There will be sort of latent demand. And so all these exchanges will try to get in first, be the first to get a license. And as a result, there will be a lot of bribes paid out to these Chinese bureaucrats. The government wants its share. So I think that's what is going to happen. Authoritarianism and Bitcoin don't generally mix that well, apart because there are other venues to go and get your Bitcoin. So I imagine local Bitcoin's volume is, once again, going to go up tremendously on Bitcoin in China. And even more significant volumes in Korea and Japan, probably bid for next as well. That they're, I think, based in Hong Kong. So yeah, all of these things are going to keep happening. You know, I think the market's reacting well largely because we now have certainty on what's happening. So in many ways, it's a good thing. It's, but yeah, I would love to see the people's bank of China finally just stop having influence, but I suspect that's not the case. Jeffrey Jones. Yeah, no, I don't think Bitcoin is dead at all in the slightest. As Jimmy alluded to, they basically China is currently concerned with ICOs much more than Bitcoin. They don't want a ban Bitcoin. If they wanted to ban Bitcoin, they would have done so already. This is where nine years into this experiment here. And so they simply, as Jimmy said, kind of want their cut, right? So they want to be able to use their authority in regime, authority to go ahead and start taking control over these exchanges. Now, that's going to temporarily lower the volume in China. But look, China isn't a big player in Bitcoin anymore as far as volume goes. I remember they used to be over 80% of the volume. And then when the PBOC regulated it next or previously regulated it, they kill all of that fake volume. They killed it all. And so now we see that it's 15%. And that allowed places like Korea and South Korea and Japan to pick up that slack. And the rest of the world is gonna join in soon enough. This is the way of Bitcoin. The, as you guys said in the show this morning, the economics have not changed of Bitcoin. They're still only 21 million. We're still gonna have that having in 2020. So we can see from this huge balance that just happened. I mean, we're talking four or five, $600 bounce, right? We've done 28 and now it's like over 36. This balance just shows how many people are still believing in Bitcoin, how much volume there really still is out there. I mean, there's a lot of people holding. And has already climbed over 300% this year. So I'm not worried at all in the slightest about Bitcoin. Really all we need to get through is just this regulatory hurdles. Like we've already seen this happen in the US, right? We got regulated, we got the exchanges, got licenses. And then here we are with Coinbase, who does tons and tons of millions of dollars in volume, right? So what's gonna happen is they're gonna get licensed. The volume is gonna come back and there'll be another day in Bitcoin. So this is just another day in Bitcoin and all you gotta do is huddle people, huddle tight. Theo Goodman. That's clearly the end for Bitcoin. Everyone, it's just, it's the final death blow as we've been waiting for. And Simon Dixon is probably right. And he's just, you know, been proven right here. But really, as we talked to, sorry, not Simon Dixon. Anyway, the guy that said that we talked to Simon Dixon earlier. So I slipped up, sorry. As we talked to Simon Dixon earlier, there is not a criteria yet for them to re, but it does look like kind of like what Jimmy was saying is that they're gonna wanna figure out, they're gonna shut them down. However, maybe audit them, figure out users, how they get their funds, and then maybe re up. And we don't know when that happens. But you know, that's a change. I mean, if you are into Bitcoin anyway, it doesn't really change a whole lot. Still 21 million, it's gonna be 21 million. Still everything else. And also, more people, also with the bad news, more people hear about Bitcoin like that too. You know, Bitcoin ban, that's a great headline. People read that and they learn about Bitcoin and then the cat's out of the hat basically. So I don't, you know, I guess that at this point, I'm pretty neutral with all the China ban news after all the years of it. So it's just another China ban news event. And yeah, the price really did some dip in rip today. And let's see what happens further. Tone bags. All right, let's, let's do a quick look at the price. And then I'll talk about general commentator. I don't have all my charts, just a couple. This is the four hour chart for what I'm hearing. This has been like the best four hours gain in the price of Bitcoin we've ever had in numerical terms. I'm sure not in percentage terms. And the rebound came just under 3000, which actually makes, I mean, I can't scroll back too far because this is just a four hour chart. But this was one of my points for a possible major rebound because this is where the previous high was. When prices start to drop, they tend to find bottoms where the previous highs were. I'll try and get my show out soon and maybe tweet out a couple of more charts. So on the four hour chart, there really was no indication here for a potential buy point today. Now on the one hour chart, there was an awesome buy signal right here. It was coming off this doge. And you had this low breaking 3000, just like we hit the top just below 5000, we hit the bottom just under 3000 where people don't really expect it. So this was actually a perfect reversal. It almost made it to one of my nines. But at first, this candle was a nine telling me to buy it, at least, and enough people bought it, we just ripped it the upside. I actually do think the bottom is in. I do not think this is a dead cat bounce that's gonna take us down. Right now, the most likely outcome is back to the top and the most important thing