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, Andy Hoffman from Crypto Gold Central. Thanks for having me here, lots to talk about. Gabriel D. Vient from Future Rant. Hello Bitcoin, hello posterity. Thanks for having me back. And I'm Thomas Hunt from the World Crypto Network, reminding you to give us a thumbs up and a share so that more people will find the show. Moving on to issue one, blockchain madness. The consensus convention took place this weekend in New York City and it was wall to wall blockchain. Nearly every business in every space imaginable believes their data would be better managed by a decentralized ledger than their own centralized databases. Meanwhile they agree, nearly unanimously that the only impressive thing about Bitcoin is the blockchain and that Bitcoin is not the blockchain's killer app. Andy Hoffman I ask you, is this entire blockchain madness a snow storm and attempt to disguise the brilliance of Bitcoin from the people to keep Prometheus's flame for themselves and you serve Bitcoin's place as blockchain's number one killer app. Well, if it were up to me, I would completely get rid of the word blockchain entirely. It is just an annoyance to the entire Bitcoin community. It is a source of misinformation for the rest of the world. And I think the people who are talking about it, the talking heads that get to be interviewed are largely people that have no idea what it is or how it actually works, but it sounds cool to say that you're involved in blockchain. When it comes to actual blockchains that do anything, as far as I see, Bitcoin is the only one. I guess maybe a theory and a few others do something, but for the most part, it's just buzz. In some ways it's a misdirection for people who are trying to get people away from Bitcoin. In other ways, it's just a way of showing your ignorance. Gabriel, D. Vaughan. Yeah, this is really fun to watch. We have been talking about this stuff since 2014, right? That's when the powers that be, you might say, or powers that were, started to see that they were actually deer in the headlight. They had failed to innovate for so many decades with their banking system, especially in the US and the specter of sound money. Reared its head in the form of Bitcoin's rise to prominence in 2013, and their multi-pronged attack, which included internal, what you might call community attacks, which resulted in Bitcoin cash or B-trash, as it's known, Sharatechestner on the chat. The other prong of the attack was just a straight-up attempted, what you might call, a usurpation, but strictly in a rhetorical sense, or rhetorical usurpation of the technology. Spreading this meme, which is really a good name for it because it doesn't have any technical gravitas. This meme of blockchain, not the blockchain, definitely not the Bitcoin blockchain, but blockchain in general. It's a complete joke, and it doesn't add up. Anytime a security researcher or a database expert or anybody actually has to go in and build one or actually researches it properly, they see that this is actually just a drag on your efficiency because you're a centralized company, and you cannot benefit from the decentralization that Bitcoin features. What you're doing is just slowing down your existing databases for absolutely no gain. It's a situation where there's a consortium of businesses who are actually adversarial, but there's too few of them. If you have a million adversaries, then you can build a decentralized network like Bitcoin. If you have six or 11 banking partners, then it's not decentralized enough. They're still just as adversarial in competing against each other, but it doesn't have sufficient decentralization to protect any of the given people or parties in the system. Basically this is all a complete, what you might call a red herring or a mirage. This is a mirage to sell consulting. It's been very successful. Of course, they put a lot of money behind it because they wanted to try to stem the rise of Bitcoin. It's not going to work. It's not working, but the stem is a vague term. It might be delaying it a little bit. Good for them, delaying their total collapse. Meanwhile, hopefully for their sake, they're actually buying Bitcoin in the background. Meanwhile, you have all these clues people outing themselves as technical naïves like Jack Ma. Basically, some Jack asked, exact, not technical. Some technical exec comes into his office and says, hey, you know how we have all this problem with security and privacy? Jack says, yeah, I have to pay off the Chinese government a lot of money for this crap. We keep getting hacked. His clue is exec says, all you need is this magic solution. Bitcoin uses it and that works. Then we can use it. He says, great. It's going to be amazing. Four years later, we've got what, $100, 200 billion spent. Maybe not quite that much. $10, $20, $50 billion, maybe even more spent on these pilot projects. And zero. As far as I know, there are zero that are actually used for, oh, I see now that he said it's guessed it's there. I thought he was Dutch. Sorry. Sorry about that, gee. It's like a soft G like in J. Breel. That's what I thought. Anyways. So yeah, I mean, none of them have really are really being used. There's like, oh, it's finally went live and we had two transactions last month. It's things like that. So nothing has actually come out of this. It's been four solid years. Like, they were already going to be started in the spring of 2014 with this bullshit. It was really started by that lady who invented some of the derivatives, which actually caused the 2008 meltdown. What was her name again? Live, live, then. Live, masters. Right name. Live, masters. Fantastic name. I bet you heard, you know, a real name is the Deborah Mick's, the Slogal Gog. Anyways, so yeah, you know, this, it's been 40 years. There's nothing to show for it. This is a total joke and all these people will be seen as absolute fools by historians. Yeah, yeah, if I can add to that, I mean, I do think that Bitcoin and blockchain should be synonymous because everything else is either a misdirection or a, or a scaperial says trying to sell consulting, you know, when people ask, they say, Oh my God, look at these smart companies, Microsoft and IBM and JP Morgan, who called Bitcoin a fraud, by the way, doing blockchain stuff. But the fact is they're not really doing anything except misdirecting people or showing their ignorance or, or passive aggressively attacking Bitcoin because it threatens them. And you know, you're referring to Thomas this article where Jack Ma, the, you know, the Ali Babaga, Ali Bab is kind of the Chinese Amazon, you know, saying bad things about Bitcoin. But if you read the article, he really doesn't say anything. It sounds like he has no clue what Bitcoin is and he's too rich to care. And in the same article, it actually, it says here's the high profile Bitcoin basures, right? Okay, everyone. So what do all these people have in common? Okay, Warren Buffett, Charlie Munger, Bill Gates, Jamie Diamond, Jack Bogel. Paypal executive guy, the former Bundesbank president and Jim Kramer. Are you reading a list of enemies of Bitcoin? Yeah, and Jim Kramer. So either you're someone who is completely tied into the legacy system or are too rich to give a crap about Bitcoin because when people like, when people are saying, Oh my God, Bill Gates should short it to put his money where his mouth is like, Bill Gates is worth $50 billion in accounting. He could care less about Bitcoin. And he may have even been paid off. He may have been told what paid off. He may have been just told by someone, Hey, can you help us out and just say bad things about Bitcoin? Because he could care less about Bitcoin. I'd like to mention a detail from this article. Buffett originally called Bitcoin rat poison, which we were all very pleased about and totally agreed with. Bitcoin was designed to kill the rats of the financial system. Like I don't know if I would call it a rat. Certainly central banks are rats. But now this article says rat drug. So apparently somebody, somebody tipped him off to the fact that rat poison is actually they like that. So he's trying to call us now rats that were high on this. But we know what the real story is. It is actually rat poison war. Well, it's funny, Gabriel, that you'd mention a mirage and a Potemkin village because this reminds