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, Gabriel D. Vine from Future Rant. Hello, Internet. Hello, Posterity. Jeffrey Jones from the Bitcoin News Show. Hey, guys and gals. Thanks for joining us. I'm Thomas Hunt from the World Crypto Network, moving on to issue one, issue one, mast tree chains. Is the future of Bitcoin flexibility, scalability and privacy now here? The new proposal from Peter Woolly, Russell O'Connell and Peter Todd has been drafted into a bit by Bitcoin core developer Johnson Lau. Most tree chains are here. Mass stands for Mircolized Abstract Syntax Trees. What it means is you could lock up your Bitcoin with a script, but instead of using a standard script, you could use a tree script. You could put your key in there as well as some other keys, allowing your Bitcoin to be unlocked in days later or even months later. You can have any kind of transaction you want hidden in the tree, and you can only find the transaction if you know about it. Gabriel D. Vaughn, our mast tree chains, the future of Bitcoin. Do we have a solution beyond lightning? Is this new technology going to do it? Actually my name is Greg Maxwell and I was consulted on the mast spec, so I can speak about it in great detail. Actually, I read the mast roundup by David Harding about three months ago, four months ago, and I am totally not up to date on this bit of a last minute show. I think yes, it sounds really useful. I'm looking at an article on Bitcoin Tech Talk right here and it mentions that it makes transactions smaller. It adds a lot of privacy, which is great, especially for scripts for multi-signature transactions and different types of smart contracts on Bitcoin. Of course, larger smart contracts in addition, because it keeps the size so small. Those are written before the bit, so I guess they settled on the activation methods and all the different. They found the best balance of trade-offs in order to get this technology off the ground. I really wish I had had another few minutes to review some of this technology. Basically, what we're talking about is adding extra power, it's like a turbo boost for the transaction flexibility on Bitcoin. Just adding a few things that can't be done now and adding a lot of capacity for complexity, which is really bullish. By the way, I'm assuming vortex is going up next. I've been thinking about this all week, it has to get to it. If either of you knows the answer or if somebody in the chat knows the answer, tell me now, can you do a smart contract over lightning? We'll have to see what the chat says about that, but I'm very excited about the mass tree chains. Instead of sending a single transaction, you could send what seems like a whole cloud or a clump of transactions altogether. Some of it goes to Alice, some of it goes to Bob, some of it today, some of it in two weeks. Alice and Bob can check on their individual keys in the cloud, but only if they have the key. The other keys could be there and you'd never know it. It's a really neat idea and it's the kind of thing that we talk about when we say, why do we like Bitcoin over Altcoin of the week or Altcoin of the month? It's because Bitcoin has these kinds of people working on these kinds of ideas. Nobody else has this. Jeffrey Jones? Yeah, this is some pretty advanced technology. And again, this is kind of the stuff that Bitcoin developers or people that work on Bitcoin really strive for, which is this absolute commitment to decentralization via this, via not having any trust, right? This absolute commitment to remove is much trust as possible. And this is why this type of technology takes so long, compared to other types of technologies. For example, like the Ethereum network and their tools, a lot more advanced, a lot more, you know, basically, you could say they're a lot more mature. There we go, a lot more mature by a couple of years, right, than a lot of the Bitcoin tools and things like that. But, you know, that's because that they kind of cut corners, right? They cut corners where with Bitcoin, you know, actual Bitcoin developers refuse to cut those corners. We will not give on decentralization or censorship resistance. And so these types of technologies like mass allows for truly decentralized smart contracts, right? Not just smart contracts that run over the EVM, but actual smart contracts powered and backed by the security and the huge, huge history of Bitcoin. And so this is this is this is some important type of stuff, right? This is so can you have lightning transactions or smart contracts over lightning, of course, because lightning, right, is just another on chain transaction. And so with that, you can combine it with all sorts of different things, especially for example, with this what we'll be talking about this weekend on the Bitcoin Newshow with this new IDE called IV, which is actually specifically designed to write smart contracts with Bitcoin over the Bitcoin network. So very, very interesting stuff. Definitely encourage guys to check that out. But yeah, this, this, you know, this mask, right? Merkleized abstract syntax trees, right? It's not exactly super simple types of technologies. It doesn't sound sexy. It doesn't sound cool, right? You can't like put up a big huge poster outside of a big Ethereum conference that says mass or Bitcoin conference that says mass and get expect people to get excited about it, right? So this is, this is long term thinking. This is tech that's going to really help Bitcoin improve on, and this is tech that's going that's meant and designed to last. So again, this is, this is really important technology. This will allow for more complex smart contracts