The Bitcoin Group, the American original. For over the last 10 seconds, the sharpest sitatoshis, the best Bitcoin's, the hardest cryptocurrency talk. We'd like to welcome our panelists, Max Hillivran from towardsliberty.com. What's up guys? How are you doing? Shem Booth, Spain, musician and artist. Believe everything Crusades night is true. And I'm Thomas Hunt from the World Crypto Network, moving on to issue one. Bitcoin price dips below 6,000. The Bitcoin downtrend continued this week with the fledgling cryptocurrency falling below $6,000 for the third time in 2018. In notorious Bitcoin bull, Tom Lee from Fundstrat, argued recently that the futures markets deployed by CBOE have suppressed price growth, while others say that Bitcoin is simply in a bear market. The media, as usual, is saying that Bitcoin is dead and trying to bury it in favor of more bank-friendly altcoins. Max Hillivran, your thoughts on the recent Bitcoin price dip. Guys, price really doesn't matter. It's the most boring part in Bitcoin. Yes, it goes up, then it goes down again, but hey, we're not in it for the price. We are in it because this is our pretty much only chance to get sound money, to get a free money onto this world. And this will bring so much prosperity in the long run. Guys, we have shot up to 20,000. Yes, we have. But that was in a month because there was just too much hype. If you blank out December and January, we are still up. Come on, we had we're at 1,000 bucks at the beginning of 2017. That's still a factor of six and one and a half years. That is incredible. If you have been in this for longer than those past six months, then you're good. And if you bought it on the top, well, you bought it on the top. But don't sell now because then you bought high and you sold low and then you are the loser. Now, if you buy high, you hodl. That's what hodl is all about. Maybe I could get some of those pills that would help me forget December and January. Shem Booth Spain. Hey. Wow. No, that was fantastic comment there, Max. Yeah, I mean, obviously, price is down from December, right? But as Max said, just stand back a bit. Look at the bigger picture. There is a compression of price. Now, in regards to the CBOE, I do think there's an element of interaction in the price from CBOE's and the CME's. And I think the reason why that is is because of the side-click nature of it means that there's money in and of flowing. And that's actually put in an imprint in the impression on the price of the moment. But I believe where we're in an early part of the market, and this is able to affect the market at the moment, there's still a number of forces that hodlers and people holding crypto can do just holding as a very powerful thing and probably the most powerful thing. And to begin with, I think, pitch-late losses. I would say also that when market, this was my thought, when markets are like this, either you're shorting or hodling because I know, obviously, if you're very advanced trader, you'd be scalping and making profit up and down through the course of these movements. But as we know, Bitcoin suddenly can go up $1,000 as it kind of $1,000 down. Well, usually up, hopefully. But I think there is an element where it would be naive not to say. And you can see that I saw a number of posts and articles and research where people were looking at the kind of impression it was having on price. So I don't think it's necessary about that because when you actually look at historically futures with gold, uranium and silver, the prices continue to go up after. In fact, it's more investment, more stably. And we all know, and we're all counting the days. This is a form of adoption that when the CME come on in December, it was causing a lot of positive speculation and income and influx of capital into crypto and specifically Bitcoin. And I think a lot of that capital has been lost since December unless they're hodlers. And I really resonate with Max's message there because there's so many people perhaps confused by this and scared and so can up the fund. And it's nothing to this is what we want. We want more business and more infrastructure coming and it is day by day. I mean, we've had fantastic developments. We know the fundamentals are stronger and now than they were before in November. And we know this bit of more technology, there's more apps, there's more money flowing, there's more people holding, there's more people in the crypto scene than there was in November. So even if the price goes down anymore, it brings enough away for fuses in. So it's actually Bitcoin is so highly resilient. But even when the price goes down, it brings in a flood of more cash. So I think if you're one of charts and one of looking at the charts, you can see, and there's a number of posts about this, that the compression that we've seen since December on the price and that kind of waves down, you can kind of see the waves if you zoom out a little bit, this four, five, and then they break down into more sub-fractal waves in a succession of them. If we track the follow-up of coins, we see that people are exhausted, they're exhausted in their supplies from since December. So we are in a way. The sentiment of the market, you got to, remember people in wisdom of crypto, you got to be a bit emotionally detached from notions of price and stuff. Because once you're in using Bitcoin, and one Bitcoin is still one Bitcoin, once the Toshis still wants the Toshis, and people that are using crypto in the crypto sphere itself, they're actually kind of insulated from all this price when they're actually fully absorbed in there. So if you're still going to offer in there and you're kind of, oh no, I'm losing money on price and purely speculation, you ain't digging deep enough in and seeing the real magic and beauty of Bitcoin. Thank you Thomas. Well, the first thing I'd say is that when we set out to replace the US dollar with Bitcoin or cryptocurrency, you didn't think it would be easy, did you? You thought it would just go up the whole time and everyone would make money and just laugh about it the whole time. I remember in 2014 or whatever it was when the price went down and everyone stopped talking about it and everyone stopped working on it, except they didn't. They kept working on it and some of us kept talking about it. And I think this will be just like that. I don't know how long it's going to go on for, but I think we need to dig in and try to weather the storm, put up the storm shutters or whatever it is. And I do think the CBOE is betting against us. I think they saw Bitcoin rising. They saw the previous price rise and they said, we're going to make us some money, right? We're going to fleece these bastards. And they did. They took our money. But what we need to do is we need to make them lose their money. We need a Bitcoin ETF. We need more buyers. If there were more buyers for Bitcoin, these people that are shorting it and driving it down would eventually lose all their money and get wrecked. So that's what we need. I don't know how to cause that. They are talking again about the possibilities of an ETF, not with a Winkelvi this time. Remember the previous Winkelvi ETF. It wasn't so much that they said no to the ETF. They said no, you can't hold it. Be the one who says the price and be the one who runs the ETF. There was just too many Winkelvi in that bag. So we'll see how that goes. And again, maybe another country could approve an ETF. It doesn't have to be the US. We're also US focused here, but it seems possible to me an ETF could exist in London or anywhere else in the world. So let's keep an eye on it and let's see how it goes. Let's move on to the exit question. How much longer can this bear market continue? Six weeks, six months, or longer? Max Hilabrand. Well, guys, the past is a memory and the future is just an illusion. There is only the here and now. And don't cling onto the past and don't try to predict the future based out of the past. Yes, we might have gone down in the past, but that's a memory. And how long will it last until we go up? Who knows? It's an illusion. We are in the here and now. But what is happening in the here and now? Well, Cypherpungs ride coat and they ride pretty good one. And the technological immense innovation that we have in Bitcoin, well, sweep everything out of its way. So come on, stay present. Sham Booth, Spain. So just say that question again, buddy. How much longer can the bear market continue? Well, it could end tomorrow. It could end it. We've got 3.5 million HODLAs in Bitcoin. If every one of those was to buy $50 or 50 pounds or whatever of Bitcoin, then we would probably make move the market. The problem is, is that crypto and Bitcoin, this is a bit of a bash on the crypto scene, it's too moved by speculation. In people's minds have changed too much by the news. And they're not thinking smart about accumulating and consolidating and acquiring wealth. And I think that's the problem. I think at the moment, there's a lot of sentiment. You can run the dust, a lot of cryptos are losing, perhaps the smart money, what's that smart money do? It's probably accumulating in waves as it's going down. So they're probably selling it as well. So you're either too camped, you're either betting against Bitcoin. I don't know why people want to do that. Why would you want to bet against something that's going to make the world absolutely amazing and transform the next generation of human commerce? It's just seemed like an armament. Why would you want to centralize Coin with a CEO and all that jazz running it? Bitcoin is the true free, open internet, the ethos of the internet of money. And I feel so strongly about it because it's very easy to see the tweets here, crypto tweet or whatnot. There's just a lot of fards, there's a lot of people, shilling coins. That was it. I won't read it out. I won't say the name in shaman, but it is an ICO that I've got in my hand. It's horrible people. Look at me holding up. But let me just read out. So this is the kind of bananas that people are getting. Oh yeah. 13 million US dollars, 100 million valuation. But it's okay people. There's enough tokens for everyone. There's 350 billion of them. No, trillion, sorry. And don't worry. They said that they've got until 2020, until 2030, we will build it services. So there's plenty of time to make that crypto. So that's the kind of bananas. Someone's valuing their bloody ICO as a 100 billion or whatever. And it's just bananas or 100 million. They're not, Bitcoin is so solid. I do not understand the fudge, the fear. Maybe I'm looking at a different way. Maybe people need to come over to my universe