me a little of when they had patent in Europe and he had a whole second invasion force going. They had all these fake houses and these fake tanks and they actually fooled Hitler for a long time that the invasion was coming from there because why wouldn't they go with patent? And if blockchain is the best idea about Bitcoin, why would these businesses waste their time with Bitcoin? For the last four years, Coinbase has obviously been wasting their time with Bitcoin when they could have got into blockchain. They could have been blockchaining everything they missed their opportunity. Maybe that's why they keep adding new coins. And it's funny as someone that's been in this for a little amount of time, it kind of seems seasonal. We already had a blockchain wave years ago before the altcoins, before the ICOs and now we're back to another season of the blockchain media. I don't know if it's going to blow over though this time. They have so much hype. They have commercials on television. I hear them all the time. IBM is blockchaining diamonds. The entire diamond problem is settled now. Not diamond. Don't even rent that movie anymore. It's over. IBM has blockchain diamonds. Now I used to think this was a good idea. I used to think I could put my blog on a blockchain, but then they explained to me how many people would have to mine it and how they'd have to be a token of value for my blog to protect my blockchain and that this wouldn't work, right? No one wants to mine token of value for Tom's blog. That's stupid. But these new blockchains where they don't have miners and they don't have tokens of value are just shared databases, right? They're really hard to edit, but they're not impossible to edit if you own all the people that are mining the database and if you own all the people that are verifying the database, how is it hard to edit this database? Maybe I don't understand it. I want to understand. IBM send Watson to me, explain it to me. I'm not getting it. It's all a fake thing. We're going to look back at this year's round. We'll be like, how did all these smart people put all these millions of dollars into this obviously fake thing that some kid in his bedroom was shouting was fake. We talked about over and over again, you need a token of value, you need decentralized miners, that's why the Bitcoin works. The only thing the only truth that Bitcoin tells us is how much Bitcoin you have. It doesn't tell you if the diamonds are dirty or not. Yeah, it's the combination of Nick Sabo's innovation of the hash locked time database, which I've released from around 96 and 1996 and combining that with Adam Bax Proof of Work, which is originally designed for email spam. The combination of those two and several other clever cryptographic systems and elements is what makes Bitcoin special and what makes it work. Private quote unquote blockchains are really hash locked time database. Hash locked distributed databases, which were invented in 96. There's a reason why nobody was talking about them before Bitcoin. It's because they're not all that useful except for decentralized systems that also have proof of work. That's why when Bitcoin came out, it was suddenly like, wow, we now have use for this proof of work and hash locked distributed database idea that's so clever sounding, but nobody really used it yet because they're only really useful in combination. This is once again stripping it back out and saying that it's some sort of innovation, but even in 96, it wasn't that new of an idea. They had hashed database sequential database entries since at least the early 90s. I saw something happen at my former firm day at Cell Bullion and of course the Bullion business, you can look at the US Mint sales. It's dead. People don't buy gold anymore. The only buyers in the world right now are probably the Chinese and Russian governments because they don't realize that no one cares about it anymore. But the fact is I saw the other day that my firm and probably others, they now have a blockchain product where you are somehow buying gold that is like digital backed by the Royal Mint of Canada on some kind of blockchain and I'm thinking, but the whole point of buying gold is because like Bitcoin, you hold it yourself. So how is a blockchain digitalized gold that is centralized by the Royal Bank of Canada, something that is good for, I mean, it's so against why you would buy gold in the first place. And that's an application of quote, blockchain, which shows you what a ridiculous message it makes no sense at all. It's a trusted system for the gold tickets and you can trust them not to print the gold tickets because they put them in a blockchain, but you can just print as many tickets as you want. Yes, it's what they've already done with the derivatives destroying the gold market. Now it sounds like they're just adding more. And they want to bring it all to Bitcoin. I'm so excited. Coin desk, just a network coin base. Sorry, they just announced that they're going to do high frequency Bitcoin trading derivatives, high frequency trade. We need to get some CDOs, all the worst parts of finance we need to attach to Bitcoin immediately because we need to see if we can kill the sound money project, right? It keeps, what will it take to kill this thing? Did Coinbase really say that they were going to have high frequency trading? Yep, they're optimizing their systems for high frequency trading. What a horrible company. I sure will. Yeah. It's like they have a, I mean, it really is as much as they're a big company and I tell people to use them for onboard and they have great recurring buy program. But it's like they have a big list of bad things we could do for Bitcoin as like have Bitcoin cash on our system. They have Ethereum and Ripple to confuse people when they could just be buy Bitcoin. One, two, three, buy Bitcoin. Instead, they're like, here's the thing called crypto currencies that you don't understand at all. Now, now make a choice between four of them randomly or adding new everyone, new ones every day and we're the one easy place to buy Bitcoin. It's such a complicated message. Their message could be so smooth, but no, they're going after different markets. They don't want the people. They want the high frequency. They're going to be great. But Gabriel, don't you feel like we're on an interesting path here where at first Bitcoin was this dirty, rebel drug currency made by this loner in his basement as this revolutionary code and Satoshi does it. But then now we're like Satoshi invented the blockchain. The blockchain is the greatest business innovation since the dual ledger. It's amazing. It was invented by this dirty rebel for his drug business. How has any of this make any sense with what they were saying years ago? Or they could just completely throw that out? Well, they're in a tough spot because this thing's gunning for their power base. Really, I mean, it's an end run. It's exactly what Friedrich Hayek said. I believe it was in the early 70s. He said, the only way we're going to be able to do this, get sound money again. It's not happening with gold backing. He said he told all his libertarian buddies, you guys are, that's a pipe dream. Forget it. That's never happening. It still has a central point of failure. It's never going to work. The information theory behind it doesn't work because everyone's going to depend on that source. We're going to have to, the only way we can get money creation back in the hands of private society, of the market and private wealth holders is by some sly end run around that system. That's the only way. I have no idea how it's going to happen. That's exactly what Bitcoin is. Satoshi probably read that. He was a big fan of the Austrian's obviously. He said, look, this is a my sly end run. It says system with this computing system, they can't shut down the whole internet. They're too dependent on it as well. Also, they can't shut down this thing because it's totally grassroots. It's like a mushroom or something. It's like trying to fight mold or whatever. It's like the spores are everywhere. You're never going to stop that. No matter how many derivatives and shit they build on top of it because it's a solid foundation, there are those of us who can hammer our rebar into that root concrete and be part of the system and own our own private keys and transact on the blockchain