in addition to actually optimizing certain types of transactions, certain types of information in these transactions. So it's an optimization in addition to adding more features. And this is, this is the type of things we like to do with Bitcoin, we like to kill more, as many birds with one stone as possible, right? That's the type of stuff that really gets, gets engineers excited. And so I'm really excited to see what's going to happen, you know, in addition to this type of stuff, we of course have RSK that just recently launched to do, again, more smart contracts over Bitcoin. So I think that smart contracts is absolutely going to be huge. By tweeting this out, you know, that I believe that in 2018, we're going to see all sorts of developers creating more advance and more in general, more smart contracts over Bitcoin, more technologies utilizing more, more applications using, utilizing more of this technology. And so I'm really, really excited about it. I'm seeing in the chat, definitely people saying yes to smart contracts over lightning. Christopher Galear, for example, says that you can do anything over lightning network, anything you can do on Bitcoin can be done. So I mean, if you, he says there's a post by Joseph Poon, but I don't see a link that he's talking about. So Christopher, kick me down the link. I don't know if you can post it in, but whatever. You know, obviously you can use mine scripts in your transaction that were you opening a channel. But normally the Bitcoin clients are going to trigger, for example, check out time verify, right? There's a time and then there's the time is up at a certain point after the transaction hit the block chain, say whatever, two weeks later, you're like, oh yeah, this transaction, you know, script matured. So we're going to do this stuff and that will happen automatically this next block. Or it'll get released now that, you know, since there's no blocks, the lightning network doesn't hit the, you know, the blockchain. How does, how does the, how does the scripts actually function without being able to utilize blocks over lightning network vortex or Jeffrey is a case movie. So what was the actual question? I'm trying to pay attention to the chat. A lot of us run scripts over the lightning network, but there are no blocks. So how do the scripts know to run? Thank you, Tom. Yeah, I mean, I can tell you that lightning right is an addition on top of on top of Bitcoin, right? So it's Bitcoin plus a little bit extra, right? Plus the lightning protocol. So it should just be traditional scripts that you can run that will be compatible with with the lightning nodes and with the lightning protocol. So you know, lightning is trying to be the TCP IP over Bitcoin's Ethernet, right? So in theory, it should just work the same, only be able to use time-locks transactions or these, these actual, these transactions that close and open lightning channels. And Christopher followed up by saying Google, two of three instant escrow lightning networks. That's pretty cool. So that's a multi-signature paradigm over lightning that is awesome. That is very powerful. So I'm assuming that anything that doesn't directly depend on something getting into a block is possible over lightning is essentially what I'm getting here, which sounds like most of the Bitcoin scripts actually. Yeah, I mean, lightning, once you put your Bitcoin in lightning, it frees your Bitcoin, right? You can do anything the Bitcoin can do only instantly. And that is just amazingly powerful for the network. It's going to, it's going to provide huge, huge utility. All right, moving on to the exit question as the altcoins struggle to catch up with Bitcoin, which one will copy, mast and add it to their schedule? Ripple, B cash or Litecoin? Gabriel, D.Van. I've actually already seen some rumblings about Litecoin. So in any ways, B cash doesn't have any developers. And Ripple isn't a blockchain or cryptocurrency. So definitely like, Jeffrey Jones. What was the question? What was the question? Which altcoin will add mast, ripple, B cash or Litecoin? Yeah, there's actually a link. I wish we'll have to put in a show notes Thomas. I'll get it for you where you can actually, there's a website that shows all of the different coins that are lightning ready. And I'll have to send that over to the audience. But it's going to be everybody. Everybody's going to be able, anybody, any coin that supports Segwit is going to support mast. It looks like it was a good idea to sign up for Segwit. I don't know what's going to happen to that B cash thing that doesn't have Segwit. Just like to ask everyone to give us a thumbs up and a share that will help more people find the show. If it's your first time here, please subscribe down below. Moving on to issue two coin base and Segwit. The petition asking coin base to prioritize Segwit on their Bitcoin wallet and GDAC's exchange has almost reached 10,000 signatures currently at 9,813. Additionally, on Twitter, it's now been shown that when coin bases sends go offline, the amount of transaction in the Bitcoin network go down significantly. This means that coin bases not batching their transactions or sending them together to spare the network and that they're also not using segregated witness, which would allow their transactions to go through smoothly and with less fees. The internet got very upset at coin base over this, leading Brian Armstrong to say today that coin bases working on batching transactions, Segwit, and a number of other strategies to help them improve transaction backlog. Thanks for bearing with us. Jeffrey Jones, the question goes to you, which will happen