telling me that you had one hour to hit the low. Not even an hour, you had less than an hour to hit the low. The price was only below 3000 for a total of 20 minutes. And if you've slept through it or you want to make a sandwich, you could not have caught the low and you never even came close to a second shot at the low. Now, the reality of the situation is, if we come back down to 3000, it becomes very scary to where we're probably gonna drop and drop a lot and it'll go significantly lower. So in reality, your new support point is around 3,400 this prior high. If it falls, your 3,300, 300, this area here becomes your new buy point to get you back to 4000 and above. So let's hope we get there. Now, quick commentary on China. I still continue to battle libertarians because I agreed with Chinese government when they came in and cleaned up the volume. I then agreed with the Chinese government when they came in and tried to clean up ICOs. And now they're trying to take their authority over the Bitcoin exchanges and everyone is saying, see, are you happy now? Well, I don't care, right? Like, your government banned exchanges in 2013 and 2014, trade-held co-host Charlie went to prison. Like, we've been through this before. Then Coinbase came out saying, okay, we're not gonna be, we're not in exchange. We're just gonna, KYC everyone will buy Bitcoin from them, we'll sell Bitcoin to them. And then slowly, there was licensing and they got the exchanges. Now, do I really want licensing? Well, from what I've seen, libertarians trying to police themselves, yes. At this point, yes. And China was looking at all the scams ICOs, just like us and they said enough of this. And yeah, the exchanges have gotten big. They want their cut. And what are you guys thinking? Did you really think that like, you talk about Bitcoin as this disruptive technology that's gonna destroy the banks and destroy the governments? And then you're upset that they come after Bitcoin? Like, this is what I've been ready for since the moment I bought my first Satoshi. I've always been under the impression that Bitcoin is gonna be the new drug war. A holder of Bitcoin will be a criminal. This is the impression that I was living under. If you're the one that thinks that the government is just gonna sit back and let you run your Bitcoin operation without giving you a hard time, who's the delusional in this equation? That nothing has changed. Bitcoin remains this force against the government and let's see what we can do. All right, moving on to the exit question. The price of Bitcoin this time next week, higher or lower? Have we seen the bottom? Jimmy saw him. We've seen the bottom, I think it goes higher. Yeah, you didn't call on me, Thomas. Oh, I guess they're frozen. But I'll just go next. Yeah, the price of Bitcoin in my opinion is definitely gonna be higher next week. We've seen the bottom and I think Tone will agree as well. Theo Goodman. Three, eight, eight. All right, Tone, man. I'm gonna go ahead and get the money. I'm gonna go ahead and get the money. I'm gonna go ahead and get the money. All right, Tone Vays. Yeah, I think next week will be a little bit higher. I think we'll be back about $4,000 late sometime. Maybe not next week, but definitely the week after. All right, and I think higher as well. Moving on to issue two, issue two, Jamie Diamond. The traditional banking industry also set its sights on Bitcoin this week with JP Morgan Chase CEO, Jamie Diamond Ranting and Raven against the fledgling cryptocurrency. Using every end of the solid in the book including calling Bitcoin a fraud, worse than the tulip bulbs used only by drug dealers and murderers, diamond then predicted ominously that this wasn't going to end well. Jeffrey Jones is Diamond right? Yeah, a fraud, worthless tulips used only by drug dealers and murderers that will not end well. Yeah, it's kind of funny. People keep using this tulip analogy, but the problem with that is that tulips crashed and never came back. Bitcoin has come back time and again, time and again, time and over and over. It just does not die. In fact, I believe there is over 160 obituaries at this point on Bitcoin obituaries, the website. So I think it's definitely pretty crazy to call this thing fraudulent at this point. I mean, I'm sure I can understand, okay, 2011ish, right? It's so grown is all the rage and maybe like, you know what, this maybe doesn't sound good, but if you understand the economics of Bitcoin and you understand the basics of Bitcoin, you can definitely see that there is nothing fraudulent about this and it's so far ridiculous that Jamie Diamond's own CIO of one of his major companies called them out on Twitter, telling him to shut the hell up. Literally telling him he's freaking crazy because this is just ridiculous to say the Bitcoin is fraudulent. Hey, you want to call it a bubble, find whatever you, but you know, we've had four or five bubbles already and we're going to have a whole hell more before this thing is said and done. But just don't call it fraudulent because everybody spoke out against them. He was literally his own meme pretty much on Twitter after he said that because everybody kind of just jumped out and said, look, you're freaking crazy, dude, this is not how it is. So Bitcoin, it's got a lot more upside, you know, it's got a lot more potential. We're still early, early days. I try to stress this on my show all the time that this is early, early days and we got a lot more people like Jamie Diamond to convince. But at the end of the day, everybody knows that Bitcoin is a honey badger and doesn't freaking care with Jamie Diamond thinks. Doesn't even apparently care what China thinks where I already back over 3,600. So, you know, I just have to say one more last point to agree with tone. I've been agreeing with tone more and more on his points about how, you know, we