The Bitcoin Group, the American original. For over the last 10 seconds, the sharpest Satoshi's, the best Bitcoin's, the hardest cryptocurrency talk. We'd like to welcome our panelists, Jimmy Song, Bitcoin developer. Hey everybody, good to be here again. Toned Vays from Liberty Life Trail. Welcome guys back in New York, should be fun. And I'm Thomas Hunt for the World Crypto Network, moving on to issue one, Segwit 2X. On November 15th, the corporate takeover of Bitcoin begins. A combination of Bitcoin miners and digital currency group companies have signed on with the New York Agreement, aka the Segwit plus 2X agreement. Declarating that from this point on, Bitcoin will no longer be a science project ruled by a mailing list, a bit process, and a GitHub account. From this point on, the GitHub account will be owned by the corporations. And when they desire more transactions, all they have to do is pick up the phone and tell their programmers who will say, yes sir, this episode is dedicated to discussing all aspects of this attack in detail and attempting to answer the question, will the deceptive Segwit 2X attack succeed? Issue one, technical attack. Segwit 2X makes an exact copy of the Bitcoin blockchain and may confuse SPV nodes as well as to which chain to follow. It does not include replay protection, assuring that it will not just be another altcoin like Bitcoin cash. Its transactions may be replayed on one network or the other, costing users their hard-earned bitcoins or 2X bitcoins. Additionally, it uses the same address space as Bitcoin. What is wrong? Will the technical attack of Segwit 2X be successful? Absolutely not. I think people will be much, much more careful with their money than a lot of scare mongers are saying. People own a lot of Bitcoin, right? And when you have money, you're going to be very careful with it. There are ways to protect against replay attacks, including faucets and things like that. I outlined it in an article I wrote earlier this week. If you just buy a dollar's worth of Bitcoin on an exchange, whichever fork that you want, Bitcoin 2X or Bitcoin 1X, I guess, whichever one that you want, you just buy a dollar of it, get that UTXO and that's a replay protected UTXO. You spend your Bitcoin with it and your replay protected. It's not like there aren't other options. There are ways to protect against replay attacks. As far as SPB nodes go, Luke Dash Jr. came up with a really easy way to figure out whether or not you can figure out which side you're on. Just download the forking block. If it's greater than 1 megabyte, then you're on the 2X side of the fork. If the, download the legacy version of the forking block, and if it's greater than 1 megabyte, then you're on the 2X side. If it's 1 megabyte or less, then you're on the other side. It's not that hard of an upgrade to make. It may be fooling some if you don't upgrade, but again, you got to be careful with your money if you're holding it. That doesn't make sense to me, because the new fork is coming off of a larger block. It's a fork off of segwood. On the B cache stuff. This is why I'm saying it's a legacy block size. There are network calls for non-upgraded nodes that you can make. The other nodes will tell you what a backwards compatible version of the block. That still has to be 1 megabyte or less. If you get the real block, which has all the segwood information, it can be greater than 1 megabyte. As an SVV node, you can pretend to be a non-upgraded node and ask whoever you're getting your SVV information from. Hey, can you give me this block and pretend you're a non-upgraded node, pre-segwood node, and they will give you the block. If it's greater than 1 megabyte, then you know you're on the 2X side of the hard fork. If it's less than 1 megabyte, then you're on the 1X side. There's a pretty easy technical solution to all of this stuff. It's easy enough to solve. It's just you need people to go and do it, which obviously is very easy. Do you really replay protection could be solved, but technically, do you believe they'll be able to make a copy of the blockchain and provide a hard fork similar to the B cache project? Yeah, I mean, that's exactly what they're doing, right? They're going to hard fork. While it developers, it's going to be painful for them because they're all going to have to do something to be able to, especially the SVV, while it's to something to detect which side they're on, it looks like they're talking about some sort of opt-in replay protection, which you may be able to utilize as well. But yeah, I mean, there's so many ways in which you can protect yourself against it. If you're a holder, you don't really care. You're just going to wait it out anyway until there's a well-known, well-proven solution and you're going to utilize that. In a sense, I'm not as sympathetic to the hypothetical, really ignorant, and really reckless newbie that everyone's trying to protect them from themselves. If you are stupid enough to make rash transactions right after the hard fork, well, that's on you. I think most of the Bitcoin space is saying, there's this big thing coming up, be very, very careful, and you don't listen to them. Well, that's, again, on you. And we don't need to protect people from themselves. I think people should go and learn what it ever is that they need to learn. There are ways to protect yourself. There are ways to upgrade your wallet. Go do that first instead of rashly saying, I'm going to transfer 200 coins to Coinbase and I don't care. Whatever. Again, if the SPV wallet developers do nothing, which chain will their wallets go to? It depends on what the server is. So my salient has customized servers and who knows what they follow. Other ones like Electrium has Electrium servers and I presume they'll be on the one X chain because their developers seem more sympathetic to that side. It really depends on the servers that these wallets sort of depend on. This is why Bitcoin developers say SPV is dead because there's no real way to verify a lot of this stuff. If they were doing a really good hard fork, what you would do is have some bit signaling in the block header that tells you what fork you're on. But that's not something that any of the hard fork so far have been interested in. But regardless of that, I've said this before about replay attacks. It's not really a consumer issue. Most of the time when you're sending bitcoins to somebody, it's to an exchange or service or something like that. Those people, if your transaction gets replayed, they just got some on the other chain, they're going to have to refund it to you or else you are going to sue them. A lot of other consumers are going to sue them as well. They don't have to send it to you right away, obviously. But they do have to eventually, I mean, there are consumer protection laws against this very thing. If you hand somebody a hundred dollars, what you think is a little more? Jimmy, libertarians and bitcoins don't believe in consumer protection laws, man. This has already been established on the show many times. Yeah, that's fine. I'm just saying that this is from the perspective of an exchange or whatever, they're going to have to give it back. I mean, we're not talking about idealized libertarian utopia here. We're talking about what's going on today and what's going to happen with 2X. If you send some money to an exchange and you get replay attack and they have both, well, they're kind of obligated to send it back to you. I mean, maybe it's in their terms and conditions that you don't get yours back for a while or something, but if they don't give it back to you, they're asking for a class action lawsuit. The people that the replay attacks really affect are the actual exchanges and merchants and all those people. They're going to figure their stuff out. It's in their economic interest to do so. People that didn't figure it out, like Coinbase, when Ethereum Classic happened, well, they lost a bunch of money. They've learned their lesson. They're going to make sure that their coins are tainted only for one chain and stuff like that. This is why you will probably be able to buy $1 worth of whichever chain you want to transact on. Go get that UTXO and combine it in your transaction and now you're replay protected. Any descendants of that transaction are replay protected. It's not a hard problem. It's something that you can do. I don't think it's as big as DL as everyone makes it out to be. People will be careful. That's really my take on it. All right. I'd just like to ask everyone to give us a thumbs up and a share so that more people will watch this video. And if you see first time here, please