first? Will coin base adopt Segwit and batching or will they add ripple to their exchange? Well, damn, that's pretty much anybody's guess with the history and track record that coin base has provided us thus far. It's anybody's guess at this point. Obviously, we hope and we plea that Coinbase please implement both Segwit and this transaction batching. That screenshot showed it all. When Coinbase went offline, for a little while, you can see that the fees started to go down and go down as soon as they went back. As soon as Coinbase activated their software again, activated the website again and everything, right back up, fees go right back up there it is. So you guys can see, it just goes right back up. This is some pretty clear evidence of how horrible Coinbase is actually handling this. Again, we've talked about Coinbase's technology choices and their shortcomings in the past. But at this point, they really need to get this going. We have a signature, a petition of almost 10,000 signatures for Brian to please implement Segwit. Now, we actually have a tweet from him this morning that actually says that they're currently working on both Segwit and implementing these batching of these transactions. Because right now, they actually are a huge part of the network. It's clearly shown that if they're not careful, they're going to completely just bring down the network. This is what they're doing. We're seeing the fees that they're actually pushing on the network due to their incompetence. This is really important. The community is demanding that they please implement Segwit and please batch their transactions. Otherwise, it's just going to be worse and worse for the users. That they claim to have their best interest at heart, right? And don't forget the goose that laid gold and eggs. You don't kill the goose. You just get the eggs. Gabriel D. Vaughan will Coinbase make the right decision and prioritize sending transactions. Their basic function over the dreams of riches from selling ripple. I'm going to say no. I mean, despite this tweet, I believe him that they're working on it with some small minority of their development team. It makes me really wonder what Charlie Lee was up to there. Maybe he was constantly butting heads with the executive team on doing things that were actually good for the networks that Coinbase ostensibly makes its business model on. But in general, we're seeing a very consistent trend from Coinbase and a few other players in the ecosystem like BitPay, where they are pretty clearly, in my opinion, working to bring down the network, working to stop Bitcoin from succeeding, working basically their spam actors. That I would call them nuisance corporations in the Bitcoin ecosystem. They have their own priorities and agenda, which run 180 degrees counter to the customer base, to the user base of Bitcoin. Bitcoin is a decentralized ecosystem. These are centralized corporations. I don't have a problem with centralized corporations. But if I'm a member of a decentralized ecosystem, and they're trying to participate in them, and essentially they are attackers on the Bitcoin ecosystem. What we do with attackers in Bitcoin is build up our bulwarks, our defenses, and also route around them. I encourage all of the listeners to treat Coinbase, BitPay, and any other attacking corporations as bad actors as what you might call enemies of the Bitcoin ecosystem that are trying to harm and take down this wonderful technology and community that has grown up around these inventions, this invention of Bitcoin. We seem to have lost Gabriel's mic. Stop using them. Don't give them any attention. Don't give them any publicity. Ignore them. Encourage everyone you know to stop using them, stop recommending them. Until they change their ways, they are to be considered attackers. I haven't seen them doubling down and giving lip service. I've not seen any actions, only actions against the Bitcoin ecosystem. I think that I talked about it on Sunday with Vortex on the Bitcoin News Show. Check out the last segment on what was it called. I believe it was on Silicon Valley and the disconnect between the priorities of Silicon Valley and Bitcoin, and this is exactly that same issue where the relationship is fraught, because they thought this is going to be this fun toy thing that they were going to own, like they came in and owned other technologies. Instead, Bitcoin is very resistant to ownership and in fact demands that you submit or else you lose your standing. That's what we're seeing. I'm really glad to see that people are reacting and up in arms and Armstrong has been forced to answer. I don't think that it's a priority for them because if they want to shut people into a currency that they control and can manipulate more easily, such as B Cash or Ethereum, which is a very corporate and government-friendly partially centralized crypto, it's not in their interest that people stay in a decentralized ecosystem. They're going to just hold off as long as they can until they start losing users in droves and then they'll probably pop it in just out of necessity. Let's hasten that and just maybe completely opt out of their platforms. That's what I recommend. We can also tell what Coinbase believes because of their choices. They haven't really promoted hardware wallets. They haven't gone to their customer and say, hey, you have more than $10,000 in our website. We're going to send you a free $100 hardware wallet. We hope you'll use it. We don't really want to host more than $10,000 of your dollars. We don't want that risk. We want Bitcoin to be decentralized, but instead they say, no, we have a vault system now. Your $10,000 