The Bitcoin Group, the American Original. For over the last 10 seconds, the sharpest Satoshi's, the best bitcoins, the hardest crypto currency talk. We'd like to welcome our panelists, Dan Eave, the crypto raptor. Wassau, Wassau, Wassau! Brett Craton, Shipcoin Tollogist. And I'm Thomas Hunt from the World Crypto Network, reminding you to give us a thumbs up and a share and to subscribe down below. Moving on to issue 1. Elon and Jack. Two major Silicon Valley notables weighed in on Bitcoin again this week, with Tesla's Elon Musk and Twitter's Jack Dorsey coming out in favor of the fledgling cryptocurrency. While Jack does seem to back his words up with actions, Square's cash app only takes Bitcoin. Elon and Tesla have a more weight and sea approach, not even accepting Bitcoin directly for their fancy electric cars. Dan Eave, I ask you, which is more important, Elon's endorsement, Jack's endorsement, or neither. Well, I think if you think about pure reach, Twitter's got like hundreds of millions of followers. If Jack was to do something cool, I mean, he's already held the lightning torch. Imagine if he did something like integrate lightning into Twitter somehow. He's even kind of spoken about, I'm sure he's mentioned or talks about the tipping bot. So, I think that's really cool. That's good news that both of them are becoming prominent speakers. Not backing it completely. I think Elon Musk said he's backing 0.25 Bitcoin at the moment. So he could probably be stepping up his game a bit and saying, he's dipping his toes into the water a bit more. But still, the people, the influence that they have, especially in the tech industry, and of course, crypto is Bitcoin is technology. So them being in that position of respect from other people and knowing about technology, as well as the reach of their different applications. So with Twitter, you've also got that Jack Scott's Square app as well. So I think it's great that they're getting involved. So we'd like to see Elon Musk get the lightning torch. So there's not many hops to go there. Rhett, Creighton. Yeah, I mean, I think it's so first of all, the fact that we see Elon Musk and Jack are promoting Bitcoin now. It means that these guys are both billionaires. They both know that Bitcoin is the next money. They're both very, very specifically telling everyone, like, hey, get in on Bitcoin, right? And it's kind of crazy because anyone who's in crypto, they know this is when you buy a Bitcoin, right? When it's been beaten down 80% and you want to buy, but humans are just irrational and they're just sad. They're like, oh, I see you going down. And so they don't want to buy it right now. But I mean, so okay, so Elon knows this. He's trying to think to people that follow him like, hey, guys, look, if you're my follower, I need to give you a hint. Okay. Now what Jack is in control of, I think it's not a mistake the fact that Donald Trump used Twitter really well. And now we see AOC, the youngest person ever in Congress, she uses Twitter and social media really well too. And I strongly believe that basically these social media platforms are going to take over all of our political systems. We're going to see people who can use these systems really well start to become extremely influential. And we even see that with crypto politics, right? We have politics, all kinds of politics. We argue for years whether it's block size should be one megabyte or two megabytes within Bitcoin. And then we have all kinds of politics cross-chain, right? So in the crypto community, we know very well that Twitter is the place for political discourse. And we're going to start seeing that also go into the government's discourse and discussion and to help decide who gets elected, right? Now Jack knows this. Okay. He understands exactly how powerful Twitter is and exactly how it's going to shape all of all politics in the world and how we choose our money, right? So he's been, he's been hinting for months now. His pin tweet was Bitcoin white paper. He's like slamming this. He's trying to hit people over the head with it. He's like, how can I be more obvious? Right? But the general population, they still don't understand. I have all these well-respected friends and people. And I'm trying to tell them, dude, you need to get on Twitter. If you want to be influential in the future, you want to get into politics, you need to get on Twitter. And there's still just so many people who don't get it. So it's really a testament to how early, like we are really, really early on this, right? Because there's trillion dollars that are assets under management at these huge financial corporations. And Bitcoin now, I mean, depending on how you want to figure out your market cap, like 50, 60 billion or whatever, it's just incredibly small. So to me, like from a purely transformational societal transformational perspective, I think Jackson Dorsman is huge. And he's, he actually, I believe he's definitely been either tipping people with lightning now or accepting them. And so what that signals to all of us is that that's okay for all of us to do. You can't get banned from Twitter for tipping people with lightning points because the CEO of Twitter is doing it, right? And we all know, like that is one of the fastest, most effective ways to incentivize adoption. So like it's crazy. The time I'm so bullish on crypto right now and Bitcoin, it's just crazy. Well, I like Rhett's idea about the politics, but I want to push back on that. I'm hoping that the Trump thing is a road bump. It's something that we go over and we get past and that's this Twitter name, calling noise, echo chamber that he's created. Maybe could be something we grow out of. I see it being used Twitter, but it uses it in a different way than Trump. I'm just not sure about the go ahead, Rhett, you're going to say something. Well, I just disagreed, right? I think a lot of us, we got exhausted by the last election cycle. And everybody, there was a lot of hate going around and everybody was hoping like, oh my God, when is this going to come to an end? And the reality is there's no way we're going back to what life would like for this. Now that's said that Donald Trump uses Twitter like fully, okay? That doesn't mean you have to be an asshole and bully, right? Because what AOC does, Andrea, I can't say my name, Andrea, are really famous. Octavio Cortez. Yes, yeah. Octavio Cortez, right? She is authentic, right? And she shows people, she's like, look, I had a hard day at work as a congressperson, I came home and I ate some Benjari's ice cream, right? And she is able to just reach out to people and deliver an authentic message so much more effectively than anyone else. And she's actually been giving these, so she's giving lessons now to other congress people where she has to explain to them. She's like, no, you don't go on Twitter and sound like a father, if you're a mom, if you're a mom, you go on and you sound like a mom, right? And so like she had to teach that to them because, you know, like no offense to like Hillary Quentin or whatever, but she was trying to use Twitter in a way that didn't feel very good, really cares about it. Like I think she would have reached a lot more people. And I don't think we're going back. Like that's the future is that there are going to be like more people on these platforms that you can reach out and have a much closer connection with. And it's going to be more decentralized in that way. And I think that's just the future, right? We're not going to go back to before. Now hopefully we start electing people who aren't bullets, right? Like I'm on that side. I hope that we all realize, okay, well, you can be nice in the world. You can be a bully. And we know what that is. And we don't need to like bullies. Anyway. And I would even push back on the chat here. You have to be able to separate someone's political views from how they use the platform. Even if you disagree with AOC, you have to see the way she's being