because the technological wonder pinnets are so strong and there's so much great new progression. We're going to mention some of it in a minute, Thomas, I know, with Venezuela. But there's a new implementation of lightning coming out. And just the fact speak for themselves. Bitcoin is here to change. It's already changing the world. The problem is, there's a war for it, quite frankly, ladies and gentlemen. And the war is the war of information. And it says the terminator behind me. Information to control what you think, what you see. And that's it. By an ICO, by this crypto, by that crypto. But what about Bitcoin? What about the thing that's here to actually and is transforming money and commerce and business and the very fabric of it and helping humanity? So really just, I think everyone's got to be a lot more passionate about it and understand the fundamentals. Got to go and read the white paper again. And you remember Bitcoin is the biggest crypto of consensus. It's people that have come together that have agreed that that is a currency that they can use between themselves, between humanity. So ladies and gentlemen, I think that's the strongest, you know, absolute, strong fundamental based on fact that anyone can go out and view. And I know I just think it's the safest thousand dollars you can stack on a crypto, smack it on Bitcoin even when the price is going down. In fact, catch the knife on the way down, boys and girls. And good luck to you. Yeah, I think it could be six months. I don't know when to start the six months though. I think we've seen some pain, but we could use more pain. I do like this idea that's going around that maybe if we go low enough, it will shake out some of the alt coins. That's an interesting idea. Yeah, we're hoping that Thomas, you just said that that's so true. You know, Bitcoin's still going to work at $50, buddy. There ain't a lot of these ICOs and cryptos wants the fund in dries up and you know, they can't reprint them and all that stuff. You'll see it go down and they will go down in flames. The other thing I'd like to see is I'd like to see them fight with each other. A lot of people know that all these Ethereum startups are holding a lot of Ethereum. If they lose their faith in Ethereum, they're going to sell it all. Or if they're like EOS, a directly competing project against Ethereum that happens to hold a lot of Ethereum because they did their crowd sale in Ethereum, they're in a position to wreck the other project. I would really like to see them start in fighting against each other and just see Bitcoin rise up out of there. But it's time to move on to issue two. Facebook reverses. As predicted on this show, Facebook's overzealous ban of cryptocurrency advertising was brief and mistaken. Facebook has now reversed the ban at least on Bitcoin and altcoins with ICO ads still banned. Recently, they announced that they had created a special task force to study cryptocurrency with many speculating that the social media giant might simply roll their own. Meanwhile, rumors abound that Facebook may be looking for their own cryptocurrency acquisition. Will Facebook buy Coinbase? Shem Booth Spain is this predictable reversal? Good enough news for Bitcoin to turn around the bear market and what about Coinbase? Yeah, this is great news, actually. This is actually a bullish trend in a bad wrapping negative news. Obviously, Facebook and Google and a number of the companies out there that were the centralized service providers of banned crypto advertising, obviously because of the shady regulatory nature and unclear perspective that none of these companies are kind of sure as big BMFs and big name household brands that they don't really want to tread that nasty course around. They've started. Obviously, the reason this is a bullish signal is because one, they get law and revenue and they're seeing a missing element of their revenue, which is obvious if you think about the amount of revenue because I myself can advertise them and market and we get a lot of clients because of Facebook and Google, so we're always quite happy about that. The point is, is that essentially by them doing a U-turn, that's a soft admission that there is a reality to crypto and specifically Bitcoin. The question is, is Facebook going to want to come against Bitcoin? I don't know. I don't know what Mark Zuckerberg knows. Maybe he's got Bitcoin and he's probably like us watching the show every Friday, you know, opinion. I love those guys, especially Shem's new album. But now, I don't know, if we could, if we knew that, we could perhaps reach out to them and say, look, you guys experiment in the right way with these technologies. The last thing I'd want to see is the centralised Facebook coin. I think that will go against everything. It would be really bad PR from it, be a massive end goal and it's so difficult to keep a cryptocurrency going for 12 months, let alone 12 years as Bitcoin has and it's become stronger and more resilient as it has over time. So I can't see Facebook trying to do that. If they do that, that would be so stupid. If they did do that, I would just think, oh my God, you know, what are you guys thinking? You know, because they could appropriate a range of crappy shit coins, all coins out there that could do the infrastructure and all it would be is glorified middleware. The fact that Facebook is supposed to be private goes against the whole ideology of a distributed open ledger because that's sharing information. So if they're after making a centralised chain or a distributed ledger, they probably got their own technology that's middleware that's much better anyway and I couldn't see a matchy doing that. I suppose what they're looking for is an internal payment mechanism. If they were to consider that, they could just turn Bitcoin on and they would have a global payment system within Bitcoin that would help so many people around the world because people, communities Africa could send money using Bitcoin, all the infrastructures available or ready marks, I could book if you're listening. And all you've got to do is just implement the code into Facebook and I'm sure, you know, someone could do a call about that if you ask them nicely. Do I think that Facebook, the ban on advertising on the U-turn, is a bad thing? No, I think it's a good thing. It's a good signal in bad PR and by seeing it and with a little bit more clarity like that, you actually see that it's quite a good thing that we're moving towards adoption and Facebook has done a U-turn because what we would not want is six months down the line, Facebook increasing their pressure on crypto, advertising or crypto. And I think because Bitcoin represents the open free internet and the successor of the internet, IE, the original blockchain and the most trusted consensus currency that's around the world trusted, I believe that that's going to be more akin with the core philosophies of the founders of Facebook and Google. Now I would take the other side of this issue. I think that Facebook and a lot of other companies will have no choice but to print their own cryptocurrency. They just can't get away from it. The beauty of printing your own money and then making money off of it is just too obvious to them. And even if it goes up and it fails and Facebook coin goes away and we all go back to Bitcoin and everyone says, why do we bother with that? And the answer will be Facebook wanted to make so much money. So I think they'll really have a hard time staying away from this one. However, if they did get the Coinbase acquisition, that would lean them more towards Bitcoin. But again, Coinbase isn't just a Bitcoin company. They're a complicated company. And I don't know if Facebook needs or wants that complication. So I would say Facebook coin first, buying Coinbase, I'm not so sure about. And just a reminder to everyone at home, be sure to give us a thumbs up and a share. If you're watching right now, the thumbs up are free. That helps more people find the show. And we were talking about needing more buyers for Bitcoin. We need more viewers for this show. We need more people searching for Bitcoin. We need all of your friends in Bitcoin. So it's the time for you to tell people. Max Hillbrandt. Well, the Coinbase adoption or the Coinbase buying by Facebook, it might be good for mainstream onboarding. So we might get many, many new Bitcoiners onboard. But similar as it is with Coinbase, they were a really, really good onboarding company. But they are not a Bitcoin company. They are a centralized bank that holds your money. That's not Bitcoin. Bitcoin means run your own node, full node, and own your own private keys. And if you do not have those two things, well, then you're not a first class Bitcoin citizen. Very much. Because only then you have full control over your money. And that's what we want. We don't want low fees. We don't want good user usability. Yes, that's cool. We'd like to have that. Yeah. But what we want to have is self-ownership of our own finance and of our own money. And if that money is such an amazing good money and such an amazing sound money as Bitcoin finance, that has the freedom philosophy and the libertarian philosophy combined with the cypherpunk movements and that sort of anarchist of cyber-energy, that altogether makes Bitcoin what it is. And come on, guys, it's not Facebook. It's not Coinbase. It's really not. And it's really important that people like us that get that have to educate people. Don't send people to Coinbase. Just no longer do it because it's not a good Coinbase. It's not a good company. You know where you should put where you can send them to? Hodel Hodel. It's a decentralized exchange that is running in your browser. And with a couple clicks and a SEPA or wire transfer, you can easily get your hands in a few big clumps. The price is amazing. You have almost no slippage. No KYC required. But it's directly peer to peer and you never lose ownership over your money. And that's what it's all about, guys. Bitcoinbase, come on. All right. Exit question. That's a good point. Actually, wait, wait, wait, wait, wait. Just pull it out. There's not enough people learning about using crypto, holding crypto, transferring crypto, storing crypto safely. You know, the old cyberpunk adage goes again, isn't it? Opsack. Is your operational security good? It's known these days you've got ever sent to cyber security. You wouldn't let your children or young relatives see bad things or web. So why would you allow bad things to happen on your computer? And if you're going to become an advanced primate, ladies and gentlemen, and evolve a little bit more, then