is safe. Forget about all those other $10,000 that we just let people run off with. We're going to keep yours. Jeffrey Jones, more on Coinbase? Yeah, I just wanted to finally just wrap this up with saying that Coinbase really has proven themselves to no longer be a Bitcoin company. At this point, they really are just a blockchain company chasing whatever is flavor of the week, whether that's crypto-kitties, Ethereum, or whatever it is. They're just no longer a Bitcoin company. That's important to understand because, again, like you said, they've taken almost every action that you could possibly think of that goes against the community instead of for the community. At this point, they really need to do these things, implement SegWit, batch their transactions, and prove to the community and to the world that they're still a viable company. Moving on to the exit question, predict the future, which will happen first. Coinbase adopts SegWit and batching, or Jack Dorsey and his rival, Square Cash, releases their app, allowing anyone to buy Bitcoin without Coinbase. Gabriel, D-Von. Square, first. Jeffrey Jones. Yep, Square. Everyone is agreeing. Businesses for Square, no one ever picks Coinbase in these things. It must feel bad. I feel bad for them. Moving on to issue three. Bitcoin price plunges on South Korea. Cryptocurrency, crackdown. Once again, when the media doesn't like regulation, they call it a crackdown. When they do like regulation, they call it regulation. Once again, South Korea is going to regulate Bitcoin, which, as we know, from Japan, turned out well, as we know from India is still a little muddy, and as we know from China, just seems to get worse all the time. Unfortunately for the mainstream media and their love of burying Bitcoin, in an official announcement, the South Korean government reaffirms that there will be no trading ban for cryptocurrency, and that nothing is finalized. In fact, a petition to fire the head of the Ministry of Justice over the cryptocurrency trading fiasco has been filed. It looks like this was more fun from South Korea. They had a burgeoning market. Everything was pumping and growing. What do you need on top of that? A little fun, and somebody with a whole bunch of shorts. Jeffrey Jones did South Korea take down Bitcoin? Is this the end of Bitcoin? No. No, this is just what happens when a bunch of people come crying to the government, right? There's going to, they're going to bring in the regulation. That's pretty much what happened. I mean, the bit thumb exchange and a couple other exchanges were just behaving pretty shady. I mean, just super shady, like completely shutting down their exchange at the heights of B cash's pump and things like that. Just losing investors millions and millions of dollars. Naturally, of course, if you people complained, and so then that brought in investigations, of course. Again, these investigations began as early as last December, beginning of last December. This has been planned for a while now. This is not a surprise to anybody in South Korea that this is finally happening. Again, there's been no official ban. They've now actually said that they've kind of in a way said that Bitcoin was too big to fail because they said that they don't want, they said that they really don't want to ban it because there's so many hundreds of thousands of investors. There's so many hundreds of thousands of people that are into this cryptocurrency thing now, creating jobs and creating value. It's just really important. It's just kind of a crazy thing to think about that Bitcoin is now too big to fail in some countries. That's pretty awesome. I think that trend is going to continue and just completely go exponential across the planet. As more and more people find the utility that Bitcoin and these cryptocurrencies can provide for them. Again, nothing new. This is to be expected. Same thing happened in China, same thing happened in the US. Same thing will happen anywhere where Bitcoin gets to be too popular. The government's going to step in and try to either control it or to maintain, to kind of cap it a little bit. Even those efforts will eventually cave to the huge wall of interest, wall of money and just huge amount of millions and millions of not billions of people that really are going to want to take advantage of this technology in the next few years. Gabriel, divine. Will we see more regulations or a crackdown? I actually wanted to correct you on what you said there is almost right. The media using these terms, it's not when they don't like it and don't like it. It's when they want to scare you or make you feel protected. Those are the opposites there. Crackdown means you should be scared and these things and the thing is probably bad. And regulation is these things are really good and we're going to protect you. This is just classic fud and it's, in my opinion, just pure market manipulation. To this day, small enough and the markets are still illiquid enough where these type of completely fake news events can move the price and make people a lot of money on their positions. So media open the short and push out the news at will, especially between Western East where there's translation issues and slowness and people don't know what to trust and they like to go. As usual, completely fake. We've seen a lot of instances of fake news as you pointed out, as Jeffer pointed out, especially out of China, but also Japan, Korea very commonly and other places as well. So Russia, anyway, the more foreign it is to the west, the easier it is to pull off the fud. So I think we're just going to keep seeing this and then as Jeffer also pointed