authentic and the way that she's pushing her true self as this, I don't know, 23 year old barista that's been elevated to Congress. That's who she is. She's not being fake about it. They want her to come in as this big socialist leader and have all these high flute and ideas or whatever. She seems very much more grounded. And part of this is because of the way she's able to present herself on social media. That's a skill she has. Even if someone you disagreed with had it, you have to still see it as a skill. Going back to my answer. I would go with neither. Although I love that the media is writing articles and they're all excited that Elon and Jack are both into it and they both have great careers as entrepreneurs. I don't think we need them. Once again, I'm rejecting the hero theory of history. It was not simply Martin Luther King. It was not simply Napoleon. It was all these other people behind them. It wasn't just George Washington. It was all the people behind them. And it's not too late to give up on that in Bitcoin. It's still the individual people that convince people that are spreading the word. It's great to have Elon's, great to have Jack. But I'd rather have 10,000 normal people out there spreading the word because they believe in Bitcoin than just sticking with these two billionaires. Let's go to a crypto raptor for the exit question. Force prediction, which is the most successful five years from now. Tesla, Twitter or Square? Well, that's a difficult one. Because five years' time, I can see all three of those advancing pretty darn far. So if you want to, if you want a quick question, I think Twitter. And I think the reason is because I think they're only just kind of starting out as a company before really branching out into all the areas that they can do. Like Facebook have done, for example. And I think that there's a lot of ways you could take advantage of Twitter and that businesses could be using it a lot more to promote their brands and support their brands. Like some of the really good ones that we've, you know, some really good ones that way they manage their public brand. So I actually think Twitter, I think you could squeeze more out of it. Rhett, Creighton. Yeah, I mean, I don't have to go with Twitter also. I mean, it's definitely, you know, you can't really predict the future, right? I mean, I view Tesla basically as a toy company. And I think that's kind of how Elon even, you can use it that way. He talks about basically he doesn't build a car. He builds sort of like the most fun you can have for $100,000, right? And I, I'm really bullish on flying cars, the prospect of flying cars. My friend Kenny works on them in the, in the Bay Area for a company called Kitty Hawk. They're actually really good. And Puerto Rico where I live now, the island is about 200 miles wide. He says we're going to be able to, they'll be able to build them to fly across the island. So that'll be nice because we'll be able to go from the east coast to the west coast and avoid all the traffic and the potholes. Which by the way, I love that there's tons of potholes everyone complains about in Puerto Rico. And I love the potholes because it means the government's not spending money on them. And it means that we just get that much closer to people demanding flying cars. Square is a little bit unpredictable because like if they're integrating Bitcoin now, right? Either Bitcoin, either they could become more zero because you don't really need them. Or they could just become like, you know, the next like, fidelity of Bitcoin or something like that in the future, right? So they could, they could be potentially really huge and much hugeer than Twitter. I don't know that's a word. But, but Twitter, I'm, I'm just seeing something now with Twitter. So I am, I am very strongly believe that. What we're able to do now with these platforms like Twitter and Instagram are build. Systems of coordination and incentives for to socialize for socialization of humans in a way that, you know, capitalism did that before we have the internet and computers and, you know, with socialism did that and we had these structures, but we can actually turn these, these virtual social networks into coordinated structures that do actually influence and can, you know, direct human behavior very well. So there's a very, I see very strong chance Twitter could become extremely powerful, almost as powerful as some of the largest countries today. Well, I hope that happens, right? And I hope it happens for a positive way. Too many times we see people controlling other people on the internet or through China's Facebook clone in a negative way. You spit on the sidewalk, you get punished. You are friends with someone who spits on the sidewalk, you get punished, so on and so forth. So it would be nice to see a more positive aspect, something from Twitter, maybe teaching people civics or something like in the diamond age with the young ladies illustrated primer. I definitely say check that book out, Neil Stephenson, early. But I would agree with you on Tesla. I want to go with Tesla. I think they're more exciting. I like the rockets. I like the solar panels and the spaceships, but you guys are really right. They're more of a demonstration company. The success of Tesla is when Ford goes all electric. The success of Tesla is when everyone switches to solar panels. It doesn't necessarily matter if they're Tesla solar panels or a Tesla car. It's the success of those products. So I'm going to go with Square. I'm going to say they sneak up on everybody that get these payments set. They use Bitcoin or maybe even Lightning Network as the rail so they don't have to build any of the fancy parts. And really they just have to build a really good two-of-a system to keep you from losing access to your account. And they sneak up on everybody paypal, paypal, Venmo, all of them down to Square. It's unlikely, but I like the drama of the prediction. Let's move on to issue two. Samsung S10. Samsung announced their latest phone this week, the Galaxy S10, as well as including a bigger and better screen, a new camera and all the usual bells and whistles, the S10 actually included a legitimately new feature, the blockchain key store. The blockchain key store will allow users to securely store their private keys in a hardware wallet, isolated from the rest of the system. Rhett Craton, could this new feature put safe and secure crypto into the hands of millions of end users? Is Bitcoin cryptocurrency going mainstream? Yeah, this is, I mean, this is huge. This is really exciting for me because, you know, basically, you know, every bull market cycle, right? We have to reach out into a new group of users. And there's millions and millions of young people on the internet, on these social networks that just have never used crypto, right? We know all these people now that basically they've been through a bull and a bear cycle. A lot of them got burned. A lot of them are never going to touch Bitcoin again. A lot of them are like really salty, right? And this is really just the growth trajectory of Bitcoin is, I've seen it since 2011. You get people, they buy Bitcoin at $8. It goes up to 30, then it crashes down to two. They say, Bitcoin's a Ponzi. They sell out, they're never coming back, right? And they're gone. And then, but then in the next bull cycle, you just reach out and do a whole new group of people. And all, there's these millions of young people, they actually use Android phones, Android's more popular. And, you know, and they're in Puerto Rico. They're asking me how to use crypto. Like, there are a lot of people, they've remembered, they have never had a Bitcoin, right? And so, I think this is huge. Like, this is just another way of reaching out to a bigger audience. And it's exactly what we all need to be doing in crypto if you're holding Bitcoin. And you believe in its growth. And you want to, you know, help basically promote that. Like, the people who are going to