no matter how expensive it is. We're going to use that. We can build layers on top of it that have certain amounts of trust built in, tiny of it's like lightning network or a ton like private trading, but that's not going to affect you cannot affect that. They're stuck. They're stuck. They're desperate. That's why there's these logical inconsistencies that everything they say. It's just all lies and we said earlier a mirage of attempt to convilage is a great way to play. I'd like to consider in Star Trek where they're always talking about how they don't need money anymore, like their society is so advanced. I think of there's so many things that have occurred in Star Trek that actually have started to occur here technologically and I'd love to know their explanation because to me, if they had an episode about how the Star Trek world got that way, it might have something to do with a decentralized currency that took the power out of the 1% hand and into the 99% hand and made for better society because that's ultimately what this one and only blockchain is doing is making a society that is dominated by a handful of warlords into one where everyone will have a chance to participate in which case money will probably have a little less importance than it always has. I think so and it's also going to be uncool to have a great amount of wealth. People will be able to see it in your wallet and they'll see that it's doing nothing just sitting there. It's going to be more cool to donate it to projects and have a wallet that's linked to large donations to many projects like the Pineapple Fund recently. It was an excellent example of a Bitcoin or who became rich, had too much money and then gave away like $25 million, a million to each project. I wanted to save some of this for the Bitcoin Energy Project later and talk more about Bitcoin inevitability but like Gabriel said, being anonymous is a huge point for Satoshi. This is V for Vendetta level thinking. Someone needs to go home and rewatch that movie and see how he has every little thing put together. Everything is planned out. You say, how can someone do that? He said, but Satoshi did that. Everyone wants to know who he is. The most important question is in Bitcoin is who is Satoshi and does he still have access to those original private keys? Maybe he can be my friend, right? Every reporter, every task line, everyone's like, why can't we stop talking about Satoshi and it's because he has a billion private keys or whatever it is. It's not acceptable. They're probably destroyed. He's probably never coming back. But again, the foresight that it takes to do this, the forethought and then the planning and then to not break years and years and years. But let's move on to the next topic. First, the exit question. On a scale of one to ten with one being nothing, zip, zero, bump kiss and ten being absolute metaphysical certitude. How certain are you that this latest wave of blockade? Blockchain hysteria will blow over. Andy Hoffman. Well, first of all, props for bringing up V for vendetta because that was my favorite movie before I even heard about Bitcoin. That is just everyone should watch it just because it's so amazing. Yes, it's so relevant for Bitcoin because of the decentralized movement that beats the one percent. But how power of an idea? Yes, stop an idea. That's right. And it's the guy that plays V. He's the guy who actually plays Mr. Smith in the Matrix movies. No one knows that because he doesn't talk with that elegant voice in his other roles. But anyway, how confident am I that this blockchain hysteria will pass a lot closer to ten than to one because I don't think there's really any use for almost everything that's being talked about. Not everything, but just about everything. Gabriel, divine. Um, blow over. Let me think. You know, I think there is a chance that there could be other blockchains besides Bitcoin that are relevant someday. But as far as this corporate private blockchains thing, ten. The answer is seven. They'll keep talking about it. It will keep not making sense, but they get a lot of money and they're all paid. Moving on to issue two, Bitcoin slumps. The price of Bitcoin is declined recently. While many were expecting a bump from the consensus conference, no bump came. And then the fledgling cryptocurrency actually fell from challenging ten thousand dollars to challenging eight thousand dollars the other way. Gabriel, divine. What is the reason for Bitcoin's continuing price woes? Well, I'm sure ZeroHedge has found the reason. They always love to, to, to report on why Bitcoin makes its moves. So I'm going to say that ZeroHedge knows the reason and it's probably something to do with some guy with a pickaxe in Mongolia poking the ground slightly and he made a small leak in a pipe and somebody got worried in the next village over. And sold their goat and that's why the price went down according to ZeroHedge. We also would have accepted Bill Gates or any other rich old smart person saying Bitcoin is no good. Andy Hoffman. Well, first of all, that's Larry's gave that you brought up ZeroHedge because I've had an ongoing feud with, quote, Tyler Durden for ten years. He hates my guts. He's blocked my, I can't even, he thinks that I want to see his Twitter feed, but I'm blocked and I've called him out from way back when for doing the same kind of thing with gold. Just absolutely, I name reporting, always, always making up reasons for everything. And it seems like by the way that he's, that he, Tyler Durden or whatever you want to call him. He doesn't seem as antagonistic about gold anymore, probably because his clients who are all the mainstream, ironically, the mainstream, media and politicians don't care about gold anymore. Now it's Bitcoin where he's after. It's the same kind of thing. He always has an absolutely ridiculous reason for it. It's usually completely wrong. It's always out of date. It's the titles are set up to make things look bad. It's no different than when you get from Wall Street, the same people who are talking about blockchain that are attacking Bitcoin. But look, the reason and today I talked about it in my audio blog, I'm just exhausted from fighting about why it moves every given day. The fact is a year ago is a thousand. Today is 8,000. Everything is great in Bitcoin world. But if you want to say, you know, what is the reason? I mean, this is, as I called it, the biggest pink elephant, the history of Bitcoin pink elephants. This is the Mt. Oxwell. I mean, it's pretty obvious. You know, he, he, see, he moved 16,000 coins on April 25th. There were no sell-offs then. So obviously he didn't sell anything then. Then on May, but then a couple days later on a Monday morning, all of a sudden, just we were at 10,000. The price started selling off massively. And then when it got up to 9,400 again, he moved another 8,000 coins and an hour later, a free fall plunge that lasted for like two weeks. So the problem, the biggest problem is not that he's selling this Bitcoin because it's really not worth that much. I mean, it's about $200 million worth and he's only got a little more than the ability to left. But the way he's doing it, as he did it back in January and December, no one has any idea how much he has left. He's just indiscriminately dumping. No one knows when it's coming. He's not using the OTC markets, obviously, so we don't know what's going on and in a time. Andy, what would be a correct way for him to sell it? Describe an optimal solution. Right. Well, you would do what you did. You do on Wall Street when you have an ill-equid position, a large ill-equid position that's being sold for non-fundamental reasons. You, you have brokers market the deal as an auction. It's very simple. If he went to Coinbase, Crackin, pick a couple, pick, pick Cumberland, Genesis, the big, the big OTC brokers and say, I want you to tell your clients that I have a block for sale from the Mount Gox wallet that's being sold for non-fundamental reasons. They could, in 24 hours or maybe two days because it's Bitcoin, so let's look within stocks. They could sell the whole thing, no problem. But it's very nefarious the way it's done. It's very untransparent. And if they did that, it wouldn't affect the market because new money would come in and be originally traded for this. The problem with what they're doing is it affects