The Bitcoin Group, the American Original. For over the last 10 seconds, the sharpest Satoshi's, the best Bitcoin's, the hardest cryptocurrency talk. We'd like to welcome our panelists, Josh Kigala from Valtoro. Oh, Hadiho! Rhett Cratton, Shipcoin Tollogist. Hi, thanks, Adam. You all great to be here. So good, man, from Proof of Work Media. Good evening, everyone. And I'm Thomas Hunt from the World Crypto Network, moving on to issue one, Facebook coin. It's back again, and this time, it's a blow to Bitcoin, at least according to Forbes. Facebook, fresh office series of scandals now seems ready to transform their share your personal data with advertisers platform into a privacy platform, citing the unmonetizable WhatsApp as their model, Facebook plans to maintain control over your data, even if it's allegedly end-to-end encrypted, forcing them to abandon the share your personal data with advertisers model. Perhaps Facebook will make up for their lost revenue with Facebook coin, a private coin that will likely be exchanged on WhatsApp. Josh Kigala, your thoughts on Facebook's turn towards privacy and their brand new coin. Will it work? I mean, I think it's a very clever way to transition from the selling data to full encryption. If they do everything that Mark posted in his blog post, I think Kudos keep falling down that CypherPunk rabbit hole because it's an important rabbit hole to fall down, especially if you're such a leader in the internet. I think the only way a Facebook coin would work, and I think it could be a very big potential, is if they make it truly decentralized and that they can't reverse things. Otherwise, I'll just become another PayPal, and they'll have a massive overhead of reverse charges. They'll have to be there on the courts. They'd have to do all sorts of jazz. It just blows out, which makes the cost of using the network expensive because they have to pass those costs on. But if they did it by buying ads, by creating a coin, I think it could become one of the most valuable companies in the world. You're creating your own, and we shouldn't, as people in the crypto space and Bitcoin and Maximus Types, or be silly enough to go, well, their network effect doesn't matter. Bitcoin's going to win out. Sure, will, but damn, it'll definitely compete. The problem is, if it's fiat backed, well, fiat's going to fail. It always fails, so it's going to fail. But if it's true decentralized thing, and somehow Facebook keeps a bunch of it, they could become a very, you know, I mean, they're already massive. It's not really big a, you can get, but it would be a good transition away from selling people's souls. Another PayPal sounds likely. Oh no, my Facebook transaction got frozen. That's great. Exactly. I thought those were some really great points. Number one, I think that Facebook actually is growing into a very powerful platform, even though most young people are not using Facebook, the platform, per se, but we're seeing Instagram is pretty much grown, you know, 2X in the past year. And that is, I include that as Facebook, their whole suite of products. You know, you, we know that you can't really trust Facebook. I don't believe anything that they say publicly, but we also know that if they do actually build any kind of crypto token, that will probably be a great on-ramp to Bitcoin. They're definitely are going to be exchanges that are going to be trading whatever Facebook's token is with Bitcoin pairs. You mentioned that, well, you know, you think that they should make one that would be truly decentralized. I don't think that's really possible. If they did, it would be called Bitcoin. And you know, the best possible scenario, I think that we might be able to see is if they, but you also mentioned that they modeled something off of like the Binance coin. I think the Binance coin is actually a crypto token. It does have some use case. It's not entirely a shit coin or snake oil. There's some value to it. It's not backed by Fiat either. And you know, it has a billion dollar market cap. So that's probably the best possible model if Facebook were to look after something I think they could try to pursue. I'm not even sure they'll allow it to be traded off of Facebook. I know they've been discussing with exchanges to list it, but it's supposed to be based on a basket of foreign currencies to say stable. If it's going to stay stable, why would you want to list it? If it's not going to be stable, well, then you definitely want to list it. Theo Goodman. Yeah. Well, hey, guys, is there a sofa over there? I think I found a stable coin because there are stable coins everywhere underneath every sofa now. Everyone is launching a stable coin. They're really around every corner. And so they're going to have one. That's the cool thing to do. That's the new thing to do. And you said it's going to be backed by a basket or some other kind of mechanism. I mean, a stable coin is only a stable as the company that issues it. Facebook is pretty big. So for Facebook to go under and not be able to honor their stable coin, IOUs, that would be a pretty big deal. So maybe for that, it's OK. I don't think they're going to be able to do a finance kind of thing. Because I don't think they're going to be able to have any kind of speculation or security ask kind of thing related to it. However, they might be able to do it like a stable coin and still not have it totally like PayPal where they reverse a lot of transactions that could just have it. If they figure out this address is associated with criminal activity, they can freeze it or something like that. I think they probably have to be able to do that if they're going to access it. If they start reversing everything, like Josh said, that's going to be so much work for them and it's going to kind of defeat the whole purpose. What I could see happen though, I don't think I don't look at it at all like the article and I don't look at it as competition. I look at it as Facebook becoming the gateway drug to Bitcoin and hard crypto. That's what it really is. Because people will be on Facebook and they'll