you need and manage your own money and have the gift that's actually gave. If you need to have a good operational security, and that means using it as well. So that's a bit of a cool idea, everyone. If you're still not sure and you still kind of got quit coin sitting on exchanges, get them in wallets, get them offline, learn how to do it. There's some fantastic videos out there. Really cool stuff. Once you start flying transactions around, you know, Bitcoin cash isn't that cheap to use guys. You know, once you do Bitcoin transactions, you're clocking cheaper than you are, be cash. So forget all the B cash bullshit. It's all bullshit, you know, and stick with the golden standards. You know, sound money is the biggest consensus. It's the most trusted. The most valuable is the rarest element in the universe at the moment, apart from probably, I don't know. I know that could be a good question. Leave a comment if you know something rarer than Bitcoin. In, in, in, then that and smash the like gets the subscription. We need people buying tonight. We do. How about your fucking money? Come on. I would say we have a more, we have less Bitcoin than politicians who can tell the truth. That's something scarce. But let's move on to the exit question on a scale of one to 10 with one being no chance in hell and 10 being absolute metaphysical certitude. What are the odds that Facebook will buy coin base? Shem Booth Spain. That's a bit of a strange question, really, isn't it? Because if we all tonight, before we go to bed, think of Mark Zuckerberg and say, Mark, use Bitcoin in Facebook. Use Bitcoin, please, Mark, make a world better. If enough of us might do that, maybe, just maybe, ladies and gentlemen. Oh, Mark Zuckerberg wakes up. Oh, Bitcoin inception. Danny, I've got an idea. The chances of that is like me charting how much a chocolate teapot is going to survive for a pound of lava in it, isn't it? Really, we don't know. We can only speculate. If anyone has seen any news, smash it in the comments section. If they've heard Zuckerberg send a link to it. All right, but you've got to give me a number here, Shem. What's your number? One to 10. I've got no. Because there's no clear signals from Facebook. The science tells me if he was a Bitcoiner, right, he ain't even a cryptoer. He doesn't know anything about that. He's probably going to do what Bill Gates did and buy the wrong thing, put a billion in it, and it won't still want to be as good as Wikipedia. So it don't matter what he does. Because Bitcoin's had fucking 12 years. No one's got 12 years under their belt. There's just too much development on Bitcoin. Is it behemoth, technologically speaking? No other coin. Don't go give me big blocks or fucking, you know, paintments from Fakes at Oshien or that jazz. And you know, Lightning Network, current capacity process is 3.3 million transactions per second with a current node. So that's at the moment, current fucking speeds. There's no coin that can be that. We are in the fast lane, ladies and gentlemen, and the all coins are in the rear view mirror. And we're still the fifth biggest currency in the world. Yeah, round the applause for Bitcoin. How long will ladies and gentlemen before we're number two? It's not about the front in the dollar and causing chaos and burning houses down. Don't need to do that. It's all about making the world better. Humanity in space. We all live in ecological, beautiful houses and you know, listen to Bob Dylan all the time. Some of them like that. But you know, just have a bit of imagination. I would say five Thomas is a 50 50. Very nice. We got a number out of them. Let's go to Max. Your number, what are the odds that Facebook will buy coin base? Well, Facebook sucks, CoinBase sucks. It's a match made in heaven, right? So I think it's a seven. It might be, it might not. Honestly, it's not really that important because after all, those are both not Bitcoin companies. And we only care about Bitcoin companies. And yes, Facebook might also try to issue their own coin. Well, yeah, that's the entire point. Now we have energy and money. This is what we're doing here. If you want to create your own money, do it. Go for it. Now we can because now we have the freedom to do it. And that's why we are in this. Where of course we don't believe that Bitcoin will be the only currency. Absolutely not. Why? Because you can create your own currency within a few clicks. It's easy now. But the question is, can you create a good currency and making a good currency is really, really hard. And a centralized currency is by definition not a good currency. And if you don't know that, well, then you should probably read the white paper and go back to the beginning. But as soon as Facebook issues a currency, it will, by definition, be worse than Bitcoin, which is leaderless, which is sound, which is unchangeable. The unchangeability because of the decentralization is Bitcoin's strongest attribute. Because you know why? What else is unchangeable? The gold atoms and the gold nugget. You cannot change them. That's why gold is so good because it is neutral. Nobody can mess with it. And that's what we have achieved in Bitcoin. It is unchangeable. And that is the biggest strength of it. Did I hear a number? What's the odds? What's the number of acts? One more thing. It was seven. It's a match made in heaven. Seven. They both be circuit j other. Seven and five. But the answer is three. Facebook will make their own coin before they buy coin base. It's just not happening. It's because you see Jeremy tweet about it doesn't mean it's real. Moving on to issue three. Bitcoin hash rate. The Bitcoin hash rate continues to climb. And according to at least one expert, Max Keisler, the price of Bitcoin will soon follow. Do the Bitcoin miners know something that we don't know? Or do they simply have proper planning and the ability to hold for the long term on their side? Max Hillebrand is Max Keisler correct. So the Bitcoin price follow the hash rate. Oh, still muted. I should. I should. I mean myself that is a beginner mistake. Well, his name is Max. So I guess he's right. You know, because it sounds smart. No, but, but honestly, this is a really interesting point regarding hash rate. Because usually what happens in a currency is that as it increases in value, people are incentivized to produce more. And if you produce more, that means that the value of the currency will decrease because well, you have increased the money supply. And this will mean that the currency itself will draw. And this will hinder the entrance of new people into the currency. So it is a vicious cycle. It starts up with user adoption. But then because of user adoption, the value of the new money that has been produced to currency. That was the status quo in everything, even gold up to now, because now we have Bitcoin. And how does Bitcoin work? As more and more people use it, the higher its value, the higher its value, the more the miners are incentivized to turn on their mining rigs and start mining for a few bitcoins because well, they want to get their hands on them. And as they increase the hashing power, what happens? Because we have something in Bitcoin that is called the difficulty adjustment. And that is a beautiful invention. Because with a increase in mining power, the inflation rate stays the same because it gets harder and harder to mine a new Bitcoin. And this means with the increase in hashing power, not more coins are being created. But on the contrary, the system itself gets more secure and much, much more secure. And then this actually increases the value for the user to use it as its immutable database as it is. And with more people using it, the value will go keep going up. More miners are entering into the system, more hash rate, still no more coins, but more security, which means more usability, more users were hash rate. This is not a vicious cycle. This is a beautiful symbiotic cycle. And this is unique. This has never happened before. It's like a perpetual mobile. It just keeps going and going and going and going. And that's only one aspect why Bitcoin is so unstoppable. Yes, we might have a bit of mining centralization, but come on. This is such a novel innovation. I definitely agree with that, Max. It's very counterintuitive to think that the more computers that we get mining Bitcoin, we still get the same number of Bitcoins. Nobody understands that. Everybody thinks, hey, you got more gold miners working. You're going to get more gold. But like you say, the more miners, it only makes the network more secure, same number of Bitcoin produced. It's a surprising truth. Shen Booth, Spain, your thoughts on the Bitcoin hash rate. Yeah, I think a lot of people, especially in mainstream media, potentially underestimate the motivations and the kind of mindset of miners. You know, I've had friends, I've got friends that mine regularly. And yeah, you know, also a lot of love consideration is an opportunity between kind of six and 16 months ago. The mining infrastructure that's running today was decided on planned. So, you know, it's not like suddenly the price is low and all the mining hardware comes out of the truck and they go, all right, we're not turning this on. The price is down to five. OK, if anything, they're going, get the trucks loaded, come on the price. We need to get some money to pay for this. You know, so they're really, and that's the minor, like, you know, just put yourself in the position of a miner, right? Just take the delivery of like 200 other S9s or one of those Japanese new ones with the two nanometre chip or whatever, you know, that are even better than Bitmains, right? And, you know, the delivery's coming. You've got all the tech you guys ready. Everyone's right, right, come on, let's get them on done. You know, can't wait to get them blocked in, get the line itself. You're going to be mining, mining, mining. And I think the stats is a real, that hash rate is real positive. And even if the hash rate stalled, because the price went so low, because we've been to a thousand dollars before, we know that it still works. The system still works. So even if we go back down to about a thousand pounds, we've never, uh, dollars, we've never had that before, um, you know, in the history of the ecosystem. And it would be, oh my god, it's the 9 11 times 9 11. God bless. I, you know, obviously that's not a thing to joke about. And just the kind of sheer magnitude that it would be perceived by the market's sentiment, you know, the collective market sentiment. That's what we're trying to do here. People is educate your market center and sentiment viewers, listeners and