the market, right? There's a certain number of buys and sells. And when they flood in with their sells, wipes out all the buys. Yeah, because let's face it, in Bitcoin, you know, the land of fud, there's always a fear in the back of everyone's minds that there's something that we don't know. So when you see the price plunge, we go, oh, something just happened. We don't know. It would never happen in the stock market because it's a lot more transparent. So especially now, we just came off of this big bear market people having their mind, the fear of big giant crashes. They also have seen that what the Mount Gox wallet has done. So they're terrified. And when they see the price plunging, it just begets more selling. But if they were transparent about it and just said, this is what we're doing, the big institutions would say, yeah, let me in. I want to buy this because it's being sold at a discount for a reason that has nothing to do with what's wrong with Bitcoin. And so again, you know, until sentiment changes, this, this Mount Gox trustee is going to have an impact on the market. The thing is though, that the more that he sells and the less he has left, the more that the, the institutions get emboldened. And if I'm listening, if I'm hearing this correctly, this lawsuit may wind up being settled sometime later this year, at which point then the institutions are really good. They're going to be like, bolsters jumping in because they know that the selling is going to end soon. And I really do believe that this is the number one reason why the price is head trouble going up. And again, to confirm, this is just the absolute worst way to do this. He's getting less money for the people he's selling the coins for. He's crashing the market. Maybe the people with a large amount of money are getting in, getting some cheap coins. That's the only person I really see benefiting from this. Other than the fact that if there is a rule in the Japanese court that he has to sell X number of coins by Y-Day, he's accomplishing that, right? He's fulfilling his governmental function, right? Yes. And as a libertarian thing, you guys would love to tee off on here. It's a government functionary carrying out his task blind to the other causes. And the last thing I'll say about this is when you talk about the stock market, there's all kinds of insider trading rules and regulations. But in crypto, there's absolutely none. And for all we know, he could be colluding with the Bank of Japan or anyone say, look, I'm selling this. This is what I'm going to be doing and people can get in and front run because there's no rules. Heck, it's not even the United States. We're talking about there are people in all different countries in the world that have absolutely no rules of insider trading to start with, let alone in crypto. So this is just an ugly situation where whether it's being done overtly or covertly or inadvertently that this is a giant mess. I mean, it's not a coincidence that he started taking the, he literally started taking the coins out of the wallet December 17th at the peak and it told this very recent where he's April 25th and May 10th, the last coins he took out were February 6th, where he took 8,000 out and that was the low of the market. So it's quite obvious that I wrote a crypto audio blog. I did the other day saying, well, 2018, be the year of the Mt. Gawks trustee, it very well might be, but if it's, but if it this case ends in 2018 and they actually resolve it, he'll be out by the end of the year and it'll be a distant memory in the rear view mirror. All right, Gabriel D. Vind, do you have more on that or should we move on to the exit question? The Bitcoin changes over time. That it does. Now exit question, the price of Bitcoin this time next week, Gabriel D. Vind, higher or lower. I'm going to continue my 100% record and getting these exactly right every single time by saying higher as usual. Andy Hoffman. I am going to say it will be the same because these, these forces, it's hard to say when sentiment will change and as long as this Mt. Gawks trustee is there doing this or people think that he's there doing this and that the next shoe is about to drop, it's going to be hard for a sustained, I mean, look, you see what happens every time it goes up now, it's immediately absorbed and I believe that that's him. And so I think that there's going to be tremendous institutional support because Bitcoin is Bitcoin and it's worth a lot more than it is. So I think these forces are going to be fighting each other for a while until we get a little resolution. So I will say the same. Oh, the same push. I'm going to go with lower, but I'm also always wrong about this. But if I know that I'm always wrong about this, I'm not sure if I'm predicting anything. Moving on. You want to give me the poison if you were sitting there. So I'll take the left glass. Exactly. Never mess with the Sicilian when death is on the line. Check out the World Crypto Network podcast at worldcryptonetwork.com or on iTunes. We've got more than the world crypto network. We've got tone veys, Jimmy Song, Adam Meister, the Bitcoin Meister, the noted podcast show and much, much more. Check out the world crypto network podcast and subscribe today. Issue three with great power comes great responsibility. The media is back again this week with another study based upon entirely speculative numbers that expresses in a panic to voice that Bitcoin mining is using too much electricity. The headlines vary, often comparing Bitcoin energy production to a small country, such as Ireland or Austria. Are these doomsayers correct? Is the demand for Bitcoin so great that the miners will stop at nothing, eventually using up all of the world's energy to mine Bitcoin while the world burns in a sick allegory to infinite jest that only I will get. Andy Hoffman, I ask you. This reminds me because in gold, we'd have all of the most pathetic propaganda memes that would come out, mostly to people who either hate gold or don't know anything about or care. But my favorite was you can't eat gold. You shouldn't own gold because you can't eat it. Some people would actually take this Warren Buffett. It's not practical. You can't eat it as a reason why it's bad. In this case, this has become one of the de facto, the go to reasons why Bitcoin is so bad. It's ridiculous. First of all, this very study I was reading the article you talked about, yes, they say Ireland. Well, Ireland uses one tenth of one percent of the world's electricity. They're saying, basically, Bitcoin uses one tenth of one percent of the energy. This is absolutely horrible. Then it goes on to say that by the end of this year, it's going to triple. First of all, if it's going to triple by the end of the year, it says that there's a lot of interest in Bitcoin for a negative article about Bitcoin. It says it's going to triple to, quote, almost one half of one percent of global electricity output as if this is like some giant thing. More importantly, the whole point is that Bitcoin is going to be replacing things. It's going to be replacing banking functions that use asphoronomic amounts of electricity. In fact, if they get their wish of all these blockchain things, it's going to be replacing all kinds of industrial businesses that use a massive amounts of electricity. Again, this is, to me, this is the equivalent of you can't eat gold. Gabriel, divine. First off, I'd like to say that I also read Infinite Gest. Really enjoyed it. I'm a big fan of David Foster Wallace. I'm coming at you, bro. Let's talk Infinite Gest for a second here. I'm actually very curious about your analogy. I am trying to parse the metaphor, you might say. I'm assuming you got a foreword. I'm going to train at the movie, right? Yeah, obviously the movie that is so riveting that it turns the viewers into vegetables. They basically become totally catatonic upon viewing this video for more than a few seconds or whatever. Bitcoin mining is so addictive and so profitable that we would give up all under other industries to run Bitcoin mining. Yeah, that's what would exactly happen. Yeah, that's okay. I get it. I thought that's what you're going for. That's good. That's great. Yeah. So, I totally agree with Andy that this is a matter of replacement, right? And this is what is so maddening and idiotic about once again this propaganda, it's