be like, well, that's pretty cool. But I want to really do something with it. Hey, how come I can't buy what I want with this? This is kind of weird. Or how come I can't take it off the platform or my friend got his frozen. He's not really a bad guy. And they'll have those experiences. And they'll be like, hey, I want to get Bitcoin or I want to get whatever other kind of crypto because I had the feeling that this has potential. But they got the miniature version, the introductory drug version to it. So I think that it's going to be a gateway drug. And I also think that Facebook has a lot of data, right? That's perfect. It makes it real easy for them to do KYC AML. Why not be able to buy Bitcoin and other crypto right in the app right with Facebook coin. Sounds perfect. Another gateway drug. I want to go another round on the privacy issue. Now years ago, before Facebook was really famous and popular, I was in San Francisco at a party thrown by a friend of mine who worked at Oracle. And I met some people from Facebook. And at the time, I was very pro privacy and I encrypted my email. I'd written a how-to guide. I was trying to get all my friends to do it. I very much could see the writing on the wall that Facebook would suck up everyone's information, scan through it, sell it to the advertisers. We'd all be the cheaper and the poor for it. I always thought that social networking should be a protocol like TCP IP where you could share packets, packets of social networking data. Things like Twitter and Facebook could all be interoperable and then challenged by other people. But at this core, they should encrypt the data so that Facebook can't read it, the advertisers can't read it, and even Facebook's engineers can't read it. It sounds like Zuckerberg is considering going that way after first, blowing up the unprivate platform, scaling it back down, then perhaps using all the money they got to build the actual private platform just so he can be number one, not even to monitor your data, presumably. One more round just on the privacy issue. What do you guys think? Will Facebook do it? Can they do it? Should they do it? Josh Kagala. I mean, he mentioned it in his blog post, Zuckerberg, that there are bad sides to anonymity, which we all know, of course, those criminals. But what I really liked is that he really, truly understood the value of privacy and I think being a multi-billionaire, that's what he said anyway. He does now. I believe he's saying the right things now and maybe he'll even do the right things. I just have such a hard time. This is the guy, I remember the quote, people shouldn't trust me with their information. They're stupid. This is the classic guy. He'll say whatever the time is. He'll say. Yeah. At the end of the day, we need to use protocols that are open source so we can truly vent them. I don't know if WhatsApp is truly encrypted to them without a back door for the NSA. I don't know. I'd hope not because again, it causes a lot of work because if you can look at it, then you're obliged to. And so we'll see what happens. I don't give too much value to it. I don't like Facebook. I think it's a scummy network. But I think that I'd be stupid to put my head in the ground and go, no, no, no, they're not, they're not, they can't a change and be they're not a, they don't have a chance with cryptocurrency. I think they do because of the network effect. I mean, this is what Bitcoin rides on. And they're, they're basic core functionality sharing photos and status updates. Doesn't necessarily have to have access to the data. It gets rid of all of the ability. You don't have to censor anything like Josh is saying all the nasty dirty stuff. You just let that all happen. Let the chips fall away. They may you say, hey, it's our platform. We don't control it. Rhett, what do you think? We'll Facebook do that. Can they be the forechan of social networking? No, no, no. Facebook is a trusted network. They always have been, I could say, I mean, we could go on, you know, for a really long time about this. If you actually do trust Facebook with your privacy, you're being very foolish. You know, we could put it this way, Diane Feinstein, she's a very powerful senator. She's on some intelligence oversight committee. And she's jealous of the information that Facebook has access to. She said that several times, right? She wishes that the government like had the amount of data and information on people that Facebook has. The Facebook is required, the executives are required to make very tactful legal and marketing speak when they make any kind of statement. They can be fine. They could be sued or even have any criminal charges for saying otherwise. It reminds me of I knew some people that were working very closely with Gmail in the early days when they were setting it up. And it was incredible. In Yahoo, even Yahoo Mal, somebody told me there were literally two people employed at Yahoo Mal, who their whole job was just to deliver information to the FBI all day long. And the reality is that these corporations, they're complying with the law. So when they're asked about how do they handle privacy and this and that, they make a statement that says, well, we take your privacy seriously and we comply with the law. And the reality is what that means. If you saw it with your own eyes, you would see vast amounts of data being handed over and shared around with various organizations, whether government or otherwise. So the only kind of platform, if you truly want to use a trusted or trustless platform, and what is that word you can mean, right? The largest trustless social platform today is with any kind of currency is Bitcoin. Email, of course, started out as some kind of decentralized product, right? But there wasn't a lot of privacy built into it. So yeah, I just think very foolish. If you think that you can, no one here is lawyers or really, I mean, not much is that, but Facebook is going to say things in this very specific legal language. And it would be foolish of us to sort of bite into that at face value. The real question here like