be in the next bull run for Bitcoin. It's just a great way to, you know, to help people give them access to a Bitcoin wallet. I think Tom's had some, all right, you're back Tom. I'm back. Let's go to Dan. Go ahead. Yeah, so, well, I have the, I've actually got the S9. And I've switched over to Android probably around about the, when after that, I think it was the iPhone 5, when it switched to the iPhone 5. So I just wanted something that was a bit bigger. And, you know, iPhone didn't go to that big screen. And I think it's really good. I mean, I've been using NOx for a while. They're actually, you know, they're encryption software. I think the idea of this key store is pretty good. There was a video on the, the advert that says, like, touch blockchain or I think it's, yeah, touch blockchain. It's got a big button that you can press to activate your S10 blockchain blockchain. Joseph Young mentioned about the fact that, you know, this could pave the way for say Apple as well following suit. I mean, Samsung is just one company, of course. I think the stats in the article said that the 70 million units in Q4 alone for Samsung. And now the S10 obviously is not going to be as much as that, but as a kind of conservative estimate, they said 25 million over the next year. So that's a big fat new user base to kind of introduce to the term blockchain. And as the new features come out regarding that, hopefully, you know, the people that were interested before. And like RETSAG about, you know, these new people being interested. And these are the new ones. I think that we're going to be able to reach a lot better with these new features, with apps as well and the ability to transact faster. And I think that that lightning's usability is actually kind of, and although people have, you know, pissed off about the fact that it's a custodial service, but it's like, you know, it's having a change quite effectively. So, you know, that's been shown to be a kind of fun and cool way of using crypto. So adding the ability to store your product, you know, details on your phone and it'd be a bit more safe and secure with that. I know people still have a problem. I still think it's great that it's opening up the floodgates to a huge number of more people. And I think the other, other, you know, makers like Huawei and Sony will probably follow. See, I'll imagine. I'm just excited that we made it this long. I can remember back to when Apple banned all the Bitcoin wallets from their App Store. And now Samsung is putting a special chip onto their phone to enable crypto wallets. And yes, I'm hearing the people in the chat. It's not as good as a treasurer or a cold storage device. It's not quite at that level. But it is a separate chip. They are trying. As far as I understand, it would be very difficult for say another app like my pinball app to break in the secure enclave that's being used by my crypto wallet. Now, it might not be impossible. Certainly something could happen, something could go wrong and it could sneak in. But they're trying and they're trying at the hardware level. So I think it's very exciting. I think Samsung is taking a bit of a risk here. They're putting in a feature that people might not use. This might be abandoned in future phones. If it doesn't work, remember that cost money to put more chips on the phone. But we're going to have to see how it goes. I agree with Rhett. I'm excited. I think it's going to bring new people to crypto. And people who haven't tried it yet, they'll be like, well, I got this feature on my phone. The last time I tried out a feature like this, I got to listen to music. It worked out really good. Maybe this time, I put some money on my phone. Hey, all right. So let's move to the exit question. Yes or no, will you buy the new Samsung phone, Rhett Creighton? Yeah, I'll probably buy it. Just definitely good to have. Anyway, try these things out and be on top of things. I'll find a use for it. All right, Dan Eve, will you buy it? Yeah, yeah. I've got an upgrade, free upgrade coming soon. So literally, I think it's March 16. So it's just in time. And I think I'm going to have to check out the first phone with, you know, blockchain enabled apparently and test the little bad boy out. Or bad girl, whichever one. Well, I hate to break with the panel here, but I will not buy it. If they sent me one for free, I would try it out. I'm very interested in the folding phone. That sounds great. But generally, I'm locked into iOS. I started buying apps, gosh, it's going to be 10 years ago now. So I have 10 years worth of apps, 10 years worth of pool of pinball tables. And I'm not leaving to the Android platform. Also, I like the way iOS feels and the way macOS feels in general. I feel like I'm paying people to solve problems for me. Whereas on Android or Windows, I feel like I'm solving those problems myself. And I'd rather someone else run the task manager for me. I don't need to be involved at that level anymore. Moving on, did you know the world crypto network has an audio podcast? That's right. You can subscribe on iTunes today. Get all the shows in audio format on the world crypto network audio podcast. Moving on to issue three, quadriga QX. Well, we currently have no new information. And this is certainly all speculation. Coinbase CEO Brian Armstrong weighed in on the quadriga QX scandal. And according to his analysis, it seems unlikely that the funds were lost with the death of the CEO. Brian's research shows that the exchange likely ran into trouble long before that. And we're operating with a fractional reserve only seizing on the opportunity to blame it all on the founder after his untimely death. Rhett Craton, your thoughts on this new quadriga speculation? So I think anyone who's been following this, this is pretty much, you know, we all knew that this is likely the case at this point. But, you know, this is really just someone who has a really strong reputation, you know, is running the largest, you know, crypto exchange or so. I don't know how, whatever Coinbase is, but a huge, huge, reputable license, regulated service within the US. And he's sticking himself out there and telling everyone like, this smells really fishy. So the fact that he's willing to do that, I mean, you know, look, when I, when I found out about this, it was just like, okay, you know, a hundred million dollars hack or whatever, that's another, that's just another day in crypto. So I'm not following the story like super closely. I wasn't affected, but I'm sorry to anyone that was affected. But yeah, I mean, the fact that he's putting himself out there kind of tells us more about what what we think happened. Now, I hate to say it, but whenever any of these things happen, I always assume it's an inside job. I always assume that maybe somebody somewhere needed to take the money. This one is no different. When I saw that interview with the founder where he went on a, a YouTube podcast somewhere and he's talking about cold storage and he's talking about how important it is and he's talking about how he separates the stuff. He really seemed to understand it in a way where he was basically saying, we're not going to get Mount Goxed. And I believe him from that video, I don't believe him from this him being dead and them losing the cold storage or them sending it to the wrong account. None of that makes any sense if you really think about it. So while I don't have any new information and certainly we're just speculating here, it does look very questionable. Brian's evidence did seem pretty strong that they had earlier problems tried to operate on a fractional reserve and then took advantage of this problem at the end to blame it online. Dan, Eve, your thoughts on the Quadriga QX collapse? Yeah, so it seemed like I think Nick Coats, if that's a Cote, if you have how you spell it, he said that he'd been in contact with Dwayne from the exchange and that their banking problem started a lot earlier than everyone else thought