lovers, because we want you to be more confident and have faith just as we see it. And everything we're discussing tonight is honest, is true. You know, we're not funded. No one's paying us for doing this because of our passion and love for this technology and what it's doing for the world, what it's done. And even if the price goes down, I don't really care really if I'm really honest. So, you know, if I'd spare money, I'd probably buy some more, you know, in fact, I would. But I ain't got no more spare money, you know. Um, so yeah, you know, and that's how bullish I am on it because of those fundamentals. And I think it's very easy, the, the main street. I don't want to say mainstream like say no to everyone, you know, but, but you got it. When collectively, the so-called market and the echoes of media, really what's going on is, you know, someone else is paid paid pre-news that's affecting you to decide your and control your, your mind of motivations and your choices on me. So, you know, if you're buying some C ICO, you've made that choice, yeah. You know, what we're talking about today on the show is by what, what, what is good to remind people what they're, what Bitcoin does. Why we're so bullish about it and why we're so passionate about is underlying technology proof at work and what it's done and why that is better than having just proof of shoes like we discussed a lot last week's show because people have been printing shoes and, you know, sound money versus easy money with safety and deen, you know, so there's a lot of actual economic and social underpinnings to these conversations. I don't subscribe to an ism or an ideology. I don't want to burn the world down. I'm normal guy, you know, and essentially, you know, I want the world to be a more beautiful person. I think that this is the current technology that's got more chance of changing the world than any protest out there that any kind of war or any kind of ballot box can do because this is changing the very structure. It's a technological innovation is changing the very structure and fabric of, of, of, of commerce for humanity globally. And it's got the potential to be a transplanted tree money system. And it very easily online. There was fantastic discussion. We was having between a couple of scientists and a couple of maximallyists or whatever you want to call them or Bitcoiners. They were talking about quantum communications. And, you know, so, so yeah, I think the potential is so bullish. People have really got to remind themselves the core value. And if you're speculating and then you've got, you've got, you're down in the, the, the fucking dregs of Bitcoin crypto, fucking consciousness, man, you know, you need to come up the scale, you know, up the scale, people up the scale of the reason we're in crypto, the reason why we're buying and holding it, the reason why we're using it existing in this new parallel financial, fucking born from the ashes of the previous crash. You know, you cannot make the history of Bitcoin up. It is potentially the greatest killer product ever developed by humanity and is innovating money, the very fabric of it. And if someone does not understand it and that does not excite them personally, they need to get back into the books, get reading again, get understanding of fundamentals and coming out of that speculation, fucking psychology into a higher, higher development, or, you know, we're advanced primates, leaders in gentlemen. Yeah. Excellent point, Jim, that the miners can't panic sell their equipment. If a palette full of miners shows up, you can't just give up. You can't just throw in the towel. You've got to plug them in. You've got to try to get some money out of them. So I think that's a lot of what's driving this mining is the economic idea. And I suppose it's a fallacy, but sometimes it works too of sunk cost. They put their money in the miners. They now have to use the miners. It doesn't matter if it's up or it's down. And hopefully if they have a good plan, if they're well capitalized, like there was that guy they were talking to. I think it was on the Bitcoin news show a couple of weeks ago. And he was a miner and they said something like they'd raised $5 million. And they were holding maybe four of it in the bank, just in case, right? And they put a million into mining and they had a lot of miners. And they were getting Bitcoin, but they were in no hurt position. They had lots and lots of money. And you got to figure your big miners, your people with your containers and your whole warehouses full of these things, they're doing all right. They can afford to keep doing this thing. And again, they've had this experience in the past where they might have kept mining through the last bear market, been able to hold a good percentage of them, maybe sell some for operating costs. But they had chance at this. And I don't think they're going to give up. Of course, on the other hand, if the hash rate did decline, like it did a few years ago, very briefly, that's something to worry about. That's something to worry about. But fortunately, there really isn't any direct competition for Bitcoin on the miners. Most of the other major coins that are competition use a different kind of hashing algorithm or a different mining software. So let's move on to the exit question with a bonus article. Exit question, Bitmain's dominance of Bitcoin continues to grow with a mega mining firm nearing 51% of all Bitcoin mining and planning a massive IPO, which is a bigger threat to Bitcoin, a 51% attack or mining centralization. Max Hillebrand. Well, that's a really interesting question, because if on the basics, a 51% attack is mining centralization, right? Because if one person controls 51% of the hashing power or one entity controls that, well, then it is pretty centralized. But the article states that Bitmain controls 42% of the hashing power. Well, not really. They produce the hardware, yes. But it's not owned by them anymore. They sold them to people. And now individual people own their own hardware and they can run pretty much whatever they want with it. So yes, Bitmain is of course a huge player in the market. But it doesn't really matter that much, because they do not have full control over each and every hashing power that they have produced. So yes and no, the centralization is here problem. But again, as with everything in Bitcoin, energy and grassroots movement is the solution. And we have the same here as well. Use the newest technology that breaks those centralized point of failures. For example, by the halong mining, by one of the G-Moll miners. Those are two amazing good miners that are not being produced by Bitmain. And especially halong is a really reputable company. And I myself got registered to buy a few because they are great. And that's all we can do. It's us individuals. We control Bitcoin. We figure that out during the user activated software. We the users have the power. It's energy. You run your own note, you hold your own keys. And hopefully you run your own miner. And if you do that, you have full ownership of your finances. And as I said earlier, that's the main goal. But further, we also need to use the newest technologies. And yes, mining pool centralization is really bad because at the current state, although the mining computers itself, that they are owned and controlled by individual miners. In the current system, the block itself, with a list of all the transactions, is being controlled by the mining pool operator. And this means that theoretically, if you control the mining, the 51% of the mining pools, and you are the one that controls the ordering of the transaction in the candidate block, then yes, you can sense transactions for a while. They will eventually go through. But yes, you could censor them. You could just ignore them. Well, we already have a solution to that. And that is called better hash. It's a new protocol that was developed by Matt Corolla, brilliant young guy and then Bitcoin core developer and great contributor. And he figured out a way that now the miners, the individual miners themselves, not only control their own hardware, but now also control their candidate block. So you as an individual miner, can now order the transactions the way that you want to. And you can include the transactions the way that you want to. So theoretically, you could make a transaction from your own account, give yourself zero transactions per, sorry, zero Satoshi's per byte transaction fees, put it into your own candidate block and keep on mining until you find it. And eventually you will get through with a zero transaction per byte, zero Satoshi per byte transaction. Now it's as, now this is possible. Now with this new technology, we even further break the mining centralization. And again, ask with everything, it's energy grassroots movement and new technologies. We really do need to break the mining centralization. I'm sure people have already forgotten about the user activated software at the whole war that we went through, but remember, they wanted those big blocks really bad. And whether it was about the technology of the big blocks or the small blocks, or if it was about the ASIC boost and the 30% performance boost seen by BitMain, they wanted it bad. And they were willing to do anything. And the user activated software, in many ways, stopped them from taking over Bitcoin, and they had to fork off into Bitcoin cash. The Shem Booth Spain, your thoughts on BitMains mining dominance. Are you still with us? Yeah, yeah. I think it's a bit of fake news that, to be honest, I mean, because the chances of them actually coordinating all those polls, they don't even have physical ownership and holding the actual miners. And I know people could go, yeah, the technique they've got is clear. They're not even going to have that monopoly still within the next year. The whole mining landscape is going to be completely different by next year to 18 months. Just the amount of companies we've got MVIDIO, we've got MD. That's not, I'm not even mentioning the Japanese and South Korean firms that want to come into crypto that already built their own chips. The Japanese, two-minute nanometer chip that was launched, you have to Google it, folks, I don't know the name of my chance. But the point is, is that there's loads of competition. BitMains, these are numbered, frankly. The reason why is because one, they're moving over to AI, and they're doing those chips and they realize that now, they've made that $2 billion profit they did last year or whatever from that. There's all these other companies that are much better at building chips, much bigger