subscribe down below. Tom Vase, will their technical attack be successful? Well, I'm not really qualified to speak about the technical attack, but I will say that as far as SPV wallets are concerned, like I'm not 100% sure yet where I'm going to be holding my coins when the hard for comes. I will be going away on my travels as of tomorrow and I'll be back on the 10th. So I really hope that this fork does not happen before the 10th because I'm going to need time to figure out what I'm doing. Right now I am leaving scheduled for November 15th. Yeah, but scheduled. So it's a block height issue. I think Jimmy and has to meet a certain block height. Yeah, but the other fork, the B-goal fork came like three days early. So I wasn't prepared. I bunch of my transactions got stuck in the mempool. I was too cheap to pay transaction fee. So I missed it by like two blocks. I was actually kind of pissed about that, but not that it matters. I'm probably not going to be caching those out. I'm so confused on how to help to cash those out. It's not as clear as it was with the B-cash people. Yeah, I mean, you're not going to know until like early November. Nobody knows. But here's the thing, right? Like literally we have commentators that are watching us live telling us that they've cashed their Zout already. So I have only if you held it at an exchange that split them for you. That's not what the comments said. The comments said they went to like the B-goal.org and they were able to split them. So I don't know if you can do that. They're not going to stop that. There's not a lot of change yet. The exchange would give you your B-goal then you could sell it. And then later on they're going to sell your B-goal if it is not available. Right. That's how I figured, which is kind of, which is kind of messed up because it gives people that are idiots in advantage because they're storing all that Bitcoin on an exchange. And like basically, anyway, we're not going to talk about B-goal here. But like no one knows what they're doing. Everyone, like there's like 20 people in this whole space that understand what the hell they're doing. And like 19 of them are in core, right? So this is why the, the other one is probably jibby who's not going to be in core, right? This is, this is why I'm not really scared of this hard fork. Now I will say as far as SPV wilds are concerned, I mean, I've always been a huge fan of airbits, but I have absolutely no clue where airbits stands on this debate. And airbits still hasn't gotten segred addresses. So I'm, there's no way I'm going to have my Bitcoin on airbits when it comes to the next fork. I'll be moving everything over to green address, not everything. I mean, I, I'm not sure. I got to look if, if hardware wallets is a good place to be storing your coins during this time. But Those are fine. They, they have a segred addresses and though, like just, just to make sure. So I, I mean, as far as like SPV wallets and phone wallets go, the only wallet that I really trust at this point going forward is going to be green address because the core developer is on, it is a core dev. Lauren. I've met him when I was in Italy. I kind of trust that wallet. So that, I mean, if you want to court dev wallet, just use the Bitcoin core wallet. Well, Jimmy, I know that I have a treasure. Do they have to be in segred addresses? What a number of you. I can be any kind of address and you'll, you'll get your coins. I don't want to store Bitcoin on a Windows machine. You don't have to use a Windows machine. You can use a Linux machine. You can use Mac. You can use whatever. I have a Linux game. So I'm kind of stuck on a Windows machine, which is why I'm not, which is why I'm not storing my Bitcoin on a core node. But, uh, But, uh, Libertarians tell me they buy an old laptop and they put Linux on that and they take the hard drive out and then they run the Yeah, I know. I know. And then all the stuff. So, I know, I got to find a time to do all that. But anyway, um, I've never used Linux like, like, look, sometimes the best security is the security you're familiar with and not try to fuck around installing an operating system that you then accidentally delete because you don't know how to use the operating system, right? So, um, Or if you try to do a boot your computer and you don't know what you're doing, sometimes Windows installs over the next. I think this, this kind of brings up something that I've noticed, which is that everyone is absolutely terrified of moving their Bitcoin's and they're being forced to move it again during the time. Yeah. Slow. This should is bad. I honestly think this is the last time this is going to happen. Um, now I, I don't think so. I think there's going to be like 20 more next year. I think that's, We need an auto splitting wallet that could auto split and sell. We just don't have to do this anymore. Yeah. I would love a hardware wallet that can, uh, that can take care of a lot of stuff for you. That's insured so that you don't have to worry about any of this stuff. Um, but yeah, not, not, not, not one that exists yet. But in any case, um, so as far as technicals go, like, there's nobody at, there's nobody there that knows what they're doing. I mean, this should is going to be a disaster. Uh, like I, I, like no one at a B cash knows what they're doing. I mean, they're, they're like not real programmers as far as I'm concerned. Like, I would never trust my money to these people. All you have is Jeff Garzaak lately, all I'm hearing is how Jeff Garzaak is creating another like old coin or an ice. Metrin. No, whatever. Uh, what, what is that? You just like cross atomic swaps. It's like cross atomic swaps the coin. I don't, I don't really read into it, but the chatter I heard. Is it really an app coin? Please tell me, please tell me it's an app coin. Please tell me it's another Ethereum where you have to use his currency in order to buy something where you could like, you can change some other chain or something. Yeah. All right. The, the, the, I mean, again, these things are completely ridiculous and, uh, I, I mean, I don't think this is going to spoof the market. I mean, I'm still, uh, the, the reason why I'm not scared is because Bitcoin price isn't scared. We're still near all time highs. Like it's, uh, I, it's not scaring me. I'll talk about the price probably a little later in the show, but, uh, yeah. So the technical thing, I'm, uh, I'll leave that up to Jimmy, but I'm going to, I want, once I'm back on November 10th back in New York. I mean, I'm going to be tunnel vision into how to protect my Bitcoin because now it's, uh, uh, it's getting serious. It's now, like, before I didn't really care because I didn't have that much Bitcoin, but now, I'm not saying I have a lot of Bitcoin now, but it's, but with the current price, um, I do, I do want to take this a little more seriously than I have in the past. All right. Let's move on to the exit question. What can be done to reduce the effectiveness of Segwit 2x technical attack, Jimmy saw? Well, um, I mean, it just comes down to what happens at every hard work, which is that developers need to go develop stuff. That's, uh, that's really all it comes down to. And this is why I think price will go up because when developers contribute to the ecosystem, that makes the entire ecosystem stronger and more immune to other, uh, similar things that happen in the future. Uh, like developers are going to have to put in stuff like, um, coin control, uh, which will allow you to select specifically which UTXOs that you want to use. Uh, they're going to have to put in something to control lock time, uh, which most of them don't, uh, most wallets don't, but that, that's another way to sort of split your coins. Uh, they're going to probably, uh, SPV wallets are going to have to let you select what kind of nodes, uh, you want us, you want to connect to and, and, you know, like verify that by downloading a particular thing. These are all features that I think are very useful for the entire network to have. It's just that wallets, wallet developers and all these other people haven't had a reason to go and make them. Well, once you make them, that makes Bitcoin stronger. That makes Bitcoin more anti fragile. That should, in theory, at least, uh, or at least the market seems to agree with me, that should make the price go up. That's, that's, that's what I think. And if they make dozens more of these hard forks next year, the wallets would have even more reason to have these features, right, Jimmy? Absolutely. And, uh, and it'll be effective going forward. So I mean, I, I, I know it sucks as wallet developers to have to work on this