once again a total mirage. Like even there's an idiot in our chat who thinks that it's a bad PR for Bitcoin that it uses energy. You need to do more studying, Mr. whatever your name is, I can't pronounce it, starts with a Y. So, get your act together and start reading up on exactly what's going on here. The existing banking and financial ecosystem, or I wouldn't call it an ecosystem, financial industry, is not only way ballooned and huge, way bigger than it needs to be because of just fiat printing and being out of control, but also it is very difficult to measure. So you'll notice that Timothy Bealee, who is known for his very superficial and stupid articles about Bitcoin, you'll notice that he doesn't discuss the replacement at all. It's because they don't want to acknowledge that this is gunning for their lunch. The only guy who said it is Jamie Diamond. He said, they're going to try to eat our lunch, but I'm not going to let him or whatever. He's at least he understands that that's the point of this system is to destroy him. This is a destroy, fractional reserve banking and central banking. And so Bitcoin, the miners and Bitcoin are out to destroy all of the lights and air conditioning and all the money and the accounting and everything, all the people that are wasting their lives working for banks and central banks and economists, mainstream economists, mainstream economists, all of those people, all of the energy going toward that industry is meant to be totally cut off from them. If you replace them with the algorithmic equivalent, the decentralized better sound money replacement, I guarantee you it'll be orders of magnitude less. And as what's his name, Michael Goldstein says, many, has said many times, the more the better, the more energy we're using for this, the stronger the ecosystem gets and the faster we can move on from the horribly wasteful system that we have now. This article, not mentioning any of that, is what shows the bias very, very clearly. It's a, it's totally ridiculous and ludicrous. Now, the way it looks to me is that Bitcoin is inevitable and that there's this sense of Bitcoin inevitability out there. Why? I'm talking today a lot about old shows. I read an article where someone said they heard about Bitcoin on the Bitcoin group years ago when Andreas was on and we were talking about the same things then that we're talking about now and we're talking about them in the same way. And it's like, why were these smart guys, you know, Andreas is smarter than everybody, but why, why are these smart guys able to pick this Bitcoin thing out and be so right about it? And it's because it's inevitable. And I think when everybody rejects it at first, they go away from it, they leave it, they come back to it later, they see something has changed, something's different about the project and they understand it and that it's going to be this way. When I first got the MP3 in 1997, I used a command line program to compress a wave that was huge, like 200 megs to an MP3 that was small, like 15 megs. And when I saw that happen for the first time, the light bulb went on. Music was over. All of music was over and it didn't matter how they flexed it around, how they did it. Eventually, the iTunes system with streaming, Spotify with streaming, all again, using the MP3, using this compression technology changed music. The artists have to tour now and they survive by merch. In the same way, Bitcoin is going to change the banking industry. It doesn't matter if we want it to or not, we can resist it, we can make it hard for Bitcoin to do this, we can succumb to it, we can make it easy for Bitcoin to do this, we can like the consequences or not, but the consequences are coming. The Bitcoin is going to change banking, it's going to replace the stock market. All these different things are all going to be digital and on Bitcoin now. Like Gabriel said, all these jobs, all these brick and mortar, all these armored cars, they all burn fuel too. No one's calculating in the waste of the current system also, it allows you to borrow endless amounts of money for war. Nobody talks about this anymore because they'd rather talk about the blockchain and their supply chains, but sound money doesn't allow you to print excess money for war. Now, this does change things. It's going to make it harder to get into space, it's going to make it harder to do large road projects. There's certain credit problems, we haven't figured out yet on the sound money Bitcoin system, but once again, it doesn't matter if you like it or not, it doesn't matter if these challenges eliminate your business. No one cares, Bitcoin doesn't care, it's not going to change, it's like the internet, the internet for email, what it did for snail mail, what it did to the fax machine. These are the banks now. That's why they're upset, that's why they're fighting this with the Bitcoin and the energy and the blockchain. Okay, I went off on a thing. Let's go on to the exit question, which is also another thing. When the printing press was invented, did people fret that they would run out of ink? Did we not go to the moon because spaceships required too much metal? Is this all just a replay of the Red Flag Act, the outrage against the internet and all of the other nonsense that comes with a changing of the guard? Can the old world simply not understand the new world's ideas? Andy Hoffman. I'm not sure what the question is, but yes, the early adopters are the ones who get it and everyone else comes in way after when they realize this inevitability that they wish that they had saw earlier on. In the meantime, the propaganda, the lies, the misinformation are hot and heavy from those that are threatened by it and from General Ignorant. Yes, again, I can't emphasize, especially as I see now, it's one thing, it gets a little mass like, let's say, last fall where everyone seems to be into Bitcoin and crypto and everyone's calling my company, how can you help me? I need to do this. But you realize that all that really was was just people who saw prices go up and wanted to buy things. Now that things have leveled off, you see that there's literally, it's like crickets, so few people have any knowledge or interest in this. We're in a scenario where it's just right for these kind of things to be put out there. This is absolutely ridiculous things like too much energy and blockchain, but the fact is that it is inevitable and we are way early. I think, when I think of vortex saying early days, I think that more than ever as I see just the landscape right now, but eventually everyone will have to come around to it. I also like the way there's always some old rich tech guy that they haven't asked about Bitcoin yet. They're like, oh, we asked the inventor of the Etch's sketch about Bitcoin and he doesn't like it. Oh, that's bad. That's bad. Gabriel, Tvon. That was really good. The Rubik's Cube guy said this Bitcoin is going down to talking, like, talking that he doesn't like it. He knows who it is. Hungarians. I think that I loved your rant, Thomas, is really good to hear. It's absolutely one-to-one analogy with these earlier industrial turnovers. You look at the invention of the automated loom or whatever that thing was in the late 18th century and that was where we have the term, bloodite from, right? This guy, Lud, put together his buddies that were all, it was like a home, it was a wonderful thing. These people in the English countryside could make a good living by knitting stuff in their house or whatever the hell they were doing. And suddenly, this thing was like 170 times more efficient than some housewife and then they're smashing the factory. They think that by being violent or releasing propaganda, I think they know that the game is up and they're just trying to push it off as long as they can so that they can hold on. They can get a position in this new system and pretend like they're not and just keep the price low so they can sell as much of the old crap like banks and stocks and gets as much of the new stuff as possible. So yeah, I agree with you. It's inevitable. I forget what movie or what science fiction concept it was, but there's an idea. It's Dr. who? It's the new doctor who where you can look around the room and still not see it. That it's hiding there and playing side. If it's pointed out to you, be like, oh, that blue ball