out, we're going to, it'll sort of phase out as the market cap gets so big that the people just won't believe it and it won't be possible to move the markets like this anymore. It won't have an appreciable effect at all. Even this time, it wasn't all that big compared to the last time. So it's going down, but it's still pretty sizable what you can do to a market like this. Well, there's still that Princess Bridegiff going around where he's become immune to China fud. And I feel a lot like that a lot of these times, the markets keep getting closed, they keep getting open, but in the long run, it's always good for Bitcoin. In the long run, the government's always have to say, like South Korea said, Bitcoin's too big to fail. We'd try to ban it, but we'd fail. And they know that now. So let's move on to the exit question. Is there a good country for Bitcoin? Is there a country where you think things are going right for Bitcoin? An example we can look to, Jeffrey Jones. I mean, everybody's kind of doing some things right and everybody's kind of doing some things wrong at this point. I mean, obviously the countries with the most the spirit in the financial system, the most rectified currencies, they're going to those type of governments are the ones that's going to crack down on Bitcoin the hardest and basically the soonest. But for example, the US, it's still trying to struggle with what Bitcoin is. They think it's a different thing, a commodity, a currency and so on and so forth. Europe is actually doing a pretty decent job in my opinion a little bit better than the US right now. But we've got a ways to go. It's early days. It's going to take some few years to really hash all this out. But I am absolutely optimistic. Everything seems to be going in a trend in a very positive trend. Though it's an uphill battle, we are making progress. Gabriel, Devon, do you have a country that's good for Bitcoin? Boy, you know, what is exact, can you give me the exact phrasing that you use in the question once again? So I can be careful to answer it. We're looking for a country that's good for Bitcoin, something where things are going right. Adoption is going up. They're making good laws. I'm going to focus in on good for Bitcoin and say Venezuela. The Venezuelan economy has been in free fall for several years. Hyperinflation pushes the everyday populace into alternative currencies. And we're seeing widespread adoption and mining and usage as a currency every day in addition to as a store of value, of course, not to mention the rise of mining, you know, where people are secretly mining and stealing electricity from the government. And then we're also seeing government operations, black ops, and as well as talks of, you know, actual mining farms opening under government creation. So where Bitcoin is just completely taking over and penetrating the society and the economy of an entire country, where Bitcoin has become the bribe. You know, money, a par excellence because it's more anonymous, you know, alongside dollar cash. So yeah, I think I think Venezuela is good for Bitcoin because it proves the real use case and it's shunting the economy into Bitcoin. It's part of the upward surge in my opinion. Venezuela, Europe, these are good answers, but the correct answer is North Korea. The evil government of North Korea has been hacking Bitcoin, then gaining incredible value by holding Bitcoin. They've allegedly been illegally buying Bitcoin miners from China, shipping them right over the border. Now they're burning their own electricity to get more Bitcoin's. The government of North Korea, the major benefactor from Bitcoin. Jeffrey Jones, more on that issue. Yeah, just a couple quick final points basically. I mean, it's really important to remember that Bitcoin is global, right? So it just really doesn't care about any single country. So that's just a point I want to remember that no matter where you are in the world, somewhere, somewhere is going to be friendly to Bitcoin at some point. And until, until of course, we finally reached saturation and everybody is friendly with Bitcoin. But yeah, Bitcoin is increasingly going more and more mainstream across the world. And I guess I just wanted to finally mention that Canada, as Gabriel mentioned, there's some mining as beginning to move across the world out of China and things like that. And Canada is seemingly scooping up a bunch of that because Bitfury has opened up a facility there. I believe that a couple other companies are going to go there as well. So Canada, specifically Quebec is seemingly pretty looking pretty good for the mining community. Lots of cheap energy and Canada is mighty cold. Moving on to issue four. Grab bag. Goldman Sachs caves Bitcoin is money. They used to say that it was a bubble. They used to say it was a Ponzi scheme. They used to say it's penny candy and should be worth just about as much. But now Goldman Sachs in a new report is calling Bitcoin money and saying that it has a chance. In theory, Bitcoin could succeed. Chinese Bitcoin miners, I sites in energy rich Canada. That's right, they've got cheap energy and cold air to cool the miners. As the conditions in China get too hot, the miners are looking to move to Canada. And Bitcoin, eyes consolidation, as the price alerts with $14,000. We've seen some dips down to $12,000, but that might be it. If Bitcoin can break over $14,000, it might rise to $17,000 and even $25,000. So, what's the real divine, which would you choose from the grab bag? Ooh, the grab bag. Yeah, I'm going to talk about the mining. I'll write it up. We talked about it with Frances Julio on Sunday. And I just loved my favorite