stuff instead of the more exciting stuff like SegWit and, uh, you know, some of the mass stuff that they're talking about. But I'm telling you guys, immunize against this now. And I call on all the wallet developers to go and make these features available so that users, um, have more control, like just put it in expert mode or something. And then like other people will make like videos that will show them exactly how to split their coins or whatever using these techniques. And, and really, uh, you need to give users that kind of power. And, and this is what's going to be necessary to immunize against these, uh, future things. So, um, I, I know it sucks. I, I've been a wallet developer and I, I talked to many wallet developers and they're like, yeah, I want to work on all this other stuff and, uh, and you know, these hard forks, they're like taking my time away from doing all this other stuff. I know. I get that. And it really sucks because you'd love to put in those features right now. What the network needs is immunization, right? Like, um, it would be nice to pick up new exercising stuff. Right now, you just need to, you know, take some medicine. You know, that's, that's all, all, all you really need. Um, and, and I feel, I feel for them because I've been one, but, you know, like, go with what's needed and you will make the price go up and you will be contributing and you are the heroes of the ecosystem. All right. Tone Vays. Um, well, I kind of have a question with, but I wanted to comment on what Jimmy said. Um, what Jimmy said. And we've been talking about this on the show and forever in that the same people that are, you know, complaining that core and Bitcoin is too slow to give us good features are the same people that are constantly getting in the way with hard forking and, and like, and making all of these developers work on defense instead of creating new features. And it's frustrating to no end. Eric Lombros has been talking about this for years. All right. And what can be done to reduce the effectiveness of Segwit 2X's technical attack? All right. Ooh, that's actually a really good question. Um, honestly, the community just needs to stand up. I mean, they need to stand up. They need to, they need to stop a bar like I, I just like, the other yesterday, I read that article from Mike Belchee from Bitcoin, holy shit. I've been giving Zappo a lot of shit lately. This guy, I, it was the worst article I have ever read. How in the world can anyone use Bitcoin? I look, I, you just go use PayPal like why in the world do you want Bitcoin? If these are the types of people you want, you know, holding on to your Bitcoin, I mean, people just got to realize what Bitcoin is. Uh, just to be fair, Bitcoin, Bitcoin's Mike Belchee is on the 2X side, but Ben Davenport, James and Lop, they also work for Bitcoin and they often have public spats about 2X, uh, even though they work with this company. To be like they're working for a certain government and we have to say you, you have to quit. If you want to have any integrity anymore, you have to quit because I do agree with you that Davenport's fought with Belchee publicly. James and Lop seems very level headed. But like Tone's saying, when you read what Belchee is writing to the mailing list and what his plans are for Segwit to edge with, which we'll talk about more in the future like in this show. It's worrisome. It's worrisome what they're trying to do. Yeah, you got it. Yeah, you just got to leave those companies. Look, I'm sorry, guys. Uh, you, I, I know you, you think you're doing good by, I mean, Charlie League at the hell out of coin base eventually. Um, it just, uh, Bitcoin is up. Uh, I'm sure you guys have money. Uh, don't support. No, but that does not need to work. He's doing it because he believes in the mission of Bitcoin. I disagree with you guys. I don't think these people should leave. I think they should fight for what they believe in. I mean, whatever it is. And I, I think Belchee is doing the right thing if that's what he believes. I think that Davenport's doing the right thing if that's what he believes. I, and, you know, these aren't like two peons there. They, they, the CEO and CTO, but go like they're, they're the two biggest, you know, people at that company. So I mean, I would, I would say, you know, they're like, I, I respect both of them. I know both of them. And I, I don't agree that you should just leave or leave these companies because you think, you know, one person there, like this agrees with you. I think that's the wrong one. One person that's the CEO is writing on mailing list and seems to be planning a large and involved conspiracy to go to an example from recent history. If Secretary of State Colin Powell had resigned before the Iraq war, maybe we wouldn't have gone to war in like a two week process. Maybe it would have slowed it down. Maybe we wouldn't have gone to war. People have to consider this and their actions matter, even if their action is to just stay in a job or not to do anything. It does matter. Jimmy, no, no, no, Jimmy, I look you do make sense. I mean, this is a, this is a rough one. I didn't really mean for, I didn't really mean it like people at those companies should quit. People need to realize what companies they're using. Like, don't use Zappo, don't use Coinbase. Don't support these companies. Like, call them out publicly. Like, what I did on Twitter today, calling out Barry Silver publicly. I like, I really don't, don't care who these people are. I'll probably, I would go for it. If the technical staff of these companies disagree with what they're doing, they need to speak up. They need to quit their jobs. Like Jimmy says they probably have Bitcoin, they're fine. And they need to take action now because if they just sit around and let this happen, they will be in some way responsible. Yeah, no, no, there are some companies where the CEO was more important than the CTO, like Amazon, for example. But in a technology company, the CEO was pretty much the figurehead. The CTO should know what the, should be the guy actually driving the car. It's actually, I mean, regardless of what you guys think about like what employees should do. I think the bigger issue, I think that Tom brought up is what should customers do if you're using Bitcoin. I mean, as far as I can tell, they're, it's, it's not like their policy to follow one chain or the other just yet. I think they're going to support both. So I mean, as far as if you're a customer, that's really all you care about is what, what are, what are my options afterwards? And if they support both, they support both. I think most exchanges and most companies should be supporting both. At a minimum, just so like you get, you have access to both coins. How do you support both without replay protection? I mean, again, this is the question on everybody's mind, including mine, which aren't as technical as some others. I choose not to be technical. I could have been. Yeah, I mean, you absolutely can't, like as a company, you can, you can do manual replay protection. I laid that out in the article, right? You go get some tinted coins or you taint them yourself using, you know, using lock time or whatever. There, there's many ways to do it. But it shouldn't be very hard for an exchange to get, exchange your merchant processor to get them. And once you have it, then, then you can, you can taint everything else. It's very easy. And it's not just the question of replay protection. There's the issue of the name and other issues. But let's move on to the next issue where we'll discuss this more. Issue 2, economic attack. Large bag holders may sell their bitcoins and their altcoins, depressing both markets and boosting the price of Segwit 2x coin. Roger Ver is personally bet at least 250 Bitcoin, $1 million, perhaps even $1,000 Bitcoin or $4 million, trading his real Bitcoin for an equal amount of Segwit 2x coin. Toe Vays does Roger know something we don't know? Will Segwit 2x's economic attack be successful? No. That was a dump back by Roger. I wish. I mean, even if I had 250 Bitcoin, I probably, I was like thinking about that all night. If I had exactly 250 Bitcoin, would have made the bet. Now, obviously, from a financial perspective, it's a no brainer. I would do that bet 100 or 100 times. But do I want to tell the world that I have 250 Bitcoin, right? And do I want to put them in an address, putting myself on the radar? So that's the other thing. Like privately, I probably would have, you know, if I had the option, I should have just like, you know, emailed them and I'm like, hey, I'll put up all of my Bitcoin. But that's the thing. He wouldn't