need to actually regulate exchanges and not people, right? Get rid of the KYC and just freaking regulate the exchanges because that is where all the money is being held and represented in a situation like that. You need to freaking have some kind of regulation. But, you know, people like Jamie Diamond, they're just going to continue to bad mouth Bitcoin because obviously their business model gets absolutely destroyed by Bitcoin and this is going to cause some pain. And the rest of the people like us, all the hotlers, you know, we're just going to ride this wave all the way up and laugh all the way to our Bitcoin wallet. It's a real shame when new technology destroys old business models. I'm not even sure what time it is in the States, but if everyone could give us a thumbs up in a share, that'll help more people find the show. Thank you to our 532 live viewers. Now, feel good, man. What do you think about Jamie Diamond? I think Jamie Diamond, he must just not like the way the tool looks. Maybe he likes roses or dandelions or another flower. And that's fine. That's subjective. Now, with a lot of other things, he's right and that's good. And that's what gives one reason Bitcoin is valuable. Yes, it can be used by drug dealers and is used by great. Could be used by murderers, who knows? I mean, US dollar can be used by murderers too. Anyone can use it. The price is not going to end well. Well, that is really a good vague price prediction that can never be wrong. Because it could end well, not end well for a lot of people. Bitcoin is a scam. No, but it does equal the playing field in the sense that it makes it easier for anyone to run a scam a lot easier. So now you don't have to be in office or have a lot of no house or run a scam now. So that's not and that's and makes it easier to run fraud. So basically, I would agree with some of the his points that just come to the opposite conclusion. Exactly. Ski out the bill. All the old scams are new again. Tone vase. What do you think? All right. So let me talk about my former CEO here for a minute. Okay. So I'm not going to obviously we all know that Bitcoin is not a scam. But I'm not going to like debate you and me that I'm Bitcoin. I will just, you know, explain it from his point of view. So let's begin with the fact that he's the CEO of one of the biggest companies in the world. He's a pretty busy man. It's not like he could sit down and watch the world crypto network. Okay. It's not like he's reading like actually good articles about crypto. He's not really paying attention. Like this is not really at his radar. So expecting people in those positions to accurately speak about the later the new technology that they're not involved in is not going to, I mean, he's not an expert in this, you know, he's an expert running a bank. Also right now he's pitching for his next job. His next job will most likely be replacing Janet Yellen to run the federal reserve or potentially being the treasury secretary. So he can't exactly come out and be open to Bitcoin, which is actually more of a threat to the US, to the government currency, that it is the banking system. The banking system can still perform the same function with Bitcoin, look at Coinbase. They're not really doing a good job, but they are pretty much a Bitcoin bank. So the business of banking is not really threatened by Bitcoin. It's the currency itself. Clearly people still need banking. So you have to take it from those perspectives. I mean, he's just defending and his own future. I like the legacy of the US dollar that made him rich. So he's got his own reasons for saying it, whether he's right or not is obviously, we know he's not, but there are reasons for him to say that. I mean, I don't really, I mean, I disagree with him, but I didn't really think this was a big deal. I've heard Jamie Dimon's daughter is the real brains of the family. She started buying Bitcoin all on her own. There's more than one daughter just to beat. So guys, let's not harass people's daughters just because they like Bitcoin. And just like, yeah, I don't know, just don't believe in all of your movies. Don't lie. And of course, Jamie would be helped if he watched the World Crypto Network. Jimmy Song, I've got some stock in the tulip farm. Could I interest you? Well, I mean, Jamie Dimon has successfully entered the ranks of Professor Bitcoin and Paul Krugman in criticizing Bitcoin. So congrats to him. I guess if he likes those guys, then he's in good company. You know, I mean, he joins a long list of people that have been wrong and he's relying on people appealing to his own authority, something like that. And like, tone was implying, the people that are in authority often don't know many of the details, which is often why we get a lot of bad bills from Congress and stuff like that. They don't know what the hell's going on, right? He just sort of tells them. I mean, we don't really need to convince Jamie Dimon. Like, I don't know why this is a story. I have suspect that like most revolutions, we're just going to have to kind of wait for him to die. And that will be how we convince people like him. And he's just his voice just isn't going to be around anymore. I really wish he would provide arguments based on real. But he at least the trolls on Twitter and RBTC or our Bitcoin, whoever does this, whoever does. Most of them at least have some argument. They're not just sort of like strong and argument like Jamie Dimon is. It's not very interesting. It's kind of like arguing with a child for me. That's kind of what he is in regard to Bitcoin. He's just sort of like throwing a tantrum about something or other. I don't know what he's doing. He doesn't interest me very much. So I don't have much to say about it. Moving on to the exit question. The, just covered up exit question. How long will it take for the market cap of Bitcoin to be greater