detail from that conversation was Francis talking about lining up the data centers because what's happening in Quebec? They have a lot of hydroelectric power. And hydroelectric power is dependent on the large flows of water through power plants, at various rivers and lakes. And what happens is when there's more rainfall or more snow melt, then there's more volume and then there's less volume at other times. So it's very uneven. And what you have is the supply and the demand are asymmetrical. So you have situations where they never want to have too little. So there's always some sort of overage. And they don't have, it would be much too expensive to install giant batteries. And this is the case throughout the whole world, especially with renewable energy. With coal, you can just burn as much coal as you want to burn, then you stop burning it. But with renewable, there's kind of everybody has to deal with what Mother Nature gives them. And sometimes it's more than you can use. So in Germany, for example, we're pointing out also on Sunday, they're paying some people in certain regions because there's more wind energy than can be used. And so they're actually paying people or giving them a rebate on their power. If they use the power that's being generated so that they can keep their capacity up. And Quebec with the Hydroelectric dams, they, the situation except Bitcoin is an ideal way to store the energy in a portable form of wealth. So that's really what the production scheme of Bitcoin boils down to. Electrical energy and of course, a little bit of labor from IT people and a little bit of hardware to crunch the numbers for the Bitcoin mining produces the Bitcoin. So you're basically committing these resources and then you get paid back in Bitcoin. If you've got this extra power that is just not being used, China, Quebec, everywhere, then Bitcoin is a perfect way to store that value because other people will buy it off of you. If you don't have giant super-expensive batteries, nobody does, then you can't move that energy anywhere else. It's too inefficient to transmit it over lines to some other network. There's no other way to store it. This is our abstract way of storing extra energy around the globe. And so Quebec is taking advantage of that. And what's happening is that Bitcoin mining companies, like you mentioned, Bitfury and companies out of China and everywhere around the world, are basically buying up real estate in the existing data centers. And they bought their capacity in Quebec's data centers that are in any way able to take advantage of this hydroelectric overage. And so they're now prospecting land to build more data centers for Bitcoin mining to take advantage of all this extra power. And Francis was lamenting the fact that they couldn't even source the transformers to build the data centers. So they're running out of the raw materials for the data centers in Quebec. They're going to have to source them from somewhere else or get more made. We have a donation from space prior games. Thank you very much. We haven't seen solar-firing mining farms yet. There are. There are solar-firing mining farms. I know specifically of a guy who posts on Reddit, who's in San Diego County, East San Diego County. So that's the Mojave Desert in California. And I know that there are many other solar mining farms around the world. I'm very certain that that will become a lot more popular in places like Venezuela. Right. If they can possibly smuggle in the solar arrays, that's a great place to do it because it's equatorial. So yeah. That's my guess. I was just a picturing a guy with a solar array hidden underneath his shirt. I think that would be a bit hard to get through customs. But it's a great idea, Gabriel, that you could store the extra power in Bitcoin. Maybe these hydro farms could have a building next door with some miners in them. They run them when they're at extra capacity. It's like charging the batteries, but charging the batteries with electronic money. A lot of people are all down on Bitcoin because there's one single paper that says the energy costs will go up forever. The paper ignores the idea of Moore's law and chips getting better and better and less and less power and faster and faster. And that this would naturally happen for Bitcoin to a very competitive market. But this is one more thing for the environmentalists. Think about it. Gabriel is absolutely right. We have all these geothermal and all these wind farms and all these things without batteries. But if you could put a miner on them, you could crank that power into Bitcoin. Use the Bitcoin to buy more windmills, create more power, create less nuclear energy. Create less nuclear power, create less dirty coal power, etc. It seems very environmental to me for all the negative environmental talk we hear about Bitcoin. Jeffrey Jones, we've still got two left in the grab bag, Goldman Sachs or the price of Bitcoin. Well, just one of side note, Bitfinex did actually open up their signups again because what happened was, you know, with that price run up in December, there was just so many exchanges that actually had to start either closing subscriptions completely together altogether. Or just delaying them weeks if not months. And so there's a lot of people right now. There's really actually thousands, if not tens of thousands or more, people that are actually waiting in line just to get in on the crypto action. And so that's, I thought that that's pretty important to mention that Bitfinex is now opening signups as the, because the price has now gone down a bit. The market schooled off a little bit. So now exchanges can kind of catch