want it privately. He wants it publicly. Public is a very important part of this deal. Right. I would have totally done it privately for every single Satoshi that I own. And I would just double the number of my Bitcoin. I would have absolutely done it. I mean, Peter Todd, I actually asked Peter Todd this question when he was speaking in Prague. I don't know if you were, you weren't in that room, Thomas. And I asked Peter Todd about the seg with 2x. And this is a room of like, you know, you know, a lot of people are new to Bitcoin for the first time. And Peter Todd is in the front of the room and he's like, hey, so if I was to offer a one for one exchange of my Bitcoin for you to X coin, who would do it? And nobody raised their hand, right? And that was a good example. Like, who do you know besides Roger Vier that would do this? Like, this is, this is nuts. I mean, economically, it's not like in a way, the more it's worth the better because I would love to get another 10 or 20% of my Bitcoin. But as we just saw with Be Gold, like right now, there is a tiny, tiny, tiny percentage of Bit Gold, Be Gold, whatever the hell it's called, is out there on exchanges. And it's already being traded at like 3% of the value of a Bitcoin. So why does anybody think that the and and Be Gold is 100 times better than the seg with 2x garbage because we know it's centralized by a bunch of companies. Like you started off the show with, right? So like this is completely insane. Like I know people like Roger Vier think that economic activity drives the value of your coin. But there is absolutely nothing stopping this coin from changing the economic formula. I mean, BKash is about to change its economic formula and how fast the inflation rate is. And once this B2X coin is controlled by one or two developers, controlled by a couple of companies in bed with a couple of miners, there is nothing stopping them from making it a 42 million supply of Bitcoin or more. Like there is absolutely no decentralization rules anymore. It becomes another PayPal. So I mean, yeah, it may have economic activity, but it loses the store of value property. So I would love for this thing to be 20% to cash out, but I don't even think it will be Jimmy's on. Well, so economically speaking, I think there are enough holders on, you know, at least the one side that it's it's going to be fine, right? Like and this is something that I talked about, but economic anti fragility of Bitcoin is based on the holders. And as long as you have a lot of holders, pretty much like it's going to be very, very difficult to cause them to sell or I mean to depress the price too much. Because you have like a basis of people that really believe in it. And there's a lot of people that believe in the one side, right? Like they believe that the original Bitcoin is the real Bitcoin. And this is something that Alex Morcos has has repeatedly, which is that the people on the core side have conviction in their belief. The people on the 2x side are just sort of waiting to see what's going to happen and they they're willing to drop their belief. And the one that's convicted convicted of their belief, they're going to be the ones that win for that reason. And economically, this is absolutely true. If you truly believe in it, you're not going to sell. And if you and there's no there's not going to be any panic. It's interesting that you brought up that bet and it was actually Roger there bet 1000 Bitcoin 250 each to Charlie Lee, Ben Davenport Alex Morcos and Tour de Mester. Ben Davenport as we saw in the last segment is CTO of Bitcoin. So that's his he really believes that it's it's actually going to be a lot better for the one X or core side than the 2x side. And you know, like they're making these bets because you know the futures markets and things like that seem to indicate that it's going to be great for for the one side. And Adam back has been asking just about anybody that will listen. I will trade you to seg with 2x coins for every one 1x coin, you know, like right now, I will do that gladly. And he he's asked everybody there isn't anybody that is willing to take him up on his offer. So if you're a viewer, you believe in seg with 2x and you want to make a bet Adam back. Well, we'll bet with you and you will have a signature from a transaction, at least it's a digital signature from one of the keys that Adam back control. So maybe that'll be worth something something. I don't. But yeah, like that like that's that's one way to get in on this is is is that and yeah, and these things kind of have to be public, right. There's no like if it was private, then one party can kind of back out and not really feel any of the consequences. So it's not necessarily true, right. I mean, you can put them in a multi sig. You can put it in a escrow. Yeah, you can. Yeah, no, no, it's just that by public. I mean, it's like it. I mean, I like I would do this bad. I'm not going to say the number of Bitcoin, but I would totally do the these bets. I just don't want the world to know like what my Bitcoin addresses are or what because how much you know, yeah, I want to great lengths buying all of my Bitcoin and cash. You know, I'm not going to like dox myself with that now is bad enough. I'm already moving on my shit around. And I have to do that to get all the new hard for us. Let's move on to the exit question. What can be done to reduce the effectiveness of seg with 2x's economic attack. Would you both seem to think won't be a problem tone vase. I think the biggest thing we need is clarity from any remote middleman, including SPV wallets. We need complete clarity as to what exchanges plan to do as to what payment processors are going to do wallets are going to do like I'm going to be all over. What do you call them air bits is website and their blog. I want to know what nodes are going to be using right. I think I think the more clarity we have as to the economic players and how they're treating this. The better it'll be and I think if these economic players are forced to make a decision. Here's how you force is if you are not speaking out about if you let's say you're leaning, let's towards the 2x side. You're you're sympathetic to the 2x side and you feel that making that statement publicly. This early in the game will cost you economically that should tell you your idiot. Okay, so if you are if you are remotely interested in the 2x and you're not saying it publicly because it'll hurt you. You're you're a problem you either come out and say it you're in support of it and deal with the economic consequences of your company. Or you shouldn't be running that company and I think the more pressure people start putting on these companies to provide clarity. They will be forced to believe the 2x the the signer. They'll be forced to exit the stupid contract that they signed. Jimmy song. Can you repeat the question. What can be done to reduce the effectiveness of segwit 2x's economic attack. I don't I don't think we need to do anything as long as you have economic holders people that truly believe. On the core side then course not going away and 2x has a chance of going away but I don't think it will I think it'll stay as well. But you don't need to do anything because this this disorder like when you have something like this happen when you have a hard for a cap and what's going to happen is. People are going to want to hold on to it even more right like unless there's even with a big disorder in event the weekends are the ones that shake out the people that are really that really have truly have that conviction they're going to be more. They're convicted in their belief and it's it's going to harden their belief if anything and that will cause them to say I'm never going to sell right I will always stick with this. Whereas before you know when there was a question of debate and it was like sort of an open discussion maybe people were like I don't know maybe this could work or whatever but it's it's coming to ahead it's your sort of forced to decide and you know every behavioral psychology thing that you've you. So when you're forced to make a decision you tend to stick by it right like it's it's psychologically you you tend to get more merry to your decision if you will and I think that's what's going to happen with this you don't need to do anything in fact this is the exact sort of thing to make hold there is want to hold more and that's that's a good thing for the entire ecosystem. This question if Roger has as its rumor 100,000 to 300,000 Bitcoin a K a 500 million to one billion dollars does one million dollars mean anything to them tone base. No it doesn't but you