and much more experienced building chips, and they've come along to build mining chips. And I think we're going to see very, very different landscape. So, it's not even news, it's 51. That's someone who's just picked up on it and fucking, they've got the ability to be able to make an article on some news site. But my news is better than that. You know what I mean? And hit the like everyone and retweet it, because we need that out there for the masses. So, that isn't news, because they don't actually own physical those miners, too, there's too many other miners coming to market three. We know for chance, for fact, that they could no way coordinate all of those mining pools. There's no way they could do that. And even if they did, even if they did pull it off, they could only do 51% tax for around seven to eight minutes before everyone would just, if I can ban the destination, the original destination. No, the origin of the bad rocks. So, you know, technologically, they can't do it. One is no news. It's another example, actually, of no news that people will be aware of. It's fud, it's fud wrapped up in non-tech soundness. You know, if the venture was around, it'd go, what is this? I don't understand. It's a piece of fake news, written on a digital piece of paper that's changed your mind. You should buy Bitcoin. I'm in order to venture. That's what he would say. That's the reality of that article. I'm sorry, Thomas. It's always worth reminding that the 51% attack isn't like a corporation. In a corporation, you get 51%, you get to take it over, you get to write the rules, you get to run the board. That's not the way in Bitcoin. Like Shem was saying, you get to have your own chain for a limited amount of time. So if it's worth it to use all of your miners for that, and I even believe that we could find out which miners did this, maybe ban them from the network if they did pull off a 51% attack. So I think there'd be punishment. I think you might lose some of your miners or your ability to mine. And again, if you've got these miners, they're just printing money for you. Why would you kill the goose that laid the golden egg? And I just can't see them doing that. But the media loves to talk about it because 51% attack sound really scary. And they love to scare you. So thanks so much to everybody who's been giving us thumbs up and shares. We have over 200 live viewers now, which is really good. Did you know the World Crypto Network has a podcast? That's right. Search for the World Crypto Network on iTunes. And you can listen to Adam Meister, JW Weatherman, Andy Hoffman, and much, much more on the World Crypto Network podcast. Check it out today. Issue four, DOJ Sting Operation. The Department of Justice announced Tuesday that they had arrested 35 people and seized more than $23.6 million in assets, including 2,000 Bitcoin, which made up the bulk of the seized assets. In previous raids, the DOJ had sought to shut down the drug marketplaces themselves. But now they have changed tactics going after the drug dealers directly. Will the DOJ be successful with their new tactics? Or are they simply picking off weak hands, seeking to sell their profits immediately, leading to their simple exposure and arrest? Shem Booth Span. Well, you might as well keep that up, actually. Thomas, if anyone can look at it while we're talking, actually can you do that? Can you do that? Well, my comment is, if you're doing legal things or legal things, right? And I don't condone, obviously, breaking the law, ladies and gentlemen, we should be living in a beautiful world to get for nicely, right? But having said that, right? You know, for me, the legal and law apparatus come into crypto. It's actually a police signal, because that's what we want. We want the... We want it so that it's mainstream. We want it so people use them Bitcoin across the world. And people, if you go and steal Thomas Bitcoin, or you use Bitcoin to keep money that's legally obtained, that is still illegal, right? And against the moral, ethical code, blah, blah, blah, that's the thing, right? So I've got no sympathy that some dudes got stung, that were knocking out gear or drugs or whatever. And they were keeping the money that that's legal and that's not good, and I would not recommend that, ladies and gentlemen, and that's against the idea. And so they found some Bitcoin. It could have been dollars. You know, there's more dollars used for drugs than there is ever Bitcoin. So that's the reality there, ladies and gentlemen. This is another example where you've got a... Perhaps look at the news with a little bit more... Um... Um... Kind of pilferies of veneer. Well, I think we should actually kind of swing the... God topic to that angle, Thomas, because we could take any of these articles today and discuss it in that way. And I think by teaching viewers how to look at things, we're going to enable them to be able to see through the shit, if that makes sense. Because that's actually a pretty signal. We want safety and crypto. There's people that have been, you know, done local coins and got raided or whatever. You know, the stories of that stuff, right? And that's bad, you know? And so we want the safety and we want legal effort. People shouldn't be able to go and create a Ponzi scheme and use Bitcoin. You know, you're using Bitcoin negatively, okay? And, you know, and that's bad. Okay, so there's a moral, you know, ethical point there, people, you know, I know people go, Roch, you, but I always different. I did say a couple of years ago when it was all discussed in that and you can find the show. And my opinion was roughly the same. You know, we've just, we've had done a video, Thomas, on law and drugs. Because that's different, you know? And we can talk about that in this video for people to go and watch that, right? But on this occasion, you know, what they did was bad and what we want. And it's a bullet signal because I'm always looking at thinking, oh, are we doing an adoption? How are we doing moving forward? The more the legal apparatus and the kind of legal hand comes into Bitcoin and creates a secure trusted, well, we don't need anyone to create anyone, anything secure. I'm not saying that, but what I'm trying to say is that, you know, people shouldn't be able to go and scam people. And people shouldn't be able to go and do wrong. And if they're in crypto scene doing that and, you know, that's still wrong. That's why investors don't mind buying stocks because there's a legal framework for them to be able to do it safely and know your customer and they know it and Pablo Escobar or whatever, you know? And so, so that is bullish because the reality is on the ground and the science is that the legal system is looking at Bitcoin and as it would normal money, you know? And, you know, like they would be looking for dodgy money going around. So, so that's the bullish element of that story, actually. So it's not a negative story. Obviously it's negative because some bad stuff's happened, right? But moving that side, the legal side coming forward, you know, and inducting itself into the world and crypto finance, fintech, what if you want to call it, you know, is a good thing for adoption. So it's a bullish signal. Ladies and gentlemen, another example of how you should be really positive about the crypto scene, even while the price is going down. Where are you back to November? Where are you back to November, ladies and gentlemen, we went up the ground so easy. So yeah, thank you. It's also worth noting that Bitcoin didn't fail or expose them. Their desire for instant profits in the millions led to their arrest. The feds were basically out there saying, hey, we'll convert your millions of dollars of Bitcoin into cash and these guys were stupid enough to fall for it. I also want to agree with Shem here. Bitcoin did not make the Department of Justice's job impossible. For years, they told us that Bitcoin was the ultimate criminal money and it would make the FBI's job just impossible. And we need to not use it. And it hasn't. Meanwhile, Apple encrypting their phones, that could make the FBI's job a lot harder. So it's interesting to see a big company screw them up. While Bitcoin, they seem to be rolling with it just fine. They seized it just like any normal money. Max, your thoughts on the DOJ sting operation? Well, Shem, I agree with you in one point. And that is that we want to live in a free society. And we want to live in a society that is prosperous and where everyone is treated fair and equally in that respect. But where we disagree is the method of how we can get there. Because in my humble opinion, I don't think that writing words on a piece of paper makes something moral or immoral. No, those are just words. If I write on a piece of paper, it is for me moral to kill you. Well, does it make that so? No, absolutely, of course not. What makes an act immoral is the breaking of private property. And this is the only explanation that I can come up with. But it's a really broad explanation to break someone else's private property. What does that all entail? That does, of course, entail murder. Because you break the property of his own body and you kill him. Okay? That's bad. That's immoral. Stealing. Because you take someone else's private property that he has worked for. Rapping. You take someone's free will of actually expressing their sexual opinions. It might be same as assault, which means violating someone's body without hurting him or without killing him. And then we have trespassing, which means if you use someone else's property in a way that he does not like it to be used. And those are all cases where someone is clearly violated because it's private properties being broken. Well, okay, but what if I smoke now a joint? Whose property did I break? Did I break my own property? Well, no, I did it voluntarily. I choose to do. I choose to smoke the joint. Did it break my property? No, it didn't. You might argue that maybe it's not as healthy, but hey, it's my property. I can do with it whatever I want. And taking drugs is by definition a victim less crime because you do it by your own accord. Now, if you force someone else to shoot up heroin, for example, that is different. Because now you take away their free choice and you break their body. And that is by definition immoral. But smoking drugs and even buying and selling drugs. With consenting adults that know what they're doing and that they are willing to do that is perfectly legitimate. And if I hear such a story like the DOJ that breaks the private property of peaceful people that come together on the free and open and voluntary and consensual market