up. The ecosystem can kind of catch up a bit. The moving averages can catch up a bit. So, you know, I'm all for the price as it is right now. It's doing perfectly fine. On the, you know, the mining, you know, Bitcoin will absolutely revolutionize the alternative energy space. I mean, it's going to create such powerful incentive to create competition. That it's just going to completely revolutionize everything when it comes to energy consumption, energy creation and on across the planet over the next few decades as this plays out. And then Jamie Diamond, I mean, this guy, I mean, he can really apologize now for calling Bitcoin a fraud. And now we got, you know, Goldman Sachs calling Bitcoin money. It's just more capitulation as expected. And this will continue more and more people who were naysayers on Bitcoin will eventually capitulate, they will eventually admit that they were wrong. Just like all the people admitted they were wrong about the internet, expect more and more people to do that. More and more people as, especially as the price of Bitcoin continues to rise. And yeah, you know, there's another place to Gabriel in Washington actually there's a pretty big community of people that are trying to create this Bitcoin mining out of the hydroelectric power that have set up over there. So that's a whole community of people that have put this together to create this cheap electricity, basically some of the cheapest electricity in the country. And so they're, you know, they're looking to use that power and they want to some of that utilization will be with Bitcoin miners. So that's pretty exciting and we'll look forward to more and more mining moving out of China and into the US and into Canada and across the world. So that's going to be really cool. And, you know, Andreas kind of said it best where we were at, we hit peak centralization, but it's not, we're going to be the forever. The pendulum eventually swings back. And so now we're going to swing, we're starting to swing into a more decentralized phase when it comes to mining. Of course, it doesn't happen overnight, but this is the phase. This is the trend that we're heading towards. Even in exchanges, you know, I believe that 2018 is going to be a huge year for decentralized exchanges when you combine lightning atomic swaps and decentralized exchanges like this is the year for decentralized exchanges. There will be more hacks on these centralized exchanges and it's just going to continue to push more and more people to these to own their private keys and to use these decentralized exchanges. So again, looking forward to that lots of good stuff happening. I agree with Jeffrey. It's great to see Goldman Sachs and JP Morgan and Jamie Diamond get on board with Bitcoin. It's also been fun for me to watch CNBC become crypto NBC. And I just think where were you five years ago? Where were you four years ago? It just shows what complete echo chambers these groups are. There wasn't one person on the CNBC panel who said, you know, you guys say Bitcoin's a Ponzi scheme and a fraud, but I see some real use in the technology. That's all you had to say four years ago. That's a reasonable assessment. And now they look like fools chasing after this like Johnny come lately, telling people how to buy ripple live on TV, promoting stellar and some other exchanges and just getting all excited about Ethereum because they know who the founder is or Litecoin because they know who the founder is. Get excited about Bitcoin. It's not about blockchains, not about ICOs. Those are fun and everything, but it's about Bitcoin. And as we see this new year with the Lightning Network, R SK and now the mass tree chains. We're seeing the technology come back to Bitcoin, which is what the so called Bitcoin maximalists have been telling you the whole time Bitcoin is better. Yes, other things are flashier and more exciting. They have marketing departments and rotating logos and countdown timers telling you to buy it. Bitcoin doesn't have any of those fancy things. All we have is the best technologist working on the best technology arguing with each other on a mailing list. If you think you can do better, do better, but I don't think you can. So let's move on to predictions or story of the week. Jeffrey Jones is ready to go. I'm not predicting a story of the week. Thomas is epic. No, is that the question? Just just the correction on that there Thomas. The innovation never left. You said invasions coming back to Bitcoin. We're seeing it come back new, new, new, new. That has never left. What we're seeing is more tension come back to Bitcoin, but the innovations are never left. It took so long to get segway on there. Everyone's like, I don't want to upgrade to Windows 98. It's no good 95s where I'm staying forever. We had a bit of an old time or a disagreement on that. But no, everyone's on board now. We've got the 64 bit architecture. Risk is sweet. That kind of thing, right? Risk is sweet. Yes, hopefully you're quoting the one of my favorite movies in the world, which is the hackers movie. And so that would be awesome. But yes, all sorts of crazy stuff happened this week, guys. I mean, you know, the petition that we got almost 10,000 signatures for to finally get Brian to say something about segway. What was was great. We're looking forward to what they're going to be doing with that. Then of course, KFC. I don't know if you guys caught this, but KFC live streamed on Facebook. Nothing more than a picture of a bucket of KFC chicken with the price of said KFC bucket on the bucket itself. So like I couldn't believe it. Like you're literally looking at a pride. You're looking at a