around about the spring of 17. And this is just another one of these issues that kind of really shows how it's funny how one of the biggest things that when I my go to is about the existing financial system and how fucked it, how fudged it is, is that there's fractional reserve lending. I just take this idea that they don't even need to have a remotely enough money to cover you. And the sad thing is that with exchanges, they can do that. They can literally just use the floating you know, the floating crypto that's passing you know through deposits and withdrawals, which is actually good from a security perspective. But if it's if they've not got the crypto and cold storage and they've they've turfed it out, then obviously that's really bad. And I think that this is going to be another one of the kind of kick up the arses to exchanges and that hopefully they'll become a lot more transparent. Well, they'll be divulging, you know, maybe there'll be a more kind of good thorough audit structure so that the exchange can prove their reserves, prove their security process. You know, kind of like how coinbase have gone and been you know, what's the word? They've been open about how they use their electromagnetic tents and stuff like that. And I think that's responsible. I mean, you can you can hate on coinbase as much as you want, but they're doing it responsibly and they haven't you know, fucked up too bad. I don't know if they fucked up for now. So, you know, they do they're providing a service and they're trying to be transparent and trying to be a good company about it. So I think that is going to be a kick up the butt for exchanges. And then also the comment that Kate Long made about the fact that, you know, the proof of keys kind of would have would have helped in this situation. I know that a few people did withdraw their Bitcoin from quadrigger and but you know, if as part of the proof of keys movement and they have been saved by that. But I think this is, you know, the interesting laws that are happening and Wyoming around, you know, the re-hype authentication and the using using of those funds to fund other ventures. You know, I think as much as people who may hate regulation, it's really going to help the community because it's going to stop people getting stuffed and it's going to encourage better behavior so that less people lose out. And I think, you know, some regulations good, but you know, as much as we'd like to live in a completely free anarchistic world, we've got to, you know, hold the hands of the regulators in order to make crypto progress. And that is actually the need and the reason for regulation. So many of these crypto exchanges operate as a black box and we have no idea what's going on inside say BTC-E. They could be taking all of the funds and gambling with them on the side to make a 10% return. They could be doing anything with them. As as you mentioned, Dan, we had an recent interview with Trace Mayer right here on the world crypto network. You guys should check that out where we talked about Caitlin Long and Wyoming and what they're doing there. And part of the goal of the new law is that if there's anything that they can profit from holding your money, that profit has to be returned to you. Right now there is no such law. So let's say Coinbase gets out ahead on Bitcoin Diamond, for example, and they get everyone in their systems Bitcoin Diamond and they grab them all and they cash them all and they make a bunch of money. And now they can run for 10 years on their profits from essentially profiting off of holding your money for you. That would be illegal in Wyoming. That's currently not illegal in other places as well as Trace said that you can re-hypothicate legally in New York. So there is going to be a question now whether you want a company in Wyoming or a company in New York or California or wherever it's going to be. That is starting to branch out. So we are seeing some results from those regulations. Moving on to the exit question. Exit question. If Quadriga QX reopened, would you use them again and deposit your money in the same vein? If Gauks reopened, would you use them again and pause your money? Go register and then back to Dan. Go ahead. I would not use Quadriga but I would actually use Gauks. So I don't know if you've been following but so there's a dispute but Brock Pierce claims that he owns Gauks and I actually think this is to me this is one of the most exciting things that I not said why don't I have to derail it should I derail it or should we talk about my own. You can do railing we can talk about it a little but we do have to put the facts back out there so we'll see how it goes. So I don't like I don't know exactly what his plan is going to be right but what I'm hopeful for is that Brock Pierce has a lot of Bitcoin and I'm hoping that his incentives are aligned to that instead of liquidating the 200,000 Bitcoin that Malkox had remaining that he comes up with some kind of system to distribute that Bitcoin back to all of the the creditors of people who lost their money in some way such as they want to get back into crypto and to me that would be a really huge win for everybody and so I don't know you know I'm speculating but to me that would be exciting and I definitely would use Mt. Gauks if it was basically a completely rewrite under completely new management under completely new rules you know yeah I would use Mt. Gauks I would never touch Rodriguez. Well I'm surprised that you would use Mt. Gauks Red but there is an interesting story developing there it looks less likely that Brock actually owns Mt. Gauks than when he had his initial announcement Carpellis has pushed back on that and Jed has also pushed back on it so first of all I'm not sure he owns it second of all if I was advising him or if I spoke to him and when I do speak to him I'm going to tell him he probably shouldn't do it if you had 200 Bitcoins that aren't damaged in any way by Mt. Gauks you don't have to do this Brock I mean it's a nice thing on paper it looks nice you're helping these people you're helping maybe the Bitcoin community maybe you'll even profit on the end it could you know works out for everybody but it does seem like an awful risk and especially a way to adopt a bunch of legal problems and whatever else might be attached to Mt. Gauks that might you know even a good Samaritan could be taken down by legal problems. So let him take the legal risk. Well I'm going to but I mean Jed McCaleb and what's his name magical tux they both own Mt. Gauks so even if Brock pitched this idea publicly and said hey you guys should just give me Mt. Gauks for like a couple of Bitcoin which they could still do they could say well we didn't agree initially but we like the idea so we're going to do it we don't have any other plans to do with the thing but right now I think he's in a whole legal trouble and I also think just relaunching it especially like I agree right it would be nice to to help those people that lost all their money but I think when they get their money back they're going to cash right out I you know okay how did they not another another thing to remember right is that with the bit thing X hack do you remember how they recovered from the bit X hack they they printed their own debt token then they manipulated the system to give the debt token back to their people at a point where they would sell it for less then they had to pay back less of their debt I'm not sure why this hasn't been investigated just on the base so do you think it would be a good let's assume or let's not I was imagine that Mt. Gox reopened and they did something similar is that a good thing or a bad thing in your opinion well it's a complex issue it's definitely good for Mt. Gox bit Fnex got to buy back their debt at a lower rate presuming that there's not eventual regulation and punishment for that that's a great deal the same way Mt. Gox if you could get these people to take 80% to take 60% to take