than the value of the JP Morgan Chase company, including their customer deposits? Right now Bitcoin is around 170 billion. JP Morgan Chase, around 320 billion. Jeffrey Jones. It's really not going to take very long. And though you did say 170 billion, Thomas, that is of course for the entire crypto market, not just Bitcoin. But still, even just Bitcoin, I absolutely believe we'll take over that market cap by 2020 easily. I mean, this is just an empty asset. This is a brand new asset class with nowhere to go but up. It is absolutely empty. So there is so much upside, so much room and so much potential that in my opinion, I mean, this could take it over as early as next year. But absolutely by 2020, by the time the next having happens in 2020, and people are going to start talking about this a lot more next year as we get closer. But by the time the having happens, I mean, holy crap, it's over. The regular, the regular people won't even be able to afford an entire corn. So, you know, the economy will be, will be absolutely fleshed out at that point. It's just, it's pretty much over by 2020 and probably Jamie Diamond's career as well. You know, good man. When will Bitcoin price pass, JPMorgan Chase? There's eight months and eight days. Tone days. I'm pretty sure going into next decade, Bitcoin would be way higher than JPMorgan Chase's market calendar. Jimmy Song. Five years and we'll be looking at 5,000 as like an insanely cheap price. The answer is two years, three days and four hours moving on to issue three, no two X. And then, the weekend at the breaking Bitcoin conference in Paris, Jimmy Song hosted a mining panel featuring representatives from Bitfury and other signatories of the New York agreement, aka Segwit2X. During this panel, they revealed some dramatic information that we will now relate to you. When the two X agreement was made, it was said that if there is one chain, the miners will be forced by the agreement to mine the new Segwit2X chain. However, if it was going to be contentious, that being said, if there was more than one or perhaps two chains, such as the current situation with the B-Cash split, the miners are not bound by the two X agreement. The two X agreement is not a suicide pack. If there are two chains, the miners can choose which chain to mine. Theo Goodman, will the miners back out? Will there be no two X hard for? The business sound is going to be a two X hard for. I don't know. The miners will just go, the question is if they are going to do the two X for, that seems pretty much off the table at this point. Who knows what the future is, but it is not going to be part of the so-called two X agreement it looks like at this point. Jimmy Song. I am not really sure what is going on. I do get the sense that there is a lot of ambiguity around this issue. It would only take one miner to cause a hard fork. It is really hard to say whether or not it will happen. It would require consensus in order to not have a two X hard fork, just as much as it would in order to have a single chain after a hard fork as well. It is fairly clear to me at least talking to some of the mining panelists afterwards that a lot of miners are looking for an excuse. This might be a very good excuse. You promised us one chain after the two X hard for if we don't have it, then you broke your promise. This might be it. One thing to think about, where are all these miners going to sell their coins? I guess they could do OTC trades which are still legal in China. This may cause them to be a little bit more price sensitive than they were because there is no exchanges for a lot of these farm-ridden miners and funding them and getting bitcoin in that way in order to send a broader whatever. This might end up changing the equation just a little bit. We know Jimmy Song you have to leave soon. Do you have any thoughts on the World Crypto Network going global or any kind of prediction or story of the week? My story of the week is the programming blockchain seminar that I ran last week in Austin, the one in LA. It is a two-day very intense seminar. I actually showed the slides to a core developer this past week and he was like, wow, I am not sure I know all this stuff. Maybe I need to take this class. Maybe very intense, very thorough explanation of bitcoin and its inner workings. It is my vision to supply the ecosystem with more developers so we can be immunized against more attacks. I want to ask World Crypto Network to go visit Switzerland because I think that country is absolutely beautiful. I think that is where you should go next. Thank you for having me. The programming blockchain seminar in LA and I know it is not announced yet. I will have the same seminar in San Francisco before the scaling bitcoin conference as sort of that week. Also, Jimmy, we have a question from the audience. What did you think of JJ's reveal of the core bleed bug? Should vulnerabilities be disclosed or should they wait until after the patch has been released? I talked about this a little bit on my show off chain earlier this week. It is a tricky situation because it assumes a common ethical standard which I do not have to acknowledge JJ never signed anything that said, hey, I am going to do this this and this way. You can condemn him if he did not tell a little bit of a start that he was not going to give that talk and then went ahead and did. In which case, that is clearly lying and I think everyone can agree that is bad. Assuming it is some miscommunication or something like that, my view is that you do not want to discourage people from disclosing bugs because if you put too many conditions on his revealing something, the next guy that has an exploit, they are just not going to reveal it. You want responsible disclosure. I think he did 80-90% of the way there. He told Peter Wola, he told all these other people, all these other things