bucket of KFC chicken on on KFC's official website on Facebook. And what you're seeing is a big old Bitcoin logo in the price of it in Bitcoin. So I kind of had to pinch myself to make sure that I'm still was still awake when that actually happened. Because now it just, you know, the stuff goes mainstream and you know, people say it took years and years to go mainstream. But it feels like it's it's it's feels like it's moving fast. And as everybody can kind of see, we really are moving fast. More and more people are hearing about Bitcoin. And when these big companies like KFC and whatever else, Taco Bell, when the other when the other big companies start doing these type of campaigns to raise awareness about Bitcoin. It's going to get really funny because remember once you get into Bitcoin, all you want to do is talk about Bitcoin, right? All you want to do is spread the word and allow everybody else to have the same abilities that you have, right? Which is the ability to have and hold sound money, something that we have the average person hasn't been able to do for thousands of years. So pretty exciting stuff. And I expect that to continue. Everybody in the chat loves hackers, the movies, they say we've got a rabbit in the system. It's time to hack the Gibson mess with the best die like the rest Gabriel divine prediction or story of the week. My prediction is that I'm going to see the movie hackers for the first time at some point in the near future. We've got a bonus tip. It says that good guys roller blade bad guys skateboard. This is 90s culture. Take it down the 80s to Gabriel. You haven't seen hackers. Oh, yeah, man, you know, I lived in Europe when it came out. I missed pretty much all the movies in the mid 90s because I was in Europe and they they came out. There's like that window, you know, where they came out way later over there back then. And so I guess I'm going to have to be under the influence, according to the chat. So yeah. Yeah. Anyways, my story of the week actually ties back into something Thomas brought up, which was Princess bride. I did a series of tweets on Twitter. You'll have to search back in my timeline to around Wednesday. I think Tuesday, Wednesday. And there's a bit of a thread there with some tweets describing the different people, the different actors in the Bitcoin ecosystem. As as Princess bride characters. And I probably should have brought it up while Jeffrey was talking. But if you'd like to hear them, I can try to get him get him up here. So I could read you know, okay, the vortex is the one here. He prefers hackers to to Princess bride. I'm just going to do a quick search for a busy me. And I know I probably a better movie hackers is more of an acquired taste originally when you're watching it, even in the 90s, we were laughing at all the things we say like, I don't have a handle. I don't have an alias like who knows who I am. No one knows who I am. I'm nobody. Dr. Doom, Legion of Doom, all these great little references. William Gibson. It's the name of the computer. They're also saying they like pirates of Silicon Valley, the story of the Mac and Tosh with one of those breakfast club kids and Noah Wiley. I think plays Steve Jobs. It's a good movie too. I really enjoyed for technology movies or TV show Halton catch fire. A little bit of a weird name. The first season before they started inventing everything. Also, we need to say honorable mention to sneakers or people need to say sneakers with Robert Redford and Danny. The guy from Ghostbusters. It's just fantastic. Really good. What's what sneakers sneakers is the ultimate hacker movie that apparently no one watched about me. I've seen it a dozen times. It's got a guess who's coming to dinner in it. It's just fantastic. And it's about these guys and they like break into banks. They're a red team or whatever they hack banks. And then of course they get involved in some serious stuff. But it's great. It's got the whole Soviet end of the Cold War. No one knows who to trust anymore. No one knows it's got Ben Kingsley. Fantastic film. Wow. That sounds really good. That sounds better than hackers. It's more like a real movie. Hackers is just fun. But sneakers. All right. Good. Good movie. All right. Gabriel, you need to end the show. The chat says more movie. More movie reviews. Last Starfighter. Talk about how bad the new Star Wars is. No, I'm not going to touch that. All right. Gabriel. You got one more shot. Here you go. No, forget it. There's no way. Go go find it on my Twitter. Gabriel. Yeah. Gabriel divine. All right. Check out Gabriel's Twitter. We want to go towards the end of the show here. We want to give a shout out to the McLaughlin group. John McLaughlin passed away about a year ago. And they've brought back the show with Tom Regan. Good stuff. Subscribe right here at McLaughlin group on YouTube. This is where we get the format for this show. Everyone's going to go watch hackers the movie and then watch sneakers. That's a good one too. So thanks so much for watching. Thanks for giving us a thumbs up and a share. Make sure to subscribe down below. If it's your first time here. We'll be back on Sunday with Jeffrey Jones and the Bitcoin news show around 12 new in Pacific time. And then we'll be back next week with today in Bitcoin. We should have checked out the world crypto network live stream. We're doing a test. It's kind of like you could watch reruns and you can all chat live. It's like reruns with friends. Give it a try. We've got some old stuff and we're going to start playing some even older stuff when we won out of the recent stuff. So thanks so much for watching. Until next time. Bye. Bye.