anything less than 100% whatever you gain is gravy as far as is it a legal is Mt. Gox is Japan going to allow that all these kind of things yes it's a brilliant new debt making solution for companies but I think it's bad for the people that own the debt bad for the people that buy the debt bad for anyone else involved so good that I was just sorry I was just going to mention about about big rail same scenario where they they initially because I lost on big rail and they were going to replace the nano with 20% nano 20% of a nano back and then the 80% was going to be in like big rail shares and providing that the exchange started kind of stayed afloat after that and actually did well which you know I think could happen on the back of all the publicity that did have I know it had bad publicity but you know it still could kind of just about scrape it back and I think that's that's the same situation with Gox I think that there's a potential for Gox to make it because of the the historic name and that even though it was bad it's you know people might take the stance that Lightning doesn't strike in the same place twice they'd be absolutely you know you know lunacy to do an exchange and not do think about the security very carefully and to take that very seriously be transparent about it but then again we are very much used to seeing completely you know lunacy based decisions in crypto so I don't know it's yeah I'll probably use it fuck it Lightning Lightning is a good example but it's more of a natural system if I had a human based system and they ran out with the money the first time there's a good percentage chance they're going to run out with the money or screw it up randomly the second time I read any more on this Mt. Gox issue all right and let's go to Dan would you put your money back into Kodriga I'm not sure if we got an answer from Dan on that no not not Kodriga no definitely not I think I think that's proven to be you know a complete shit show really and with and just going back on the the fact you know that somewhat a few people pointed out that you know Brian because it is speculation it does kind of come across that that it's been that they have done like an investigation themselves it's kind of like saying you know well we're not saying it is but we've done a load of research and we think this is this is it so it is speculation at the moment but at the end of the day the anyone can be a couch you know an armchair detective and I'm not saying that Kodriga mace armchair detectives but I saw this as a critique of I think it was crypto medication who someone who was following that you know and that analyzing the the addresses and trying to pull information together based on the Reddit posts etc and I think that the that's the like the cool thing about crypto is that the Bitcoin blockchain is completely transparent you can you can piece things together you've got stuff like a tools like I can't remember is it like wallet one of the really really cool tools wallet something like I don't know it's it's it's basically a fork of like chain alice and it's like wallet explorer or I think it is actually and you can literally just see the path of your Bitcoin right from when it was mined to any exchanges it might have gone to and that's the amazing thing about the blockchain is that people kind of and and I've been ignorant to it until now about how transparent the stuff is that you're doing and you may think that it's just an anonymous address but as soon as a collective of people come together and say that this is not an anonymous address that you're sending to is actually a you know a bit treks address or so it sounds like you still could still roll or whatever that's actually think stuff is a lot more transparent than than you kind of see on the surface so it's always good to use tools like wasabi um yeah sorry coin mix coin mixing I think well it wasabi's got a great coin mixing tool on there so I can't remember but it's cool now it's completely escaped me but yeah there's always good protecting yourself with kind of fresh addresses that sort of stuff it would be very difficult coin joint there you go it would be very difficult to put money back into quadriga qx just on the face of things let alone uh Brian's investigation as Dan mentioned having coin base investigate you it's very unlikely that Brian did this investigation himself he probably was given it by someone on his staff very technical people uh I imagine they did a good job it would be very difficult to go back into that exchange uh let's move on to the final topic today issue four is bit coin maximalism bad famous bit coin or informer panelist on this very show and reis antennopolis is back this week with a new speech claiming that bit coin maximalism is bad and that power corrupts and that if bitcoins succeeded in the manner described by the maximalists we would have to build a new bit coin to disrupt that and reis described his new position at the ethereum denver conference where he also expressed his support for that project as well rent craten is antennopolis right is bit coin maximalism a bad thing um i could speak about this for a really long time it's you probably know um but i'm i'm a hundred percent in agreement with Andreas and phanopolis um i could i guess i don't even know exactly where to start on this issue but first of all basically they're very very very few people i could even name that i would even call um a bit coin maximalist like okay i i i don't want to name names um but there's somebody who's very well respected as bit coin maximalist um very well known as representing um let's call it a very exciting uh uh piece of bit coin technology and that first i have emails from that person uh you know telling me that i should be only working on the stellar network back in 2014 or whatever and you know i know a lot of people that they like to represent themselves as bit coin maximalists on twitter um they bought other coins they bought a theory and they bought like coin they bought those coin right so um you know i think that what we have is every every blockchain right there's some kind of tribalism that occurs and then naturally as humans we feel the need to fight against these other tribes right and then what is the largest tribe and the most successful and the biggest one for sure is bit coin right so if you align yourself as hey i'm a champion of this largest tribe then um that's sort of like the strongest team to be on if you if you sort of publicly go out there and do that um so i think that's where a lot of this sort of uh bit coin maximalism you know ra ra ra um has come from but even though in reality like that's maybe not even happening what people are actually doing behind the scenes now you know as far as uh let's say you know talking about it being unhealthy um i there's a lot of things i think there's a lot of myths in bit coin i think there's a myth that bit coin itself is this truly decentralized platform something network that like no one party has any control of but the reality is that there are leaders and influential people in bit coin and yes you know yes they can be replaced and if they have bad ideas we're gonna all say hey let's pick them out and bring in someone new but the fact is there there are leaders and there are also maybe we know that there was a critical vulnerability in bit coin back in September so bit coin itself um that maybe there may be vulnerabilities there it may be um possible that it could be brought down by some kind of state level attack right like there's still there's still unknowns and it's still a very experimental system but actually what the epiphany i had a while ago is that um crypto itself the whole crypto ecosystem is decentralized when you look at it as a whole so if you were to imagine let's say let's say some crazy critical vulnerability were to take over bit coin and extremely extremely unlikely sense you know maybe this won't happen maybe this is just crazy