know you chip away at it you chip away at it I mean like the more I mean rich people that got lucky be in rich don't tend to hold on to that money they they tend to get separated from that money so you know you chip away at it every chance you get and if he's separated by a thousand Bitcoin based on stupidity i'm i'm okay with that i'm happy for that. Jimmy song. I mean of course it means something and it's not it's not just a million dollars it's a thousand Bitcoin which is six million dollars almost that's that's a lot of money and you know of course he cares I mean like who even if you're a billionaire you care about millions of dollars right like it's it's still a decent amount of of your stash if you if you're net worth is a hundred thousand dollars and somebody said okay well here's a bet. It's a bet for a thousand dollars which is you know point six percent of your net wealth yeah of course you're going to care I mean it's still six thousand dollars I mean that's that's a lot of money I I there's a reason why you know things are price the way they are like if you are targeting ultra rich people turns out they actually care about price though you know it doesn't matter and you know and a lot of these people that got really rich I found that they they really really like money. There's a reason why Warren Buffett still like drives a car from like 1985 or something like that he loves money that much that he doesn't care to buy another car and a lot of people that have a lot of money are kind of like that and and you know Roger there he's going to feel it right like six million dollars is a lot of money I mean like assuming segwood 2x trades at around 13% you know that that ends up being like five million dollars that's that's a lot of money and. And you know I'm sure he's going to feel it I'm sure he's going to think about it or he'll reinvest it or do something else to make back that money or whatever but yeah I mean to say that he it doesn't matter to him I think that's ridiculous of course it matters to. All right moving on to issue three screen share here we go longest chain most accumulated difficulty according to bit go CEO Mike Bellshe writing to the segwood 2x May like this segwood 2x coin will have 90% of the miners joining them on the new chain by contractual agreement with 90% of the hash power missing the real Bitcoin network could grind to a halt slowing block size and allowing segwood 2x supporters to make the argument that their coin has the most hash and the fastest blocks will the segwood 2x's longest chain attack be successful Jimmy song. I mean I don't know what you mean by like attack in this instance I mean basically what he's saying is he thinks the miners will stay and like lose a lot of money in opportunity cost at least and possibly also in terms of actual physical cost because I mean like depending on how how segwood 2x is valued versus actual Bitcoin or actual Bitcoin core yeah like it may be a lot of money. It may be unprofitable to mine that and are a lot of miners willing to do that I don't know I mean at the very least I think F2 pool and several others I think 90% is a very generous estimate at the very least F2 pool slush and a bunch of others are not going to mine the 2x hard fork and I think they like you know the holders that I talked about in the last segment they're true believers in the core. Core chain and they'll they'll do whatever takes to go do that and and you know they'll be mining very profitably where is everybody else will not if that's the case and you know I mean we talked about bit fury before you know there the Alex Petrov on bit fury basically said you know 2x agreement supposed to end up the one chain if it ends up in 2 chains and I have no obligation to mine on either chain like I can do whatever I want and if that's the case then he's going to go with the chain that's more profit. So I think it's not profitable which at least according to futures markets is Bitcoin core I think Bobby Lee from BTCC I think he'll probably say something pretty similar soon as 2x hard for and there are many others there's there's one pool I forget which that stop signaling for said with 2x stop putting NYA in the coin base today and you know they might they might be thinking of leaving I think 90% is a very very generous estimate but even if it's 90% say we have 10% say Bitcoin core has 10% of the hash rate that means you know instead of 10 minute blocks you have 100 minute blocks. Alright so our 40 minutes big deal and it takes instead of 2 weeks it takes 20 weeks to do the adjustment that we might be in the middle somewhere or whatever big deal. So it takes like 20 weeks like 4 or 5 months to do the adjustment but by then more hash power will be on and you know there will be you know what I mean like worst case scenario is still not that bad I don't I don't see this like this as a very serious attack. And I think the percentages will be closer to like 40 or 50% because we know from Bitcoin cash that about 40% of miners just switch based on whatever is most profitable because they need to make back their costs. We also know that there are sort of two believers that can constitute another 10% so I think the split will be much closer to 50 50 if not much more on the core side than 90 10 said with 2x to Bitcoin core I think that's just an unrealistic estimate. It's not just the matter of the time it's also the matter of if they would get the go ahead time it's also the matter of the media question what they're going to be able to say in the media if Bitcoin core or whatever you want to call it can't adjust their difficulty for 4 months they're going to have 4 months of media time. Gemini trading already said after 48 hours that going to decide who to call Bitcoin if they have 4 months to complain about the block times don't you think it will have an effect to me. No I don't think so I mean I mean again this is at at its heart about what Bitcoin is is it a store of value or is it a medium of exchange. Having long block times is inconvenient for medium of exchange but for store of value it doesn't matter that much and again if you have a lot of holders a lot of people that believe in it which I think Bitcoin core does then it doesn't matter you can have 100 minute blocks that's okay. And the economics are entirely in the favor of core in that instance because you have a much more profitable coin to mine and if people aren't moving over well then you're an idiot as a pool you're going to lose money and if you lose money long enough you're just going to go bankrupt and other miners. We'll want to jump in and take advantage of that profit opportunity and that's that's huge right like you're going to have all these like like let's say 90% stay on seg with 2x that will be the best thing for the mining industry possible because there are going to be so many mining companies that are starting up that will want to get into this space because all these people are losing money and they have this juicy juicy target that they can go after as a result. I mean you would be absolutely an idiot like as a business person to do that for that long so I can't it's a cartel be like you're assuming cartel behavior with 90% staying on one side and cartels are not economically stable if one person breaks the damn breaks and as long as the economics are in that one side I mean it's just going to the mining hash power will I mean it might take a while. But it will reflect exactly what the price is and that's that's that's just the reality of you know capitalism and economics in general. Not just for reference how much was burned supporting B cash I think it was least $100 million in opportunity cost additionally to unknown miners continue to provide most of the hash the board how much was in B cash. I'm not sure and I haven't bothered to calculate it but I wouldn't be surprised if it was that much an opportunity cost. But you know I mean like it's it gets very different though once it gets to be unprofitable so say it's 90 10 and you know segway to x coin is worth like 7% of Bitcoin and you know they start losing some serious money there. Then it gets you know like you start not being able to pay for your electricity and stuff and you start being forced to mind the other coin because that's your only other source of income like that that gets very crazy from sort of a game theory scenario I really need to write a game theory article on this at some point but yeah I mean that's that that's they might also have significant savings due to all coin investments and I see all investments and holding large amounts of Bitcoin we don't know how. They would be able to