to exchange, which is one of the most beautiful innovations that we have, free exchange and voluntary exchange. But then those talks from the government, those mafia bosses come in and kill everyone and take their property and put them in jail. That is the immoral act, not the smoking of the joint, not the selling of the joint, but killing people and hurting people and stealing from people because they did that. Why? Because it is a victimless crime. And any war on drugs is by definition immoral, not taking the drugs. And that's why we have those cases such as Ross Ulbrich with the Silk Road, which is a tragedy, a absolute tragedy for our human rights and for our dignity and for our liberty. And we have to stand up for that. And Bitcoin is the only solution that we have for that, or one of the only solutions. And Matt Bickhynes, as you said, yes, those criminals, quote unquote, made the mistake of going back into the euro, which is the currency of all the of all the drug gangs and the money launders. And they didn't want to have the competition in making the money. So yeah, they tried to, they tried to cut their head up at the exchange. So please, if you're a criminal, number one, don't use Bitcoin because it is anonymous, if it's not anonymous. But number two, if you would use it, don't exit it. Stay with Bitcoin. Stay with the good money, the free money, the open money. Don't go back to the coercive fiat money. So excellent point, Max, that we should mention that Ross Ulbrich, his appeal to the Supreme Court was denied. For those of you keeping score, Ross was given double life sentences for facilitating the sale of drugs, mostly marijuana, a little bit of raw milk and some whatever, you know. But mostly marijuana over a website with no violence. And he actually reduced violence in the drug market, because mainly these were large buys of marijuana. So if you're going to buy a large amount, you have a large amount of money, you have a large possibility that someone's going to try to rob you on either side or somebody from the outside. Ross's Silk Road drug market had no violence in it of the normal violence associated with drug dealing. So it was a superior system. They punished him for it. Double life sentence, there's a lot of other people who got a lot less. The sentencing guideline said that he should get 30 years. Recently, they said that they should have accepted the appeal because of the carpenter case. And what carpenter did is it limited the ability of the government searching in seizures. And if you know anything about Ross's case, they had all of his information and they used all of it against him. So a very poor decision by the Supreme Court, but what can we expect from this court, which is getting worse all the time and might even get much much worse if Ruth Bader Ginsburg does not discover the founton of youth. We are holding out hopes. Moving on to the exit question, Victor Mitchell, former candidate for Colorado governor, recently said that the war on drugs has made the government more powerful, the citizens less free and hasn't helped users or addicts. Shem Booth, Spain, how much longer will this pointless war on drugs continue and why? Well, I think we, like I said, we've got a video, we've got a video for this, ladies and gentlemen, you need to check on through the library of WCN and check out that video, war on drugs. We make sure we leave a link to the bomb. But I mean, obviously we've got a wave of law changes around the world, so culture is changing. But for me, how the hell does this relate to Bitcoin? Where do we get a tear on this? Drock talk, guys. I was more interested about that 3.3 million transactions per second of why I don't like this kind of work. Something that's actually happened today that can be done today and consequences what a lot of people are over XP, some XRP, like say, considerably faster than they. So yeah, that's my take. Sadly, I think the war on drugs will continue because the people who made their bones, who made their cases on marijuana busts and other busts are still in power. They don't want to erase their history. They don't want to go back and say, hey, we busted a bunch of people that weren't hurting anybody. We actually did wrong. If they realized what's happened with the legalization and the medical marijuana in this country, their position as DOJ or FBI or DEA, they don't have a leg to stand on. And it's much like, I use this example a lot, but I think it's really solid. General Motors had this car, the EV1. It was battery powered and it was amazing, but they also had this car named the Hummer. And the Hummer was a gas guzzler. And when you put the EV1 on the same line with the Hummer, it looked terrible. And they made so much more money with the Hummers and with the SUVs and these big vehicles. They didn't care about conservation. They killed the EV1. And in the same way, these people can't see a new future. We're just going to have to wait for them to turn over. It got pretty close there with President Obama. Obviously, all of the recent presidents have smoked. We don't know about Trump. He seems to be a T-totler, a totally different kind of individual than Obama, Clinton, or even W-Bush, who I very much disliked. But now I'm coming around on, I guess, because Trump is so bad. But we're getting too political here. Let's go to Max for your quick thoughts on, why does the war on drugs continue? Well, the war on drugs continue because many, many people profit from it. Because what is it? Well, it is a war and it is an unjust war. And who wins from an unjust war? It's the incumbent that is fighting it. And that is the whole entire military industrial complex and the entire deep state of the United States, which has been a constant war for like the last 100 years, and which they finance, of course, with fiat money. That's the main reason why we have had war for the last past 100 years. Because for ever since the first world war, each and every war in the history from that point on has been financed by money that was printed newly. And what is that? It is a hidden taxation. You steal the purchasing power of savers and you give it to the government and the government buys bombs with it and bombs people with it. And if you think that buying bombs and buying guns and killing people and destroying other people's stuff is a way to create wealth, well, come on, then please wake up. No, the main reason why we have so much war is because of the loose fiat money and the easy possibilities of governments controlling and printing their own money. But you know what? This monopoly has been unrefutably broken on the January 3rd, 2009. And Bitcoin is the solution because now we have a government hard money, a money that can no longer be printed, a money that can no longer be printed to fund immoral wars such as the war on drugs. And in my opinion, I think as with pretty much everything, Bitcoin is the solution because it is a sound money that values your own freedom, your own liberty. And that has so much power and that is so much worth it. And yes, you can buy drugs with Bitcoin, but that's the entire point because if you couldn't, it wouldn't be a money. That's right. That's what Andreas always says if you can't buy drugs or hookers or whatever you want, it's not good money. And that's why Bitcoin is so good you can get what you want. Moving on to issue five, Venezuela. A new plan to send millions of dollars in Bitcoin directly to the people of Venezuela is moving forward despite not having the permission of the Venezuelan government. The plan is to develop a simple Bitcoin lightning wallet that could be used on an inexpensive cellular phone. While on one hand, the project seems incredibly noble, a new form of foreign aid giving to people in need directly. On the other hand, the Venezuelan government frequently arrests citizens with deviating political opinions and has even banned technologies used to circumvent censorship. Max Hillabrand, do you think that the Venezuelan Bitcoin air drop will be successful? Well, guys, what we see in countries like Venezuela and countries like Argentina, Zimbabwe or India is economic warfare. This is not a joke and this is on purpose. And this is a well thought out plan and a well structured plan that has been going for well over a hundred years now. And if you think that your country is safe of that economic warfare of people being on the street and not having enough money to buy a loaf of bread because the government had printed the money to be worth shit, well, think again, because this is coming to you. This is a global phenomenon. This is a international phenomenon. And this means that we really have to stick together because if one country fails, then this is just a test chamber. For example, what they did in India is that they just killed, that they denominated the two largest currencies, which created a huge amount of havoc. It destroyed the entire economy. It took the savings of innocent women away because they had to give it to their husbands. And it's it's a moral, well financial warfare all around. And yes, absolutely. Bitcoin again is the solution to this. Why? Because of this government hard money. It's a decentralized free libertarian money. That's the entire point. We want to stop this immoral government spending. We want to stop this inflation, which is just a hidden taxation with our representation, which is theft. And Bitcoin is the solution here. And we need to get Bitcoin to those people as fast as possible. As the article said, Bitcoin is the bank that will break the government monopoly and that will secure the people, the individuals that are driving it that are in that economy. Bitcoin is extremely secure. And that's why it is so good. It will bring peace and it will bring freedom even to those countries like Symbacway or India or Venezuela. So absolutely, we need Bitcoin. I definitely like the idea and I like the motivation behind the idea. I just wonder if it's a solution looking for a problem. We have these people. They might not have the technology. They might not have the network or the cell phones or the internet to really use this technology and they're kind of trying to shoe horn it in trying to put a square peg in a round hole. And I wonder if that's really going to work. I wonder, I know it would be great to give these people money and to give it to them directly. But there's also a problem like when the United States went into Iraq and they started giving everyone 20 dollar bills and pretty soon 20 dollar bills were worth about $1 because it doesn't matter if it has a $20 value in the United States or if you can sell your