right but like none of us really know we've never run this experiment before and if bit coin were to somehow be a vulnerable to something then we have light coin is like a backup and and you know oh yes like you could say all day long will light coin will never win light coin will never win and you might be right but if the market is pricing light coin at like two percent of a bit coin or whatever right by market cap my my interpretation of that that's like the marketing there's a 98 percent chance bitcoin wins and there's like a two percent chance that light coin becomes a new bit coin right now okay you can scream up and down that's never going to happen but what i see as it sort of as a trader is i'm like well i look the market is saying there's a two percent chance and maybe in your mind you don't understand the difference between like a hundred percent chance and a 98 percent chance right and so so i think that it makes the community stronger to actually have these other crypto projects and then the other side of this is that there are actually i hate to say it there are smart people working on crypto that's not Bitcoin okay so they're good engineers there are people that are spending hours doing good work on crypto blockchain projects that are Bitcoin and you can do two things you can either shit on them right and then you basically negate all of their hard work or you can support them and we can all be friends and we can say hey like maybe the smart good engineer in this you know one blockchain like it's something useful we can support them and then that just grows our industry that much faster so i guess yeah these are these are just my reasons why i i definitely agree with Andreas on this point all right so i want to take apart some of the things that red said on the trading perspective it's difficult for me to say this because i've been with Bitcoin a long time and i still think it's number one but if i had gone with a percentage of my money into a theorem last time i would have made more money a friend of mine was sitting next to me at work told me to do this begged me to do this very politely asked me to do this i couldn't do it so from a trading perspective there may be some value to these altcoins for various reasons a theorem going into a different area with the smart contracts something else let's call it car coin goes into the car area maybe it's useful for car people phone coin is useful there's dental dental coin dental coin you can pay your dentist bills crypto kitties whatever it is there's all these things and they might be useful they might be profitable and their coin might even go up in value but for me they're all not as important as Bitcoin Bitcoin solving the sound money problem Bitcoin truly being decentralized not having a creator not having a person to go to to roll back the chain although it's possible and like red said they could put stuff in we could change to a different repository the code could move all around yes but right now i still think Bitcoin has the best chance to succeed at solving the biggest problem sound money is the biggest problem best chance to see it so i'm with Bitcoin if you want to solve the problem of like people making IPOs without having to fill out any paperwork i don't think that's a problem i think that's a potential greater problem of all the people investing in these unlicensed and unregulated IPOs i think that there is something good about the stock market there is something good about some regulators so i'm willing to keep them in position there other people might be saying no deregulating the stock market is the most important thing for me more important than sound money other people might be saying crypto kiddies is the most important thing interactive games game tokens options you have to choose what the most important is to you so i still think Bitcoin is the most important therefore it is still important to me so i'm still pretty much on the maximalist thing i think these other things are interesting but not as important and also just because andreas doesn't think you know Bitcoin maximalism doesn't mean that Bitcoin still doesn't win that it still doesn't become the world's currency and that he wouldn't still support that he's just talking about this extreme example where Bitcoin does become 100% then Bitcoin becomes corrupt then we have to take down Bitcoin like all the other institutions although i don't exactly know why Bitcoin would become corrupt because of that maybe he's saying the early adopters early adopters have all this money they become corrupt that is possible but it still seems like that's going to happen with any of these other systems there were early adopters to a theory i'm early adopters to zcoin uh just seems like are you going to choose the people that have been in charge or you're going to choose some new people i'm willing to roll the dice within new people uh not that that's going to be a guaranteed solution but i think there's a lot there i think it's a complex view that andreas has put out and i don't think he should just be torn down for this i think we can learn from this we can all expand our views be more open-minded uh dan eave the crypto raptor is Bitcoin maximumism a bad thing you know well the end of the day everyone wants to be passionate about stuff and um and especially when you've got your money and and livelihoods wrapped up in that so whether that's you know you're in fact just an investment or whether of money or it's an investment of your time you're developing you're putting you know you're putting the hours in for code for that now i think that competition's always good and without competition people can become complacent and so i think that having competition and and having other different crypto currencies that will it says hold on my beer says hold on my beer so i'm just reading the chat um so but i hold a bitcoin as well well i'm not i hold a bitcoin i'd like to so donate to nates on by tipping or some shit but um the the competition's good and i like the fact that they know that there's going to be really some some harsh ice scrutinizing the code from a different currency that i think is going to provide more pressure than it does if everyone's just coding on the same team and just you know i'm i'm not going to lie i i've i've been into shitcoin since you know since day two of finding out about bitcoin partly because i wanted to contribute to the network um i wasn't able to via mining bitcoin even though i tried and tried with different azix and they just lost me money money money so i had to go into different things in order to be able to compete and you know i end up mining uh lots my mining farm was script farm rather than you know uh uh rather than bitcoin azix um because i just had to get rid of them as soon as i was getting them and um you know there's people like the idea of mining and they like the idea of doing it at home and not having a giant mining box this game you know the some of the videos that i've got of you know my my poor girlfriend putting up with like i mean like horrifically loud miners you know and um and just dealing with it you know that's cool and she just kind of accepted that was my me trying to contribute to the kind of new world that i see with with bitcoin but it's funny i see a lot of synergies um with synergies with um like and reis being attacked for his saying that maximumism is bad and that they you know basically the field should be open to chic coin to such an extent um and that's the same it's like how people have gone back on on uh like historic figures like Churchill for example and like everything that Churchill did was bad it's like oh it's now bad everything's bad uh it's all bad because you know Churchill there was something this other thing and i think that that's that kind of seems to be creeping into to crypto bit um you know the the fact that just because he he does like ethereum as well or see valet validity in it or usage in