right there. But otherwise, you can't see it. And I think that's what it's like for Bitcoin. They can't see how useful it is, how it's like a Swiss army knife, how it uses all these different tools together, how it's unbreakable in all these different ways. And the more you try to break it, the more it responds and the more it adapts and they can't understand that. And once again, their jobs, their lifestyle, their entire history, everything that they've ever known demands this system much, much exist. And let's think about the music producers. Think about the people in the middle of this thing when music was a big deal. We were selling lots of albums or calling radio stations to get the album on the air. They thought that system would go on forever too. You thought you would be a banker all of your life. That might not be the case. And yes, they're in shock, they're in denial, they're fighting it, they're blockchaining it. All these different things. Some are adapting. They're like, maybe we can run our business on Bitcoin or get some high frequency trading or get any of that stuff in there. But again, it doesn't matter. It's inevitable. It's not that I'm I'm not making it inevitable. I'm not declaring it. So I'm saying that it simply is. I'm not saying that I like that or that I'm against it or my favorite like sound money is here. Bitcoin is here. It's anonymously created. It's being mined in a unknown decentralized essentially, not perfect, but getting better manner. And it won't go away. So yeah, you have to adapt to it or you have to be into Nile of it. And you have to see how long that's going to go. I know a lot of people said, Oh, I'm not going to get a computer. I'm just going to wait and I'm going to die instead. And if you're not going to get Bitcoin and you're just going to wait and you're going to die instead, that's fine. But that's a very dark and sad choice. And a time is running out for you to get Bitcoin. And even $10, $20, you have to buy a whole coin. You can just get in on this and learn how to use it like email in 1995. We didn't have anyone to email. Moving on to issue four. Chinese popularity contest. The Chinese government, which has banned the trading of crypto currencies, doesn't seem to mind rating them, releasing a new list of crypto ratings by CCID research. China's Ministry of Industry and Informational Technology. As usual, with information released by the People's Republic of China, the list can be taken entirely at faced value and trusted implicitly. The list rates Ethereum first with steam and list quick behind. Bitcoin is ranked 13th, tied with Verge, which used to be called Dogecoin Dark. Gabriel D. Vine is the Chinese rating system accurate. Does Bitcoin belong 13th? You know, this brings to mind an interview that I conducted on this very channel back in the summer of 2016. It was the first future interview. I've only done a few. It was with a gentleman by the name of Vene Gupta, who was actually a project manager for the launch of Ethereum, which I got a hand into. It was a pretty big project. And I pretty much got it out on time. So I would imagine he was an excellent project manager probably. But in part three of that interview, Mr. Gupta was vehement and angry and yelling about how the Chinese mining being so concentrated for the Bitcoin ecosystem in China. The mining industry being so concentrated in China was a reflection on Bitcoin's politics. I don't know what his point was exactly. He was not very, he didn't make much sense in my opinion. But his basic point was like that. I was denying that China has a authoritarian regime because I thought that the Bitcoin mining ecosystem would re-decentralize, which doesn't follow in my opinion. He didn't really back up that opinion. And I wonder what he thinks now that China just absolutely loves Ethereum. Maybe he is insulted. He thinks it's an attack. Or maybe he loves it because he is himself a Maoist by his own admission. So I think this is total bullshit. Can Ethereum just say no to that? Can't they just say no China? We don't want your love and send it back. You know, Vitalik Buterin, what you might call the poster child for Ethereum, the originator, had actual meetings with Vladimir Putin. So I'm a little confused about Gupta, who says he's a Maoist, but then he says China is authoritarian. And then the guy that he worked with to launch the system is openly meeting with an oligarch over in Russia, which I don't know if that's, I guess that's okay, but if you're, I don't know, it doesn't make much sense to me. I'm not sure I'm ready to go completely down the Gupta rabbit hole, but I will agree that we have a little bit of a William Gibson type situation going on where China mining Bitcoin early, making BitMain into a $4 billion company could affect the entire future of the world. I don't know if BitMain becomes Teshir Asproul and that they start doing artificial intelligence, like they said they want to. They want to make Bitcoin miners, but for artificial intelligence tasks, like a cloud of AI miners, I don't know more than that, but it could really change things. $4 billion, the investments they're making now into other crypto companies. I don't know what to think about it, but there's a lot of money there. There's a lot of things and that could have been American money. Americans could have mined it, they could have gotten energy deals, we have Hoover dams, Canada could have gotten it, Iceland could have gotten it, a lot of other countries could have jumped on this, but China had whatever it was to make it work. That's a good side point, we didn't even bring up in the energy discussion, which is that the Bitcoin mining industry is very quickly going very sustainable energies. Unlike the banks and financial financial finance, I guess some of Manhattan gets energy from Niagara or whatever, but Bitcoin is an incredible resource for energy producers because they can have miners come in and utilize this extra energy that would totally go to waste otherwise. Instead, it's securing the most secure, decentralized, useful money system created ever. They also said with a Canada situation, instead of storing the power in batteries, which are scarce, you could mine Bitcoin at the hydro source, store the money in Bitcoin, now the electricity has become money. But let's get Andy Hoffman in here. What do you think about all this China and the theory? Well, first of all, there's this kind of common knowledge that China is going to take over the world and be like the next great superpower. But with each passing day, I just have downgrade my opinion of them and see them as still almost a bumbling, Cuban style, communist country that just is getting in their own way, especially now that you got people like Trump that are really challenging them and the things that they've been doing. Just because they own a lot of our debt, that doesn't mean they're going to the world. Then when it comes to the decisions that they've made in Bitcoin, which is potentially the future of money, the future of so many things, is just like they are shooting themselves in the foot, they're banning exchanges. We're going to stop giving subsidies to miners. Do they not realize that right next door to them or Japan and Korea, which are like the two most Bitcoin, savvy nations in the world and may very well be acquiring it, especially the Japanese? They are just unbelievable the way that they act and the stupid things that they say and do at a time where they could take control. They should know better because clearly their government has a very good idea of what Bitcoin is and how it works. As for what we're talking about here, this rating, rating Ethereum, the best blockchain, even though it's had all these problems. Bitcoin number 13, which is, I don't think it's a coincidence, the unlucky 13 that they picked that one. There's a theme here. The theme of this whole show today has been that in this time of this law of weakness and prices where people are not interested. All the propaganda is coming out. We talk about the energy. Everyone's out again with the cost too much energy. I said it's like the you can't eat gold and the blockchain. Everyone's talking about the blockchain. That's so great just because they're just attacking Bitcoin and pretending that there's other stuff out there when there isn't. But to me, this one, this