that he was going to, he had this exploit and that they had time to go fix it. Should he have waited probably? To some degree, I am happier that he did the responsible thing and revealed it to the right people before disclosing it. I can't find myself condemning him too much for revealing something that he disclosed to the relevant people beforehand. Jimmy, you said that he is the one that revealed it to the court developers like Peter Wola but I have heard that Peter Wola had already found this himself like a month or two months earlier and had already been working on a solution or had it fixed. Can you clear that up? Do you know anything about that? Who is right? Those are two very contradictory views. Yeah. So from what I heard, Peter Wola was working on this because it is just a very good general database optimization. Actually, John Newberry wrote on the Quintet Talk this morning about some of the 0.15 features. And yesterday's article had the PerkTX output database optimization. That is something that people have been wanting for a long time. It just so happens that that also fixes this thing. And people have wanted this for a few years actually. So it is not that he found this exploit. He just sort of everyone in the community knew this would be a good thing to do because it reduces memory requirements of running a full note. So it is not one of those things seg with accidentally got rid of Asick Boost. So this is like the same kind of thing. He was already optimizing something. And this is exactly what I would have it. JJ's presentation was, hey, oh, it is a good thing that Peter Wola had put this in. I had been talking to John Newberry before about the series of articles we had planned it right after 0.15.0 came out. So I had known about this optimization. And as he was saying it, I was like, oh, yeah, the 0.15.0 would definitely fix this. It is a good thing. It is almost out already. But yeah, it is one of those things where if you just coded it slightly differently, it is not a vulnerability at all. So he just happened to find a way to maximize the memory usage in that particular use case. And obviously it costs a lot of money to do because you need these enormous transactions with a lot of outputs. And then you need this giant transaction with a lot of the same using an input from lots of these different transactions. And that is how you get the vulnerability. But it requires so much block space and so much fees that it is relatively difficult on Bitcoin. It is even kind of difficult on Bitcoin cash because miners are going to get start getting suspicious as soon as they see the 100th, 100 kilobyte transactions. So yeah, that is my thought on it. I really have to go guys. Thanks for having me. All right. Thank you so much, Jimmy. For being on the show. We appreciate it very much. And just to the rest of the audience, we are up to 626 live viewers. If everyone could give us a thumbs up, that is how YouTube recommends the video to other viewers. So it could help us get some more. Tom Bayes, what are your thoughts on the No2X hardcore in the conference? Well, now I really wish I was at the conference. I was in Zurich, however, almost during that entire time, which is where Jimmy was to go next. And I surely recommend that, but we will talk about that later. So maybe I was always under the impression that 2X wasn't going to happen, especially once B Cash didn't immediately die. If B Cash had immediately died, there would have been a chance to try again. If B Cash would have been a total success, which I don't believe that it is, then there is no need for the 2X hardcore. And with B Cash kind of lingering around, it became a very complicated situation. Now I think that these miners do want an out. And it looks like they got their quasi out by saying that there already is a second chain. And since that a single core developer managed to come on board, the next hardcore will also be controversial. But I think what's going to completely annihilate any thoughts of 2X is how many nodes are upgrading to 0.15. Now I would love to upgrade my nodes to 0.15, but my node is in New York, and I'm here in Europe. So I will be upgrading my node the moment I arrive back home, which is probably in about three weeks. But as more and more people start to upgrade to Bitcoin Core Client 0.15, it's like saying no to the 2X hardcore. So as those numbers tick up, the way they ticked up for the user-activated software nodes, and this is a lot easier. I mean, we saw all of this support for the user-activated software, and that was a lot trickier to put in place on your node because that wasn't a sanctioned client or a sanctioned use of the client from all the core developers, but 0.15 is. So as people downloaded, it will completely squash all expectations of the 2X hardcore. All right, moving on to the exit question. Also at the Breaking Bitcoin conference, Christopher Jeffries, aka JJ, revealed the core bleed exploit, which by overloading the RAM allowed him to crash the Bitcoin node. This set off a major uproar of the conference, as JJ had promised not to reveal the exploit as the fix and not yet been deployed. Jeffrey Jones, should the exploits be kept secret or made public? So I'll comment on that first time, but then you didn't call on me for the 2X. So I'm going to comment on that after this. So for the reveal, again, a lot of good stuff was said by Jimmy, but in my opinion, there is just no right way to do things. You can only do things to the best of your ability. So revealing it to some people first, some actual insiders, some people who work on the protocol that could maybe actually create a fix and things like that, that's what you got to do. You have to reveal it to the people who can fix it. And after that, it's anybody's game at the pins. If there's a fix that can be fixed quickly, sure, announce it. If the