survive in a siege type situation yeah and and this is why wars are expensive I don't think this award that that last very long because again this is cartel like behavior you you're keeping a giant alliance together to do the siege and if any one of them leave then you open up a supply line to the castle whatever and this this is not it's it's not easy to do there's already a couple of supply of money. I think it's not easy to do a couple of supply lines as long as there are some miners it's going to survive and I I can't economically it does not make sense to do it over the long term in my just to try to see what would happen for a month I don't I don't see it lasting any longer than that tone. As first of all that 90% miners comment I mean I was I was talking about how ridiculous that comment was you know weeks ago months ago that that that's not happening Jimmy explained it well I'm not going to repeat what he said I will say the one thing that bothers me a lot is a lot of these people Roger viewer included and definitely very silvered like a lot of these guys they got their hands into so many shit coins that the destroying Bitcoin is the best thing for their financial success and that's the kind of part that bothers me and earlier today like I again I sent out a tweet I'll probably show it during my story of the week is that I don't understand how very sober it hasn't yet arrested by the SEC for everything he's been doing between pumping what do you call it between pumping classic a theory classic after buying it exactly trying to create an Ethereum ETF to reach off the Ethereum name you know creating Z cash and profiting from the mining of Z cash and now pumping it into a trust that then will he'll create another pink sheet ETF where he gets to profit from it from all angles right like I don't understand how all of that isn't a financial conflict of interest and insider trading like I just don't understand how that isn't that but anyway it sounds like the wolf of Wall Street it's got the story gone right and I but anyway I'm not here to like police the space I'm just here to point out the hypocrisy of all these people saying how free it is meanwhile the shit that's under the hood is worse than anything on Wall Street that I've ever seen personally or most of the stuff that I've heard but in any case one more thing I forgot to mention guys please download the latest Bitcoin core node run it the Bitcoin core developers will continue to try and block the garbage to extractions so the more of those nodes are on the system the more it will show the miners that they will have nowhere to move their coins if 80% of the nodes are running core version is you know 15 point something point 0.15 something right then the miners will get the hint that they're mining shit that isn't movable okay and to be honest with you it was the the user activated software were scarier we were prepared for 5% minor support and we were still going to do it okay so I don't call them saying that they have 90% support I'm like you know what I asked the ones that supported user activated software were ready for a 95% minor non-compliance and we were ready for that so if they think they can get 90% which they won't fine we'll deal with it. Let's move on to the exit question what can be done to reduce the effectiveness of segwit 2x's longers chain attack Jimmy's on why I don't think it's an attack I want to just comment quickly on what tone set regarding Bitcoin nodes honestly I don't think the number of nodes matters because that's easily civil attackable you can spin up as many nodes of either side as much as you want so I don't think that matters or it matters the little no Jimmy Jimmy it matters because we haven't really seen I mean I I most people in Bitcoin did you honestly think that the majority of the Bitcoin core segwit nodes like the X1 segwit nodes do you honestly think people are faking those that doesn't matter but it doesn't matter it doesn't matter if a million people spend those up it's not it's not going to change anyone's mind I mean like the reason why you run a full node is so you can have your own privacy and you can you can you don't have to depend on somebody else I agree I I I don't it's not to send the message my message to the miners or whatever because that they're not going to receive it it's it's not a message that that they find to be valid it's not a message that most people find to be valid whatever number of nodes there are it's it's just a number of nodes there are I I don't think it's necessarily I got I got a disagree I got a disagree when when people were watching how many people were putting up their nodes and even putting not not even a core node like core wasn't even supporting the user activated soft work and people still one out and build and and put these nodes online with potentially not approved core software to support the user activated soft fork I think that sent a huge message to the miners that ended up having them safe face by doing this dumb to ex agreement like I think it makes a difference I really I don't think so I think they they saw that from other places that the message they got was from you know the the people that were planning it and and the software that was actually developed not not by the number of nodes that's it let's get back to the question what was the question Thomas I'm trying to remember I want to reduce the effectiveness of the longest chain attack I wouldn't characterize it as an attack that's just what a heart fork is and and one chain is going to be longer than the other I guess or have more accumulated difficulty if exchanges choose to do that that's entirely their right the thing is there are economic consequences to that if you if you say the longest accumulated one is Bitcoin and that's what we're going to trade it at well then people might not trade on your thing right like there there are social consequences to doing whatever and and as much influence as Gemini might have if they go with segwood 2x as Bitcoin quote unquote even though it's trading at like $400 versus you know the one leg and they labeled the other one legacy or something like that even though it's trading at $5900 or whatever I that that's that's just going to look really dumb first of all and second it's going to be obvious to anyone that trades there okay which one is the real one the price is going to tell you anything that you want to know and and it's not really an attack per se it's just idiotic marketing from one from a company and if they that's the way they want to go let them make their mistakes it's fine I like companies from themselves let's not get too far ahead of ourselves here I just like to thank everyone for watching and giving us a thumbs up in a share we have 873 live viewers we're moving on to issue four issue four deceptive wait wait wait I didn't answer that I didn't answer that I just I mean I had I had I had just a quick thought it was um I actually I already kind of lost it but never mind well are we'll come back to the later issue four deceptive attack following on the presumed success of segwit 2x's longest chain attack segwit 2x supporters such as coin base zapo and jemenai as well as bitcoin.com owned by Roger Vier plan to rename bitcoin to segwit 2x causing complete confusion for new users who are seeking to buy bitcoin but may end up learning about and buying segwit 2x coins furthering the corporations argument that that that their segwit 2x bitcoin will be the real one tone vays will segwit 2x's deceptive attack be successful no I mean Roger already tried that uh Roger already tried naming b cash bitcoin and that failed oh now remember where I was going to say uh Jimmy or Thomas you guys talked about the longest chain that argument is dead I mean if if the longest chain is being said in their blog that the longest chain would be the one it was very surprising but I and I agree that yes technically the argument is only if you're following the same rule set if you're both mining the same coin if I have the longest chain of dogecoin it doesn't mean that I'm suddenly well even b cash right I mean b cash is a long straight right I mean b cash is way ahead of bitcoin so if that's the dumb argument kind of they're ahead of bitcoin but they have less accumulated difficulty because of their emergency difficulty adjustment so they're saying longest and has the most accumulated difficulty um it's a slightly different not have this emergency difficulty adjustment right Jimmy b 2x coin would not absolutely will not and I think it would be a mistake if they did all right so now that's going to be that's going to be interesting