it um you know people have now kind of said he's a complete fraud etc and and i just think that's crazy um at the end of the day an idea um it is in fact what's it some said you know even just even a stupid question now there's never a stupid question and i think that with innovation um but there's definitely some stupid innovation but but some of it is actually really good and constructive and can be used to bet a bitcoin and and actually makes bitcoin look good as well when you do see this rift of shit coins coming in their load of crap it only makes the case for bitcoin stronger and uh just to add to that championies championies you're league you're league okay sorry so uh yeah so i'm i'm i'm actually like a 50 50 at the end of the day i'm a bitcoin maximalist at heart but i like competition i like seeing i like seeing shit coins i don't like seeing scam coins all right and we'll just have to see how that goes moving on to the exit question uh force prediction pick up coin other than bitcoin uh that you either like for a technical reason or you think it'll go up in value rett craten um uh well right now i mean i like like coin i would say is one of definitely one of the top points um it has a lot of volume i i mean it's always like somewhere in the top four or something in volume um i started buying like coin actually recently around when it when it hit around thirty eight dollars so i'm i'm already doing really well on my like coin i'm up like 25% just from a few weeks ago um and the reason why i bought it actually was so okay i i mean i can pay the technical reason um if you've been following Adam back and Greg Maxwell closely some of the most influential bitcoin core developers um they spend a lot of time building a technology called confidential transactions they're actually the basically the authors of a lot of that work and so you know they they they said out publicly that they want at some point they want more privacy in bitcoin and they're going to try to push for responsible ways to include confidential transactions in the bitcoin which will be really exciting so now what we see on on twitter Charlie Lee has been signaling to everybody that he's researching confidential transactions and you know so we put two and two together and you're like okay well back when segwit was sort of um what do you call that like like experimental technology and people were scared of it and they didn't know what it would do Charlie Lee put it into um lightning first and then there was a lot of excitement and it increased the value not like in like coin first and it increased the value of like coin so i i'm predicting that there'll be a repeat of confidential transactions what we saw with segwit happened again in like coin um so you know i love big not to be clear i 100% dick points number one i always keep um a percentage of my crypto asset in bitcoin uh you know that's probably forever um but i'm gambling on life point right now all right excellent pick Dan the crypto raptor what was the question again sorry uh name and all coin that you like go ahead oh okay okay so i i'm gonna give uh i'm gonna give it going to a mini bit of detail here because and supporting the crypto the bitcoin maximism um so actually um there's to be honest my research has been terrible recently i've not been i've just been really scared to look at blockfolio not really keeping up in the news and scared about everything dropping and dropping but there was a project that i worked for called um commerce block which is soon to hit main and i you know whether we're talking short term or not um i the the commerce block at the moment it's an ERC 20 token but it's gonna become a side chain coin and actually i think in terms of the general future that the landscape i can see um as we've discussed that bitcoin is the most important it's the most you know it's the most it's the first one it's the most important it's gonna become you know the world's biggest collectible i think even even if it stops becoming a like an actual usage usage for some for some obscure reason it'll become a collectible you know be like the most scarce collectible ever because it just keeps on evaporating um and so i see a lot of um companies that have got infrastructure that's gonna build on bitcoin becoming successful and um this uh commerce block is gonna be using a token that's essentially staked like in decred um and that allows you to essentially earn tokens of the um side chains so if you've got tokenized assets like i don't know whether it's oil or platinum or gold or an art piece or something else that's a commodity for example something that you can tokenize but you know isn't right you know but perhaps amazing is a use case to directly pick to bitcoin or whatever then i can see those kind of networks that growing um and bitcoin being the the biggest one on top of it so yeah if you want to look into that it's um it's cbt pretty cool tech and they're also they wrote a bit as well bit 175 and going on the confidential transactions their side chain is actually a fork of these four of elements and they're looking at bringing in confidential transactions into their side chains as well so i think that's gonna be a big kind of um uh a big what's the word um push over the next year is is putting the confidentiality back into bitcoin um so yeah that's my uh shit coin thing all right i would agree with ret on light coin i saw the same kind of thing happening where Charlie Lee made a big announcement he's gonna put all this technology into it everyone else it doesn't really matter what the technology is it could be gobbly goobly woobly woob but they're gonna have new gobbly goobly woobly woob in light coin so the price is gonna go up so just like ret i watched it go up 38 42 45 now it's at 50 all these kinds of things and usually i just watch it um but this time uh it was in the 42 range and i was like well i'll get me some of that and again i'm bad at making the investment decision bad at how much i should put in all these kind of things but there's a little bit more now uh because of that stupid light coin so i'm agree with ret on that also uh i've said before i'm a fan of stellar and eos once again not necessarily because of the projects or the technology but of their ability to create hype i've seen more articles about stellar and IBM these are each hype articles driving the price up of course a stellar went down everything's down right now uh but again if you're looking to enter and think that they'll go up maybe it's a good time to enter but uh still bitcoin all the way but just these are fun projects maybe you'll make some money i really hope light coin guys up because uh when when i finally got my mom you know autonomously buying different cryptos she did buy a light coin at about three hundred and sixty dollars or something so i'm not in her good good books that's that's what's so painful right now you say light coin wow it's at 40 and what if it went to 80 it's still wouldn't help your mom at three hundred dollars just still in the the book and i have all the same bags of different this and that so it's been an up and down but uh let's move on towards the end of the show with predictions or a story of the week dan eave are you ready with a prediction or a story of the week uh can i can i can i have uh one of each go ahead yeah that's fine okay so just story of the week uh it was was really quite well i can bet there's a few real quick ones i'm just gonna really slam them in quickly so one first of all there was the bitcoin 80m that was stolen the levelance because they just like uh i don't know like it's hooked up a uh uh uh 80m machine to like a chain trying to drag it out and then thinking you know they've got the bitcoins uh and obviously they're just dumb as shit they say they're strong enough chain you need strong they did not they needed to use your chain oh yeah and then you could load it right on a boat there i thought for sure a canal would be