fix is going to take months and months, well, probably keep it secret. It's all relative to what the actual damage is from the problem. So my opinion, JJ did a decent job, as decent as you can do. Obviously, people like Peter Todd don't agree with that. But in the future, we can learn from this. This is just another learning experience. This is all new. It's early days. So this was, in my opinion, a great learning experience. And I very much thank the people like JJ who are keeping on top of the protocol development to make sure that things like this don't get revealed too easily, to make sure that hacks don't come out and just destroy the blockchain itself. So thank you very much, Cord developers, and thank you, JJ. Now real quick, I did want to comment on the previous topic, which was the 2X. So really, I had an interview on my show with a couple of Chinese miners. I encourage everybody to check that out a couple of weeks back. And from what they revealed, it seems to me that most of the miners out there in China really don't care too much about the protocol development. They don't really care too much about the actual ideologies behind Bitcoin and these types of coins. They mostly care about profit. They're hardware people, right? So they really mostly care about getting all the hardware, right? And mining, what they think and feel will be profitable for them. So we saw what happened with B Cash, and yes, I'm going to call it B Cash, not Bitcoin Cash, but what we saw happen with B Cash, where the miners went back and forth, right? They went back and forth to whatever is more profitable. Now that's no longer the case because Bitcoin Cash has mostly been debunked as just another altcoin at this point. It has been revealed by many smart people in the actual community that it's just not doing very good, right? They can't produce big blocks. They can't produce, Bitcoin is outperforming them like crazy. So it's just not even a comparison. But people do at the end of the day want their free money. So my opinion, I think that the 2x4 is still going to happen, but it will be almost a complete non-event for the actual Bitcoin blockchain itself, just like B Cash when it came out. It really for the most part, didn't affect Bitcoin, right? Bitcoin kept on going, kept getting a new block every 10 minutes. Maybe it took a little bit longer, but we still kept getting those blocks and everything still kept moving and churning. It was almost a non-event. And I definitely believe that since the release of 0.15 from Core to completely ignore these 2x nodes, that it will be another non-event. Sure, maybe we'll get a fork, maybe we'll get some more free money, but it's not going to affect Bitcoin. Bitcoin is just going to keep right on going. And there's really nothing at this point that can really even stop Bitcoin. So that's my opinion. I think that we'll just keep right on going just like I was. Theo, good morning. Jay Jay. About Jay Jay. About Jay Jay. You know, of course, you should do these kind of things with the, to have the lowest risk for everyone as possible. I mean, come on. And don't use, not, I don't want to say that I know exactly what happened in all the back story. I don't. I don't think it's if this, if it was the case to use this in a, it is a political, as political leverage for something, I definitely disagree with that. So it was somehow kind of a mistake or miscommunication, then fix that you could come in and come in better. But if it really was you being used to some kind of leverage, I don't think that it, that's horrible. And I think that, you know, that it could, you don't even know. And the thing is, when you do something like that, you don't know exactly the effects. You don't know what kind of Pandora's box you could have opened by that by doing that. So that's not, that's, I don't think it should be done that way and things like that should not be used for leverage. And Theo's right with the Pandora's box analogy. It wasn't just that three out of the four Bitcoin node versions hadn't had their release released. It was also that this could affect many altcoins and there could be other collateral damage as this exploit could be applied in other ways. Tone base, your thoughts on JJ's exploit. Yeah, I'm going to take Peter Todd side here. I really did not like the way that hopefully went down. If you actually like the Bitcoin protocol and you discovered this kind of vulnerability, and you can't fix it, right? You can either discover the vulnerability, start working out a solution, create a solution, then you can bring both vulnerability, MSN, and at least a partially working solution. And then you will get most of that all the credit for both discovering it and solving it. If you are incapable of doing a solution but you're able to find the problem, you bring the solution to the developers that can't solve it and I'm pretty sure you would also get the credit for finding the problem. But doing it that way, I'm not happy with it at all. Now, the other side of it is when something like the CIA or the NSA found the vulnerabilities in our internet, they don't present the solutions to Google or Microsoft, they go ahead and exploit them. So this is the kind of route you're going into. And when you do something like this, what is there to gain other than trying to prove that you're smarter than other people maybe but you didn't bring the solution with it? One more example on this, the way you do these things right is what happened during AMP bleed. When AMP bleed was discovered, it was not immediately released because some people were very upset about like, oh, how come you didn't bring it to the world to see? Well, no, the people that found AMP bleed wanted to come up with the solution. So people running those AMP miners would immediately have a way to remove that from being of vulnerability. So you