Bitcoin for $6,000 or whatever it is. When you get back there in the bush and you're trading Bitcoin for milk or food or whatever, it's going to be how much they value it at and how much they can exchange it for. So really we're talking about, does Vennice, do Vennice, Wail and have a way to get cash for Bitcoin? Do they want to get cash for Bitcoin given the inflationary nature of the boulevard? It's a lot of problems to solve for one startup or one former Goldman Sachs employee or whatever he was. They think they said he worked for a bank or something like that. But I do appreciate the goodness behind his idea. He wants to do direct foreign aid. I'm just not sure if it's the right place or the right country. I think if they had a disaster in Japan or somewhere where they have lots of phone and they have lots of internet, they have lots of tech people, that seems more like a perfect match for this. But we'll see how it goes in Venezuela. Shem Booth, Spain, you're back with us. Do you have thoughts on Venezuela and the Bitcoin air drop? Yeah, I think that's an absolutely fantastic idea and it's going to put Bitcoin in a really more difficult situation than perhaps if we was going to plop it into an African or somewhere where there was very remote community. The fact that it's up against the Bolivia, the fact that it's in a hostile nation in terms of what the government perceives as Bitcoin because, remember, Venezuela, was it then making their own shitcoin? Yeah, the petro. Yeah, the petro. The petro. Yeah, we know. Yeah, so I think when we look at the actual facts on the ground, I think it's going to be one. When you put a technology and Bitcoin into that hostile environment, you're going to see it technologically flourished where new apps, new services, new things, new ways in which it's going to be used that perhaps we might not perceive. So I think this is an excellent experiment. I almost feel like we're Bitcoin aliens and we're going to see this air drop over there and see it'll be fantastic to see the data to see how the coins are disseminated, see how they flow through a local commerce because we haven't really studied that much in Bitcoin, ever that microconomies that we're seeing. When there's these nations or economies or villages anywhere where it gets a little bit smaller than a town, how does crypto function because we know Bitcoin can do job technologically, it works in those environments. Remember, there's a block stream satellite delivering the blockchain globally around the world. So it is technologically possible to do transactions in remote regions. But in those city areas, whereas up against the Bolivian and the their their their their their their own national checkpoint, it's going to be fantastic to see how that that pans out. And I think that's going to make a tremendous landscape that would be highly highly competitive and enable Bitcoin to flourish. It's another bullish sign who would have thought and massive air drop to Fenersway that the place where currencies is the epicenter of currency wars occurring on planet Earth today. Bitcoin's got captain Bitcoin. Yay. It's going out there. So it's going to be fantastic. That's how I think I'd love to see the data. I would I hope more charities are involved. I hope more businesses and and charitable organisations that are looking to do those kind of tasks. You know, if only they knew that this this research experiment was occurring is it's absolutely fascinating. What what happened with the coins? Will someone just end up accumulating them all? Will they end up rolling through and becoming, you know, we see lots of hodl waves where coins are moving very quickly as commerce is being done. So yeah, very different environment for Bitcoin to be. And obviously we know Bitcoin is lost in Fenersway that you know, if you if you ask for the preferred dollars currently if you use the wave dollars on but you know, if you wave crypto they take that definitely but they want to deliver in dollar. They the fact speaks for themselves ladies and gentlemen and not a bullish signal why you should be more confident get out there by seeing Bitcoin right now. Save the world. Save the world. You're beautiful. Exit question. Yes or no regardless of its success or chances of success do you believe that they should do the Venezuelan Bitcoin air drop against the wishes of the local government Max Hillibrand? Against the wishes of the local government? Well, absolutely because guess what we don't need their permission. We're just going to do it. Scythe for Pungs right code. They don't ask for it. They just do and that's exactly what we are going to do. We're going to build the next the next new sound money and that is Bitcoin and we're going to bring it to every person in the planet. Well, the question is though how are we going to get there? And the interesting economic phenomena that is happening here is called Reshams law which means artificially, artificially is important that means there's government intervention here. Artificially undervalued money drives out artificially overvalued money and that means that for example if you have a shitty currency like the Venezuelan Boulevard and you have a really really really really really really good currency like the coin and you have both of them in your pocket and you want to buy something which one are you going to spend now and which one are you going to save for the future? Well, obviously you're going to give away the shitty currency which is just a worthless piece of paper and you're going to hold your bitcoins, you're going to hodl your bitcoins, you're going to store your value in bitcoins, the killer app of Bitcoin. But the direct effects of this is that Bitcoin will not be in the marketplace. Bitcoin will not be used as a currency, as a medium of exchange because the people want to get rid of their dirty fear of money which of course nobody wants to have. And the question is when does this tip, when do we start to remove all the shitty currency and actually use the good currency? And that point is when everybody is in this ecosystem because if you only own Bitcoin, if you no longer own any fear, if you no longer get your cash flow out of the field, well then you have to spend your Bitcoin. It's a beautiful place to be and because it's a really, really good currency and you should be all into Bitcoin and you should no longer hold any fear because it is a moral and it is wrong. And the main reason here is because if you now are all into Bitcoin, then you can start using it. But if you still hold some fear, you should much rather spend that fear than spend your Bitcoin. But the question is how soon can those people in Venezuela and Symbape in India, how soon can they get to a point where they are all into Bitcoin, where they completely ignore the government fear? And that is when we have actually succeeded of bringing some money and that will take time. But trust me, we will get there. Shem Booth Spain. What was the question again, buddy? One more time? Should they do the airdrop even though the government disagrees? So what did the government do then? What did they say? Please don't give those people Bitcoin. And give me some context beyond the news, baby. What do you mean? The Venezuelan government frequently arrest citizens with different political opinions and has banned technologies. So they're pretty tied about this and even though the boulevard is going down, they probably want you to stick with the sinking ship. Yeah, yeah. Well, I don't know what it's like on the ground out there, but are they going to ban? I think it's an amazing experiment. I think it was a fantastic experiment to see how the consumption of those Bitcoins works in the local economy, in the micro economy. And thing is, Bitcoin is no one can stop it. It's the honey magic, baby. Simple as that. Well, unfortunately, I've seen too many of these airdrops before. We all remember the MIT airdrop. We all thought it was going to be really good to get these MIT kids into it. A couple of the kids collected all of the Bitcoin. I'll give you a beer for your Bitcoin. I'll give you a soda for that Bitcoin. They rounded it all up and did very well. There were other airdrops like the Aurora coin airdrop where outsiders were going to drop this currency on all of Iceland. And the people who were able to claim it instantly sold. They instantly sold the currency. So there hasn't been that great a history with these airdrops. I worry about the money being rounded up by war lords or like I said, trading a Bitcoin for a glass of milk. The prices might get out of control. I don't know if you can really just create a market by dropping a bunch of widgets on people and then saying these widgets are valuable. They could be coke bottles for all we know. The technology of it, they don't they don't know about I mean, I sell them too, but they don't know about the math. They have these old cell phones. They have money on it. I just don't know if it's a good fit. But I like the idea behind it. I like the idea of direct foreign aid and that we could give the money not to the government, which would spend it in a government way, but give the money directly to the people and try to stimulate their economy. So I think that could be a positive, but I'm not sure if this is the right project or the right time or the right place. So, but that's about it for the show. Moving on to predictions or story of the week. Max Hill around, are you ready with a prediction or a story of the week? I am actually and I want to talk about a book that I just picked up today and re-read because it is such a fantastic book. And this book really brings together the Austrian theory of the business cycle or of the monetary theory that is sound money, that is a free money, that is a open money, mainly gold. But it also combines that with the ethics of liberty and the morality of a good money and the morality of a bad money. And well, the Bitcoin white paper was published on August 18, 2018. This book was published two months later. So unfortunately, the book itself does contain a section on electronic money, but it does not really have the new innovations of Bitcoin in yet. But nevertheless, the arguments that this book makes is perfectly suited for Bitcoin as well, because it is really the ethics of Bitcoin. It really tells you, okay, why are we in this? And the good thing is that when you read this book, you realize this is nothing new. Liberty is not new. Liberty is ancient. And the drive of human kind towards liberty.com and towards freedom is really, really powerful. And the book is by a German French economist who studies after