involved oh yeah definitely definitely that's the the the diamond chain as well um so ubs find for tax fraud tax fraud classic um you know say every week the the the the banking industry has some form of fine given out for you know some sort of nefarious activity and you know that it's just a daily reminder of of um how the hypocrisy of you know of people from the existing you know i call it the existing financial world but the old school world of finance and and how it views bitcoin and being nefarious and yet they're so freaking clueless about you know the the stuff and ignorant of the stuff that's going on around them i mean hell even the head of the i-m-f Christine Lagarde got done for she got what convicted but no like guilty of um i could i could i could i could i could i could i could implicit in some sort of something or other but not you know i don't know and it's it's all a bit silly uh hopefully there's no liable for that it was something like that but anyway um my prediction is gonna be bitcoin hitting 40 200 by the end of that week at the end of next week so friday this time 40 200 all right he's put it on the board ret do you have a prediction or a story of the week um yeah this is so i've actually been um i've been going to some bitcoin conferences and um a meeting crypto people in portorico and um some of the most exciting people that i've actually talked to um in crypto so far is i actually just met um some poker players and it was it's really they're really interesting group of people because first of all they travel all around the world and they win large sums of money right in these events so imagine they go to like portugal they win some big ten million dollars or whatever and some poker tournament now they got to cash out they don't want euros right to come back to the u.s so all these poker players they're cashing out in bitcoin right so on top of that the the winners are extremely intelligent people so now you have this group of like world traveling uh wealthy extremely intelligent intelligent people who also are very good at handling volatility and risk management right and um you know an asset management so right now um there's so my hero as a portfolio manager there's a guy named Aaron C brown uh he went to Harvard he was a poker player he bet on sports and then he was a risk manager for a fund that was worth two hundred billion dollars okay he's brilliant he doesn't give a shit about bitcoin because it's one quarter the size of the fund that he manages right so he's not coming over to bitcoin yet until bitcoin gets bigger that's like how small um that's how small we are right now right so but we are what we are gonna get is poker on the other hand is dying out it's basically salt and these poker players are not able to make money on that game now a lot of them the really good game players they played magic togethering they played poker right now they're getting into crypto they're really smart and and the same way we see these the sort of like ground up you know lead startup innovators dilemma approach I think these are going to be the future asset managers and the people that are really going to win um at investing in crypto well I for one welcome our new poker playing overlords and uh it's funny that Rhett would mention that because I did get a chance to play some poker at a tone vays is uncomfascatable conference I famously played against many uh professional poker players including Doug poke fill lack and Jennifer tilly uh so check out the world crypto network today we've got a great little uh very short uh interview that I did with Phil lack in Jennifer tilly uh after I got bumped out of the poker tournament uh it was a fun time I agree with Rhett they do have a large bag of money the ability handling risk uh all that kind of thing seems like a good fit and also a convenient way to cash out the funds um just what I've been up to this week I think I'm almost done moving uh we're getting ready to give back the rental house so we're starting to clean it uh better than we ever cleaned it when we live there it's so I can't wait to be done with that uh I've moved all my stuff from Sacramento to Vegas so I have my books with here oh my god come as I tell you I just had to kick out a squatter it was like the worst thing uh really the vice-quatter is gone you can have a squatter no no no one figured out that the the other house has been empty for a little while we've just been going over there every couple days to clean it um but yeah that would be awful with a squatter and of course I've seen the movie pacific uh with Michael Keaton where he uh nests and basically infests the house and steals everything and it's pretty tough to deal with people but uh yeah it's a nightmare to move uh I moved at least a thousand books uh here into the new house up the stairs down the stairs up the stairs uh all that so I can't wait till that's over uh we're trying to get back on a normal schedule here which means Monday morning Bitcoin talk show so if you want to call in ask your questions get on the air live we're doing that every Monday at 9 a.m pacific time till about 11 then Wednesday we've got the proof of work interview show right now I've still got a bunch of those in the can from the uncoffed scatable conference we're gonna be putting those out once a week and then Friday we're right here with the Bitcoin group uh so we're trying to keep up that schedule right here on the world crypto network that's my content anyway uh we've also got max has been producing lots of how-to videos uh so check that out some of them are pretty technical and uh shout out to Ben uh BTC socialist has been making some great how-to videos uh about how to make like a little uh sweet machine uh that you can pay with lightning how to make a little uh Bitcoin price check tracking uh program little hardware device uh interesting stuff and he's got a really cool Bitcoin layer uh underground layer kind of thing going on so check that out right here on the world crypto network uh be sure to subscribe down below give us a thumbs up and a share uh if you'd like to donate money uh we're still raising funds so I can participate in the poker tournament I did participate in the poker tournament uh but I lost all my funds so if you want to donate some Bitcoin uh you can scan the QR code right here this is tally coin uh anyone can use tally coin to do fund raising you just bring your own Bitcoin address and say how much you want to raise it tallyco.in uh we've also got the paid for do you have lightning do you have lightning setup like uh I haven't turned on lightning come on I have to oh yeah I have to go use that uh geez what is it you have to go use the centralized service so that everyone can be decentralized all wait all wait till it's actually decentralized or we could pretend everyone's pretending oh I'm pretending to use lightning but really it's open no dot com or something and then everyone's excited about tipping dot me it's just change tip I'm not impressed uh but if you want to donate with Bitcoin I still accept that I'll work on taking the lightning but again the lightning thing there was a great thing with the whole not guy was like 20 people sent me lightning donations and now I have 20 cents thanks a lot guys you know I can deal with the 20 cents maybe send me five dollars huh also if you want to sign up with credit cards we've got the patreon uh we're down to 38 patrons uh supporting us with $219 a month uh so obviously we're not going to break even if you like the show uh donate funds find someone richer than yourself ask them to donate funds uh spread the link uh do some social media for us etc etc uh because we like doing the shows uh but it's very tough during the bear market uh so I think that's about it uh rent then anything else you guys want to add I feel like I talked a lot at the end I'll give you guys a chance all right we're all set then uh give us a thumbs up in a share until next time bye bye