don't even, and wouldn't even like BitMain, but we, but people that found AMP bleed bug or feature, they wanted to immediately present the solution. And that's how it's supposed to be done. Excellent points, Tony. And we're moving on to issue four. The world crypto network goes global. As you can see from our new logo, graciously designed by Bitcoin artist CryptoGraphy, the world crypto network, aka the WCN, has truly gone global. With Thomas Hunt and Jimmy Song broadcasting live from Paris in front of the Eiffel Tower, Tongue Bay is broadcasting live from Zurich and Theo Goodman joining us in Germany. We're now live at the blockchain hotel in essence Germany. Also this week on the today and Bitcoin show, thanks to my friends Ellie and Maria, we had four languages including French, Russian, Arabic and English, Tongue Bay. What is next for the world crypto network? Yeah, no, this has been a lot of fun. Zurich is a really good spot. Jimmy mentioned it earlier. I know he had to go. I did a meetup in Zurich. It was the biggest meetup they ever had. And Andreas and Phenopolis had spoken there twice. So I now hold the record for having the biggest crowded Zurich for a meetup. There was over 400 people that showed up. And then the following day there was a crypto focused event. Zurich is very popular for crypto. A lot of the companies are going to one of the cities in order to incorporate. So yeah, so Zurich is great. Now we're in Germany. I'm going to go to two more cities in Germany. Munich is one of them. And there'll be one more. I can pronounce some of these German names. But and after that, well, we have Italy and Prague. And I might be heading off to Ukraine. Yes, so we're going to go around and then hopefully come back into our Asia next time or South America. The world, Jeffrey Jones, we really put the world in world crypto network. What do you think? Yeah, I mean, you guys going around to the world like this has absolutely been amazing. I it's been a treat for me. It's I hope it's been great for the audience. And I think that we are growing right along with the Bitcoin price, right? It really has been raising all ships, the this tide of Bitcoin. And I see content creators in the space all over getting their viewers increase, getting their subscribers increase, getting their Twitter followers increased. And we are definitely right alongside with them going up. And so I really hope that the viewers are enjoying this because we do have a lot more and so for the world crypto network, both this year and next year. We got a lot of things in the works and I'm really excited about it. I'm really excited to share some of the things eventually that we're doing. And I really, I almost have no words. Like I'm so excited. This is really amazing. I actually, like I said mentioned earlier, I had some some miners from China on my show a couple weeks back. And I've had people from all over the world. I'm going to have a gentleman from Canada, you know, Francis on my show on this Sunday. And we have Simon Dixon in China. And so it's just, it's been really great to see Bitcoin grow up, to see the world crypto network to grow up, to see more and more people around the world get experience and exposed to Bitcoin. And the number is that tone is throwing out, you know, with all of these people at these conferences, just hundreds of people all around the world joining all of these Bitcoin conferences. I mean, it's absolutely amazing to see. And I really am having a great time. And man, I can tell you next year is going to be even bigger. If you guys think this year was big, this is just the beginning. Next year is going to be huge. Yeah, good. My dear thoughts on us going truly global. Well, you know, hey, I mean, you're we're always been verbal. So, you know, and we did, we did coverage from Hong Kong. We did coverage from Simon Dixon's been on world crypto network a few times, different on vortex. I did an interview with them has been on there. So we've had, you know, different people for all time. But yeah, this is great. Traveling around, you get to meet people in person and get away from internet trolling. Sometimes if you can meet people in person, they might not agree with you. That's a really good thing to have a discussion in person. Where should exit question, where should world crypto network broadcast from next? Okay, so I have two. So in Europe, if you, if we're going to do Europe, then it should be and Dora or Liberland. And for the world, then I think maybe Vietnam, because that's kind of like a cool hot spot. And I think it's a real interesting area. It's not China, not that I'm a kid in China, but we talk about China a lot. Yeah, I think maybe go to Asia, go to India somewhere, maybe somewhere from India, Vietnam. I'm pretty sure I've done the, the Bitcoin problem. Vietnam, okay. Yeah, I was there for one of their comrades. I'm actually working, when I get home in October, I need to immediately file for a visa to Venezuela, because I want to do a show from Venezuela in the beginning of the year. That's where the real Bitcoin action is going down. I will try to bring you a show in January from Karakas. So the guy from, just a quick funny, or not funny, interesting. The president of the Berlin was here at the conference. And one of the co-hosts of the conference even said, Mr. President. I just got, sorry, I just had to have a little sign. I just couldn't help. I mean, hey, the Berlin Do you want is just a funny, it was just a little ironic blockchain, then, let's say. And I just want to say, I've really been enjoying my trip. Everyone's been really great to me so far. Europeans are incredibly kind. They've allowed me to sleep on their couches and opened up the blockchain hotel to me. And it's really fun to meet people. I always come up and I say, hi, I'm Tom. And they say, oh, I know you're Tom. And it's