rating Ethereum number one and steam number two and Bitcoin number 13. This is like take 1984 and Atlas shrugged and V for Vendetta and what was it? That movie Brazil and putting them all together into the most iNane, Asinine thing ever. This is like a government of a big country telling everyone that the only blockchain is the 13th best. This is absolutely unbelievable that anyone could read this and take anything that China says seriously. If you were in Ethereum booster, would you be bragging about this? Would you be going around saying China says Ethereum is the best or steam or list? Are any of these smaller coins? This is big great news for you, right? Yeah. By the good for steam, I continue to be a supporter of steam because I think it's one of the few ways that you know, you're talking about in the music industry, it's impossible to get paid anymore. Well, I'm in the blogging industry. It's very hard to get paid. Steam is one of the few ways that people can put out content and actually get paid for it. So I'm not sure how to rate their blockchain, but I do think that it's useful. Especially when you have some of these corporate titans like Google demonetizing, people for trying to put out content, I think it's great that there's an alternative out there. I doubt that it's the number two blockchain compared to number 13 Bitcoin. Andy, apparently you haven't checked out tones, coverage of steams, white paper from a couple of years ago. He very, very extensively noted what a fucking scam that is. So you might want to have a look at that. I realize it's like a greater fool theory. No, but I'm not talking about buying it. I don't buy steam, but I can get paid by creating content. You are giving your effort and labor and donating that time and labor to their block to that project and encouraging people by giving your excellent content to that system, encouraging other people to lose their money on this horrible scam. And also by making the founders nine to one on every token that's created. But I'm not telling people to buy steam. It's like with Adam Maister said from the beginning, he's going to tell me about it. Don't buy it. I earn it. I mean, once again, you are donating your labor, which is even more valuable than buying it in my opinion, because I think you're an excellent media creator. Yeah, well, what I'm finding is that it's not as valuable content anywhere. And it's the same thing with the music industry. People have to go with the times. But again, I'm not endorsing. I never endorse buying altcoins. I do believe that they're here to stay. And there some of them are going to play a role in the future. But as far as I don't look at it, you know, this capital is out there. If people want to buy stuff, that's their prerogative. I just know that it serves a useful purpose in this very few altcoins. I shouldn't say, okay, there's very few blockchain project that's sort of any purpose at all. And this is one of them that does. But I'm not talking about, yes, I understand the founders printed themself money and they can hand it out to people. But that's no different than the Ethereum and all these other ones. So I'm not endorsing anything. At least, see, at least created a whole bunch of long form content. If you like long form content, if you like blog entries as an ICO or a blockchain or whatever, a greater fool theory, whatever it may be, it did create this content. So it's kind of like if the book was created from this process, but you still really like the book, you know, somehow we have to create the art. Yeah, again, again, I'm it's it's too different. I'm not talking about the cryptocurrency steam. I'm talking about the platform steam it, I think is great. That's all two different things. I think it's part of it's part of a larger philosophical issue where whether or not you can be a part of something without promoting it or whether by being a part of something you are promoting it, I think that's really what we're talking about. There's different levels to that tone has his own level. Gabriel has his own level and he and I have our levels. Right. Well, it's it's the same thing with like B-Rodium, right? I got it for free. Hasn't started trading it. I like it. People said get mad at me. How could you like it? It's an all-coin. Well, for one, I actually like the concept behind it, but the fact is I am part of it. So should I hate it? What should I do? I mean, I hated B-Cash, got rid of that quickly. This I don't even have it yet. Like it's it hasn't even started trading, but like you said, there's, you know, I'm not telling anyone to buy anything. I'm just saying my view of what steam that steam it does and there's nothing to do with the value of the steam currency, which I have no opinion on. All right. Let's move on to the exit question, which is a different topic altogether. The Chinese government are also rating their people using a Facebook like app to track their activities on social networks, as well as in the real world using facial recognition. To many, the program is simply an or well-earn nightmare, but from another perspective, perhaps the Chinese are simply trying to teach citizenship and good manners to their people, although in a harsh and perhaps corrosive way. However, the technology remains agnostic. Will the same be tried here? Will we eventually be tracked and rated by our app? Our friend and the I in the sky go to Gabriel D. Vaughn. That is a very thought-provoking paragraph there. I was reading along. I got the script before the show. Very nice. You know, I don't buy the idea that they're trying to teach citizenship in good manners. This is obviously an or well-earn nightmare. It's just straight up. Will we eventually be tracked and rated by an app? That is a difficult question. I actually have explored that a little bit on my blog a few years ago. I do think that in some cases or in a lot of cases, we might have a situation where surveillance becomes so totally ubiquitous that it's unavoidable. In other words, floating cameras just everywhere to the point where you just can't hide anything. That's not even to mention the sort of woo-woo crazy stuff, like remote viewing and all these type of things that are kind of hidden from the public. Most people don't believe in it. People believe that I think it's propaganda that it doesn't exist. But actually, I think all of our minds are connected to the whole. We can actually access that stuff, which means that once again, with enough skill, such a person or maybe everybody will be telepathic and stuff. There won't even be such a thing as privacy anymore. In which case, we wouldn't have as much in the way of property and things. That would be maybe something moving toward a star-check world. But on the other hand, I think that you can also develop blocking where you can't read my mind anymore. I've got a fairytale field around me or a block of force or whatever I can cast a magic spell or whatever it is in your machines can't see me anymore. I think that's maybe more where we're heading, where surveillance and anti-surveillance are both ubiquitous. There's a constant fight for information. As we have seen throughout the later half of the 20th century and into our century, the value of information as we go, as we transition from the industrial age into the information age, the value goes up and up and up. Now, we even have money that's just made out of information technically speaking. I think that that will be true in even more literal sense in the future. However, I believe that this process of extremely powerful lava lamps, now extremely powerful technologies coming into the hands of individuals more and more. We're 3D printing guns, then we'll be able to 3D print all sorts of crazy stuff from the web that we're going to trade with each other and be able to print up the most incredible weapons and then everybody will be making all these armor and defensive things to protect against the weapons, just like we protect against the surveillance. I think that what that's going to mean is that the information wants to flow and the secrets get out and the ability to keep secrets in large, large organizations like governments is going to crumble and so we won't have surveillance states anymore. It'll just be the surveillance society and everybody will be fighting for you, fighting each other for information