right because um what's going to happen uh when they don't get 90% of the miners and they only get 20% of the miners and their coin is in being mined uh they're probably going to get together on hard fork to create a new difficulty proving just like b cash it's a bunch of guys in a room that think they know better all right Jimmy your thoughts on the deceptive attack well um I mean it's just kind of a branding issue um I don't think it's as big a deal as people think um it like these companies don't get to name things I think it's uh you know it's like they own where bitcoin doesn't have any copyrights on its name bitcoin has no company that can sue for it uh they can't take the name hines catch up but they can take the name bitcoin yeah I mean that's the thing nobody owns the word bitcoin and if they try to do it uh they're going to get a lot of pushback from the community and they can't do anything about it either right like if now again the community is the old users the new users won't know anything and they'll just go to google type and bitcoin coin base bitcoin.com comes up they'll be willing and if they're stupid enough to just uh take google search result then they kind of deserve what's coming to them um I mean like you if you're going to invest a lot of money you really should do research on it first instead of just like like believing whole hawk whatever like one website tells you or one commentator tells you as much as I love you guys on this show we should not be the only source of information okay like and same thing for coin base or any of these other places or any news outlet or whatever you should be getting your news uh you know your information about bitcoin from multiple sources and if you're not you're just doing a bad you're just being a bad investor and if you're a bad investor well you're gonna leave you know you're gonna be parted from your money soon enough anyway so I I'm not too worried about saving people from themselves this uh common refrain that I have um and if these companies want to do that I think it will hurt them more than anybody else they can try it um and the they they think they'll succeed and maybe they will I don't know I doubt that they will but that's that's a possibility I guess in their mind uh but you know they they can say okay this this side is bitcoin okay great go for it try it let's see how the market reacts to you because if they think that they're going uh if you label something bitcoin they buy it at three hundred dollars and you give them two x coins maybe they sue right maybe they go and say hey they deceive me uh because you know the common definition of bitcoin everywhere else is this and they said they were selling me bitcoin I thought I was getting a great deal but I didn't and then it went down in price now now on my money back I mean granted they're probably they'll have like huge terms and conditions and all this stuff so that new users if they do buy it they they and then they find out differently later that they can't get sued but you're still going to get a lawsuit and you still are going to have to deal with this stuff so they're it's not free for these companies to be able to do this they're taking some risk legal liability risk in doing it this way um that's it I mean I think the this is something I talked about at uh block con when I did my talk there's a social antifagility to bitcoin there's a community around around bitcoin that sort of keeps the rules as it were and uh and if you try to change the definition of bitcoin from under them you they will fight back and uh and the more you try to do that the more the stronger they're going to be about it and that's the antifragil part the the the name bitcoin will mean what the community says it means not what you say it means and you do that at your own peril companies now Jimmie what if coin based zapo and jemenai do as zapo said they're going to do the b-cash where they would automatically sell their customers b-cash and use it to buy bitcoin what if they automatically sell their customers bitcoin and use it to buy b2x coin well good luck on the legal liability front especially on point and announcement window and the announcement says your bitcoin will automatically be upgraded you have five bitcoin when you're done being upgraded you'll have 50 and the question says yes I want more I want 50 yeah well you know what um if you're so stupid as to believe that that's the case sounds a little bit like one coin then then you're kind of just going to know it's an October it's still October they have time I mean basically um you know it's do do do whatever pleases you as a user but if if you're not doing research if you're just sort of thinking that you're going to get 50 times the number of bitcoin just because of whatever then then you kind of deserve it I'm not going to try to save you from yourself all I can do is tell you the information that's all any of us can do and and if you're deceived by somebody you might have grounds to sue but if you knew everything and and you know you did your research and you still did it then then no one's you're not going to be able to sue anyone because you did it all on your own um but yeah I these companies you know I they're they're taking some risk in doing this and good luck to them right like uh you know if if you want to take that chance that's that's the calculation you've made um but if you if you're if you're you know going against uh what your lawyers are saying then you know I mean you might be doing something wrong I don't know but I mean best of luck right let I'm off with the markets figuring this out and I think there's a social core of bitcoin that's out there right now that will fight back and punch really hard and uh and you know they might take all their coins out of your service they might go to another service that they they perceive to be friendlier to their to their side um and you're you're antagonizing them by doing this so best of luck to you and these these are the people that everyone goes too for advice when they're starting to buy bitcoin right it's like okay um so I heard about this bitcoin what what is it and then you know they're the ones patiently explaining to them how it hard for and how coinbase is saying it's the most accumulated difficulty and but it's really not and all that stuff these are the people that you rely on well you know if they're they're recommending some other service than your own you're you're you're I mean there are consequences and on top of consequences there are second third fourth order effects that you better be counting on are have calculated into your uh you know position um otherwise you you might I mean you might become the my space of exchanges or merchants or whatever so be very careful tread lightly on this stuff I really hope you've thought through it if not sorry buddy um you you might lose a lot of customers you might lose to a competitor that that knows how to do uh you know marketing better that that knows how to please the community social community around bitcoin better uh I want to say an antidote to this libertarian at your own risk what if they click yes to get 50 bitcoins instead of one well that that's that's their problem they need to learn more the Jimmy I would have said more like the birdie made all funds that I'm not running a Ponzi scheme than my space all right let's uh let's move on to the exit question what can be before the exit question I think I want to explain something that Linus Tucker's asked a little bit ago accumulated difficulty is very different from longest chain Jimmy please clarify this yeah so longest chain simply means more blocks but uh if the block doesn't have that much difficulty in it like it does on bitcoin cash um that's that's different than accumulated difficulty so bitcoin actually has more accumulated difficulty than bitcoin cash even if bitcoin cash has a longer chain and that's that's something that you you definitely need to know um that said with segwit 2x because they don't have any sort of emergency difficulty adjustment um if they have majority hash rate then they would probably have more accumulated difficulty uh I would actually love to see a more advanced formula for this uh on top of that factor in you know the economic activity factor in how much bitcoin is being moved how many transactions there are and the accumulated fees uh I would love to see all that in one formula in order to judge what is the what what is the what is actually bitcoin all right and Jimmy song is there anything that can be done to stop the effectiveness of this deceptive attack or you think it should just be allowed