the Austrian School of Economics that is Mises Rothbard, Hayek and all those other great freedom fighters. And he is called Yoke Goudon Hützmann, kind of a tricky name, but the book is easy. It's called the ethics of money production. And you know, that tells it all. It really is a fantastic book. And of course, because there is no things such as an intellectual property, you can get it for free, gratis, at the Mises Institute at Mises.org. Just Google for it. You'll find it. Of course, the Mises Institute would laugh together the nation from you. And so would the World Crypto Network. So please, if you have a few satoshi left in your wallet, come on, send it to us, or the World Crypto Network, we would really appreciate it. Thomas has been doing this for quite some time now, and everything as well. So thank you very much for this fantastic show. I had a blast. It was really fun talking to you about Bitcoin and talking about liberty and see you on the next show. All right. Thanks so much, Max. Sounds like an excellent recommendation. Sham Booth Spain, a prediction or a story of the week. A story of the week. Story of the week is so amazing video from a trader called Anton Grill. He's a top British hedge fund trader. He's actually anti Bitcoin. I tried to get one with the show, but we don't have none of it. But he said a fantastic in a video, a 10 steps to personal wealth. And he said a comment about perception of value, perception of money. And he talked about having an emotional barrier to notions of price and perceived value. And as a professional trader, he would have to be obviously on cue to understand his own feelings about price. And I think we've got to kind of take some, take a leaf from that book, people, if you're feeling the pinch of the price. As I said earlier, price doesn't matter for me. I'm too pumped about the latest implementation of lightning that's come out. The fact that we've got a 7.8K open channels, you know, a 26-week coin capacity already. And that's a 16.8000 percent increase from only six months ago. So exponential growth of the lightning network is happening. It's not played away. It works right now. Current capacity of lightning network is 3.3 million transactions a second. That's the technological limit currently as we are with those 17.8000 nodes. So that's really puts a smacker in the narrative of those that are trying to take down this amazing notion, this free money, this free non-debt-based money that could transform global commerce and make the world a better place. That's what we've been banging on about. That's what Satoshi made it about. If you're listening to this, you are the resistance. You need to have some faith. And I really mean that. And your faith should be founded on scientific principles of what the reality is. And just as we've discussed a numerous different points, Max, Thomas, my good self, today on the show, we've touched a number of points that should give you confidence. You know, we've talked about the expert traders of consolidate and unbuying more crypto. We're talking about going shopping for all to if you're into that thing or scalping if you can survive that. There's always a bit of fat that you can so yeah. So, you know, and those that have faith in Bitcoin, Bitcoin teaches you, you know, holding Bitcoin is a process of learning about your own personal wealth people. And you know, it will reward you with prices. Well, for holding it, it's reciprocal. You know, a lot of people don't understand, you've got to get something in your pocket and learn how to use it, learn how to move it, learn how to store it correctly. And if you're feeding the burn with the price, you know, and in the video that Anton Grilgur, the amazing trader, says he first puts out $10 and he says, how do you feel about that? The guy says almost $10. That's a coffee in a sandwich maybe. And it somewhere, he says, okay, you know, $50, you know, that's a meal out at night with my lady, you know, and then he puts $100, you know, he keeps putting the money down, and he, you know, he gets it's a couple of big fat, ward of cash, you know, and the guy's like, well, you know, oh, there's a lot of money there, you know, and he goes, and then he stops him and he's like, the money, what do you think the money thinks of you? He said, well, the money doesn't think of anything of me. Of course, because it's an animal. It's your preconceived notions and ideals of value that you place on a speculation, my friend. Like we said earlier, we've got a raise from the speculation, you know, into a higher dimensional mindset, you know, beyond, be out of the guns into the stars, you know. So ladies and gentlemen, that is my food for thought. I want to inspire you. I want to remind you as with these good people here tonight and why we're here tonight of the fundamentals, which is the amazing technology. Go and check out the latest implementation of and get rocking and rolling with the apps, baby, load them up. Give them a go. They are working right now. And yeah, things are actually good. We're contrary to what people may think. There's a lot of really amazing, amazing things going on that if someone has said to me five years ago, this is going to happen in Bitcoin, I'll go, no way. No, what we're going to have this, we're going to have that. We're going to have all these amazing things that I can make. I just wouldn't believe it. So, you know, it's take a step back, get out of this speculation, mindset, learn about cryptocurrency, learn about how money is created, learn about how money works, you know, and build up a bit of an emotional barrier against the price as well and get greedy essentially because you should be consolidating. If you're feeling the burn because of price, you should switch that feeling to, and this is my opinion and my advice. This isn't legal advice. And I wouldn't sue me. I'm not telling you to go into, you know, buy Bitcoin and sacrifice your living standards for that. That would be absolutely bananas and talk about wealth and talk about being a better person, being advanced human primate, being a modern person with this wonderful technology that we've got. And I'm simply advising you to think about saving, saving is a good thing. Investing your money in a technology that sounds will only be a good thing. I don't get paid to do it. This is just, if we were friends in a bar and I was telling you my opinion, okay? So yeah, and I hope that gives faith to people because, you know, we're so watertight on all these things. If we was in a debate or discussion, people go, yeah, but you can't do that, because you know, that's not what's going to be more than that's paper. All of the arguments have been one, right? There isn't, you know, you could still can't turn around and say to me that XR please the standard, the bank, the standard, bank, the same using it, right? I could fork it myself. I know people that have forked it. It's easy to fork it, right? There isn't any other crypto that's going to do what Bitcoin's doing. Doesn't matter even the currency coins. There isn't, you know, there, tell me a currency that's competing against Bitcoin, they are competing against the only competition Bitcoin's got is the four currencies above it, yeah? Which are like US dollar, GBP, Japanese, Yen, Chinese, Yen, yeah? So we're doing really, really good. And we're going to be the global standard. We'll get the IMF going to be doing STI's in 10 years. They're going to be doing Bitcoins or they might have a few STI's but not as many as the real Bitcoin. So we as in a such a bullish moment, we haven't even begun to the halving where mining difficulty gets harder and the actual deflationary nature of Bitcoin comes into effect in the market. We're still in the small, early, pro-day's where, yeah, CME, little bit of an effect. Go and check the history and the charts with Uranium or any other products. You'll see as soon as they're going up, CME will come in and compress it down and then later come back up. So, you know, because they're growing economies, economies don't just store just because the load of people started trading it. No, once a economy gets bigger and bigger, more traders come in, more traders, they're all trading against the trouble, Trichard, Trichard, Trichard, so that's how I feel. I want to instill everywhere of confidence. The market is actually a typical herd mentality at speculation. If you're feeling the fear that you're in the herd, pull yourself out there, elevate your consciousness, understand the technological innovation of Bitcoin. Get excited, programmers, coders, innovators, scientists, you know, and philosophy is a team sport. You know, I don't subscribe to any political ideology or anything like that. So, and even just Bitcoin. So, don't listen to anyone saying, what Bitcoin's going to do, this Bitcoin's going to do that. It's a technology, it's application, it's one or end fruit, one could say. Until then, ladies and gentlemen, that's all I'm doing for tonight. Boys and girls, if you ain't the fucking the message of tonight, what we're trying to say to you, and I don't think Max is going to do it. But if you're listening to this, you are the resistance. I told myself to you, buddy. It is amazing how far we've come in just five years, Shem, to think five years ago that a CNBC would have a Bitcoin ticker on screen at all times, that they would be talking about cryptocurrencies, and even pumping ripple and stellar and maybe B cash. We've come a long way, but that doesn't give us price security or security in the future. We still have a long way to go and we need everyone working on this project. They're saying in the chat that the man burns in 64 days, that seems really soon and I'm not prepared at all. It's a funny thing about burning man, you get it into your system and you kind of go every year and it's just a part of it. And then at a certain point, you can't get tickets or you can't get the group together and it just kind of fades away because it's so much work to get out there into the desert, but it really is an amazing community. And what I always tell people about burning man is that yeah, some people go there for a drugged out hippie rave, but other people go there for their sense of community and for the art. And that really burning man is whatever you bring to it, it's whatever you make out of it. If you're afraid of it, it's afraid of you. If you're really into it and you meet lots of good people, it's going to be awesome. So, respect to everybody that's gone. Maybe you're going for the first time. It should be great. I think the guy in the chat has been for the last 20 years or something.