and cooperating each other on information just like we do now with collaborative projects. And I think that's really the direction where we're good to go because we don't, we won't have coercive paradigms to shunt us into forced behaviors. We're going to have voluntary interaction. It's going to be far more stuff like that. There will still be skirmishes and there will be fights and things, but I think we're going to have a much more of a network society as David Orbán calls it. And we're all going to be, we are going to have those type of ratings things. Some people will opt out, some people, you know, you'll need a reputation to participate in certain systems like, for example, a decentralized Uber, things like that. So that's my general thought. I think by the mid-century, we're going to have a world like this where we're going to have micro sort of villages. And at the biggest, you'll have like a city state, will be the largest sort of government, what we think of as a government now, but even those won't have the same power because it'll be so easy to opt in and opt out that they will be at the mercy of the citizens, not the other way around. Well, I do want to say first that I don't think you need telepathy to destroy privacy. It'll happen on its own. And I do fear the world becoming like minority report where I walked around and there was these ads popping in at him and the ads all knew who he was and they knew what he bought and they knew how to sell to him. And like Gabriel is saying, you might need some kind of portable fair-day cage to carry around with you to keep these signals out while they're going to try to break in and back and forth this constant struggle for privacy. It needs to, it needs to be too sided though. A few years ago, everyone was ready to give up their privacy. They were all post privacy. They were on Facebook and they didn't care. Now people are starting to realize what they're giving away and that it does have a value and that Facebook and Google took that value and didn't, you know, gave you back the ability to look at your stuff but not much else. But on the Chinese government thing, I want to remind you, I try to see it from their perspective. If you have a bunch of people spitting on the street because they're farmers and they came to the city and they don't know any better and the spitting is causing a major health problem and you and as a government need to stop them from spitting and you've got this app where you can reward people who don't spit and you can punish people that do and you can use their social network to punish people who are friends with spitters and you can ostracize them and you can improve your society. I know it sounds a bit absurd but maybe it improves your society. I don't know that. I don't know how to manage a large scale society from the top down. I presume that the Chinese are trying which is why they have this kind of tool. I think that's the reason why they have it but I could be wrong on that too. Let's go to Andy Hoffman. Your perspective on the Chinese government there. Facebook like social media tool. Well it's just like the movie that I mean horrible movie The Circle, the one with Tom Hanks. It's a great book. It's a great book but a horrible movie read the book. Yeah it was a horrible movie but that's the whole point that they see into everything in your life and of course in Manard and Report they even have I forgot that these telepaths that can see what you're going to do in Punishu for what you are going to do in the future. Look of course the world is going to be more surveillance. The whole NSA thing and Snowden and all that. It's only going to get worse but the beauty of it is that Bitcoin is kind of like the antidote to it. It's their their kryptonite especially because you know we talk about now I mean yeah it doesn't have much privacy but it will. It's starting with the Lightning Network and eventually it'll take all the best privacy features from all the privacy coins because as the governments try to surveil more the cryptocurrencies will be able to fight them back even more and eventually this whole decentralized revolution is going to make it harder and harder for governments to do that so that you know that where once the future was thought to be or well in as it turns out it's going to be a lot more decentralized and let's see how long it'll take but Bitcoin is really the reason that all this time changed like it's like you know you go back in time and like Star Trek and you do one thing and it changes the whole future well Bitcoin is changing the future from centralized to decentralized so a lot of those evil visions are not going to come to pass because of Bitcoin and all of the cryptocurrency revolution that comes with it it's very exciting it'll take a long time but it will definitely happen that way just it's just the how and when. The nightmare is that it's worst right now this is the the Orwellian nightmare you know like you said yeah I totally agree with Andy I'm very well said Snowden and all this this is the Orwellian nightmare we're in the worst of it it's gonna go just for a few more years until Bitcoin takes it out and I think it's a fitting image to end on I'm kind of picturing the Macintosh commercial where she throws that flame at the screen and that could have been Bitcoin that she was throwing not just the Macintosh so let's go to predictions or a story of the week Andy do you have anything important happened this week anything we didn't talk about go ahead oh my god I forgot that you do the story of the week do I have a story my head is spinning yeah I see if Gabriel's ready too yeah one more chance I won't say a story but I will say that I want it to people's heads when they hear all kinds of fun all kinds of stories and issues and zero-edge that it is a fact that the Mt. Gox trustee is a major player in the markets right now so a lot of times when you're seeing price movements they have a lot to do with what he's doing or not doing and and if you do by the way see for instance the price seeing support around here as we've seen right now of course that could change anytime you'll realize that it's institutions that are calling this guy out because this is going to end this year this lawsuit is going to end sometime in the next let's call it six to nine months and when it does we will see what the low of Bitcoin is because I think that more and more people realize what an important issue this is right now all right Gabriel D. Vaughan prediction or story of the week my story I you know I haven't been the show for a while so I want to just catch up with everybody I you know I've talked a lot about Cliff High he's sort of what you might call an alchemist in a way he's like you know uses of these algorithms but it's very subjective and he puts together these reports and it's hard to say whether there's that much value in it but I think he's a really interesting guy and he made a prediction you know he might take issue with the calling at a prediction but he did say that the price of 13,888 dollars per Bitcoin was in his data for February and not only was it below that but it fell below that afterward so you know I just like to call he made a string of insanely accurate price predictions in Bitcoin extremely impressive for about two years straight and that was a huge miss as it was in his data for an entire year or something on more and I will say that that the exact center point of the bottom of the the recent bottom that we had I guess that was in March or something the double bottom at 6,000 something and the top the exact halfway point is pretty much exactly 13,88 something so that's interesting but it was I would definitely call that a miss a huge miss on Cliff High's part so watch out with your with your psychics I always like all the eights it's good to see something with a lot of eight and I just wanted to remind everyone that if you'd like you could join the World Crypto Network Patreon we've got a new Patreon account we've got 11 patrons supporting us with $50 a month so you can go ahead and pledge whatever you want to help support this show and also you could donate to the QR code on your screen with Bitcoin that's right we take Bitcoin it's the Bitcoin group so thanks so much for watching go Knights Las Vegas golden Knights and until next time bye bye wait wait