really strange the way that so many people watch our videos. And we can never tell what's going on on the other side of the screen. But we really are having an effect. And our goal is to educate people and to talk about Bitcoin, to just get these ideas out there. We don't know where we're going next. Maybe Munich, maybe Berlin, maybe Amsterdam. But keep a tune to this network. We've been at a lot of great conventions recently. I just want to highlight some of them right here. We went to the Breaking Bitcoin Convention in Paris, France. Right now we're at the blockchain hotel in Essen, Germany. And very soon we'll be at the hackers congress in Prague. Should be a great convention. We're very excited to do that. Jeffrey Jones, where should we broadcast from next? Oh man, where are there so many amazing places? You know, so far you guys have been releasing awesome pictures. Thomas, your your mad tour has been just going off without a hitch, it seems. I mean, you have so many awesome pictures that you've been tweeting. So where to go? I actually don't even know. I would really love to see some more some more shows from Europe. But man, that what Tony mentioned, Venice, Waila, that has definitely picked my interest. As Tony said, that is where a lot of Bitcoin action is happening on the ground, saving people's lives right there. So that would be, I guess, my vote. Definitely Caracas in Venice, Waila, looking forward to that tone. You both are on your own. You can go to Caracas without me. I'll step to the more developed countries. But just like to thank everybody for watching, we had around 660 live viewers. We're going to move on now to the end of the show, to predictions, or story of the week. Jeffrey Jones, are you ready with a story of the week? I'm actually, I should have done that already. But really, my story of the week is just hashtag mad tour, people. Hashtag mad tour. Everybody needs to follow Thomas and his adventures. So many cool pictures from pictures on the train. And even Eric Lombroso, all of these people who are over there in Europe, tweeting all these pictures have been amazing and fantastic. The pictures from Paris, particularly, of all the architecture, it's been beautiful. So Thomas, just keep it up, man. I'm really enjoying it. And I think a lot of other people are enjoying it as well. All right. Theo Goodman, story of the week. Story of the week is Americans fascination with European architecture. Nah, I'm just joking. Actually, yeah, I'm not ready. I don't have a story of the week. Story of the week, of course, is China, Dumbit causing everyone to dump, everyone to panic. And then it's doing dip in. I think the story of the week is the dip in rip on Friday of the price dumping and then pumping. And you saw that the conference the whole morning, there is people, they come to me with the funding. Deal with what's going on? What's going on? What's going on? And they're like, do you see? Are you happy today? I'm back to that. I'm here just, you know, we're at the conference. I can't hold the price all the time. And they're come back. Hey, did you see this? Did you see this? So it's just been dip in rip. The story of the week is Friday, dip in rip. Tone Bay's story of the week. I'm going to go with the prediction. I'm going to say that all of the price action of the Chinese events is has totally been priced in the moment. BTC China tweeted out that they're going to shut down their operations by 930. The market immediately priced in the assumption that every exchange will be shut down by 930. The moment the additional reports started coming out today that, wow, it's not really 930. They're given to the end of October. And the Chinese government is being somewhat flexible because they understand that these exchanges are starting to get a little too big. And they can just completely go down. And by that time, there will be plenty of negotiations and some, you know, kickbacks in order to somewhat keep them operational, at least in some way, shape or form. So my prediction is that the worst case scenarios have already been factored into the price. That doesn't mean that the price can't go lower. But the panic is already in. I do believe we have bottom as an opinion. And hopefully it's back to the outside from here. I just want to echo what Jeff said. My story of the week is hashtag MadTour and at MadBitcoin is on Twitter. I had a great time touring Paris. I saw Napoleon's tomb. I saw the Monet's water lilies. I went to the Pantheon. And I just walked around Paris in general, which is beautiful. I've never been there before. It seemed like they had put statues on the edge of every building. And they were all, each statue was better than the last. I haven't seen much of Germany so far. I was at the blockchain hotel conference today. I'll be there again tomorrow tweeting, showing pictures of people's slides, talking about what's going on. And then hopefully I'll get to see a little bit of Germany. I hear they have castles here. The forest looked great already. And then onto maybe Amsterdam, maybe Prague, Budapest. A lot of great people have offered to host me. Thanks so much to everyone's kindness and hospitality and generosity. It's been a great world tour. And it's still going. And as always, we've got a donation code. If you want to send us a few bucks, go ahead and scan this Bitcoin code, maybe you're in a good mood because the price came back from going down. And we had a great time bringing you this show. Hopefully the audio was good enough. We're using a crazy German Wi-Fi and just hoping for the best and trying to turn off the video and whatever else we can do to improve the quality and deliver a good show to you. And we'll be back tomorrow with the today and Bitcoin show. We'll be back on Sunday with the Bitcoin news with the vortex right here. And until next time, bye, bye. Bye, guys.