to happen I think it should be allowed to happen I believe in the social anti-fragility of bitcoin I think the the community of bitcoin will hit back and hit back really really hard and these companies will feel the might of the bitcoin community and the thing about these things again if you attack it you're you're stirring up a hornet's best like you I don't I don't think they realize how much this is going to hurt um you know when when you stir up a hornet's nest uh you make the nest stronger and uh and that that's what's going to happen with the community around bitcoin the so there's a social anti-fragility here whenever there's a disorder and event like this it just gets stronger and and I don't know if that's exactly what you want here all right tone phase what if users started boycotting for example coin phase what if they start withdrawing all their coins posting screenshots of their deleted accounts would this have an effect on the companies got a mute tone sorry um yeah absolutely it will I mean uh look even I remember when people were using their apple iPhones a target practice when they removed all bitcoin apps this is a lot of our viewers probably don't remember this uh you can google uh back in like 2013 early 2014 when apple removed all bitcoin wallets from the apples from the apple store and people were literally like like destroying their iPhones and it was public and those videos got a lot of views and they got you know airtime uh these things matter these things matter I mean a lot of these companies they they do have investors and these investors do have public pressure on them as well like what do you mean your how are you not uh you know your customer base is like speaking out and making huge waves about you uh no of course these things matter and while you guys have not convinced me you put up good arguments and hopefully I'm less worried about the fork however I do believe we should prepare for the worst possible scenario we should do everything we can so that if they do succeed on all of these various levels that we have a response we we can't just sit by and be reactive we have to play ahead of them we have to think down this line but we're running out of time so let's go to tone for a story of the week go ahead tone all right so my story of the week and um I guess I'll do a screen share application oh wait I should probably open that up shoot uh give me one second here ah there we go oh wait I have to go application there we go all right so no so my story of the week is basically what I saw today uh that uh GVTC uh and uh not GVTC sorry very sober uh has filed for a zcash investment trust which I think is completely ridiculous because as you can see from the screenshot that I tweeted out um GVTC is one of the investors in zcash and it says it very clearly on on their site that zcash is skimming 20% of all mining rewards and just paying that to investors okay so now to me this is a huge conflict of interest and I don't understand how this isn't uh you know financial conflict of interest nor insider trading in a way in order to you know pump this scam coin in my opinion into the public domain of a trust that then will probably end up as a pink sheet uh being traded by anyone with uh with a brokerage account the way he currently has GVTC um so that's pretty much it and everyone is asking me uh in order you know to talk about price a little bit um I'm just gonna go real quick because I do have to run and uh the weekly is still you know bullish uh I'm still looking for up to six more weeks of upside uh the daily uh ran into a little bit of a problem the last few hours I did go live just yesterday when we were back to crossing 6000 um I mean I'm not really sure what's going on I've been busy with traditional markets but I'm not worried yet I mean it's uh to me this cannot possibly be the all-time high I've generally been right about these things it could be wrong but um let's see how the week finishes so far the daily is has not shown you a buy signal yet but I'm still sticking with the bullish side uh so we did have one of my nines on the four hour leading to a one to four candle correction and then probably higher so this is where you reevaluate if the next candle is lower than uh then that's it then this is becomes a downtrend and the hourly is rebounding right now so it's very possible that as of right now we're gonna trade back to the upside uh but look there is as this episode has shown uh so I'm gonna draw this arrow I'm gonna draw this arrow so that nine on the hourly is helping me say hey this is a tradable bounce uh two new highs and I am looking for new highs from here now the environment is very scary but it's no scarier than it was you know seven eight months ago when we were at thirteen hundred dollars thinking that you know a Bitcoin is never gonna scale um so I'm still bullish here uh but in general we've gone up a lot and some time later this year there should be a more sustained sell-off uh if you were if you profited from Bitcoin trading from one to two thousand all the way to now this is the time you look for an exit and then reevaluate your situation maybe buy back in above seven thousand uh otherwise like I wouldn't suggest going all in right here uh but I don't think we topped for the year I think there is another top but it percentage wise it's not gonna be all that significant I think we're gonna be topping in my six thousand to seventy five hundred dollar range where technically in my range I just will close at the top of that range at the bottom all right thanks to him and uh Jimmy's story of the week well um I am going to scaling Bitcoin with tone next week um I'm also going to teach at dev plus plus I am also going to teach at my seminar programming blockchain um I did mention this story last week but I want to repeat it uh there's an alternate conference called dev con three in cancun with a bunch of ethereum devs and stuff like that um it does look like kind of an iCO fest and I just want to contrast the two because you know scaling Bitcoin there's a lot of academic papers on you know all the interesting ways in which uh Bitcoin uh you know like they've done research on Bitcoin they here's what the future of scaling Bitcoin will look like etc etc um whereas you know the other one's gonna be here's my iCO here's my iCO here's my other iCO and here's my you know super interesting new different iCO that's exactly the same um so yeah I I I I would like to contrast that I I think you guys know what's going to be the more interesting thing going forward and uh what what's actually adding value to the ecosystem and not taking it away uh anyway if you guys are in um the bay area uh I I encourage you to check it out um also I'm I'm just going to throw this out there I have a friend that has a 25 Bitcoin Caescious piece um that he's looking to sell um if you are interested let me know that's it all right thanks to me and uh thanks to everybody for watching we have 912 live viewers and uh yes it's fine if you want to say I presented a worst possible case here I still am convinced that we should prepare for this worst possible case so that in case it does happen we are prepared uh I'm going to keep talking about it pretty much every day until the hard fork if as Jimmy and tone have said are correct if they only get 20% of the miners are 40% of the miners less than 90 if the deception doesn't work if the media says hey there's some confusion still they don't just buy this longage hash most users most exchanges argument which I find to be a very convincing argument that they've crafted uh I'll be happy I will be happy that Bitcoin doesn't crash and doesn't get all messed up and we don't split into a corporate controlled Bitcoin I like the current Bitcoin core with the mailing list and the bips and everything but I believe we should fight for it I think we should be prepared to fight for it and I'm going to have more on this in the next few days thanks to everybody for watching if you'd like to donate we have a Bitcoin address here I know it's not a segway to address I need to upgrade my addresses and my graphics and all these things but hopefully I'm going to have some time here I have a kind of stop-tory I'm still in Europe but I'm in Amsterdam where I've been before so I don't really feel the need to tour as hard as I do when I go to a new place and I'm super excited but there is cool stuff here still that I want to see and I'm having a great time in Amsterdam and I'm going to be talking about this much much more but until next time bye bye I believe Bitcoin is a great thing and we're fighting for especially the second part