Rhett was saying is that maybe the law is incompatible with cyberspace. We have laws that say that government has to be able to see the data or we have laws saying Facebook is liable for the data. So if it's nasty and dirty, they get sued, et cetera, they have to control the data. It hurts people's feelings, things like that. Once you take that all the way, you have a product operating seemingly like Bitcoin, just on its own doing what it wants. And that's what we want on, you know, cyberspace and with the cypher punks and these people wanted, but it horrifies the other side like you're saying, Diane Feidstein, imagine if they took that information away. You had access to the Facebook feed, you were getting all this wonderful news and all this advertising data and then Zach pulls the big switch and it's gone. I can't imagine them doing that. Theo Goodman, what do you think? Facebook goes private? No. I don't think so. And I think it meat private, private on what level? So we, people mentioned private as far as sharing information with the government. They're not going to be able to get around that. You know, the FBI is going to be able to get on the back phone to Mark and say, hey guys, give us the info. Whatever. Unlock back door, code 115, whatever. That's going to happen. But I mean, they could definitely make compromises on a product like a messenger in regards to sharing information to advertisers. They could say, okay, look, and this silo is the old school Facebook and you can do cat pictures and show off and brag to people. And in this silo, you can't and you can't get advertised to either. But you could buy Bitcoin and we'll charge you a really high fee or something like that. You see what I mean? So I think that could be maybe he's, that's the way I would, that's the way I'm seeing what he's trying to say. You know what I mean? I don't think so. There's different way. Yeah, privacy is like making it more private. So maybe I can have like my encrypted, encrypted Facebook group and I can post pictures of me of me when I'm really wasted and I don't have to worry about my boss seeing them because our whole group is encrypted to him. So it's private in that sense. Because that's also a big worry for people like people that are, you know, you apply for a job to check your Facebook out all that. So there's different realms of privacy to think about. There's no way that a public company in America is going to get around sharing data it's going to be really tough for them to do to, to not have any kind of back doors, etc. And you could still encrypt all the data but just give one of the keys to Facebook. All of our data and encryption, we're just holding one of those keys just in case we have to read your data. So I think it's going to be very tough for Facebook to turn this around and to go that other direction. But again, is a business at least a US funded business capable of building what the people really want or need? Is it going to come from a Dow, a decentralized business? Is that where it's going to come from? We don't know, we're going to have to see. Moving on to the exit question, how many years before Facebook abandons their private coin in exchange for Bitcoin that will be universally acceptable, providing benefits to all who use it, business and customer alike. Josh. I don't think that'll ever happen. I think someone, if they become open, I think someone will write plugins like they do with tip bots and things. But I think Facebook is, especially if they go private, they need to silo, they need to basically get the revenue to stay such a big company from having their own pre-mined coins and releasing. If they go that far, I think they're not, I think they're going with a, with a, a feedback thing. So, feedback will probably collapse. I mean, we're starting to see shakes all around the world. So, you know, it's only a matter of time. Maybe then, maybe then. But I still think then they'd rather jump to their own coin rather than Facebook, which is annoying. But I think places like Amazon, for instance, I think if they accept crypto or Twitter embeds it more because of Jack, I think there's the potential. I think Facebook's a lost cause to try and say, hey, you know, make it a base currency on Facebook. I mean, it's interesting because I had an interview with the CEO of Kik not too long ago, and he was talking about producing a coin kin so that they could compete with Facebook. And he saw the only way for a small company like theirs who has a lot of users, but isn't Facebook, to compete was to print this currency and to get that value to see Facebook literally steal his strategy while he's still working out the legal issues. And they might have been be using the meetup that we had in the legal trials because of things they might have said. But what do you think, Josh, Facebook just stealing from kin at this point? Is that, and it'll work, right? Yeah, I definitely. I mean, these are test cases. These are Petri dishes. And Facebook, I mean, look at them. They steal, they stole the stories from Snapchat or whatever. They stole the time out. They still left right in center. I mean, I don't know why. There's stupid coming in. They should just buy these things. They're rich enough, but anyway, they steal all the time. So yeah, definitely. Why buy it when you can steal it? Rhett Craton, how long before Facebook abandons their private coin? Well, if they have a private coin, that coin can have floating value in the used speculation. So if, for example, they believe that they can add value with whether through technology or marketing efforts or just increasing adoption, then they, through speculation, they can then potentially increase the value of their private coin. And I think as long as they're interested in doing that, then they will keep it separate from Bitcoin if that's something they're interested in. At some point, it'll obviously have a, like I said, some sort of Bitcoin. Facebook coin trading pair. And if at some point in the future, they are no longer interested in trying to increase the value of that coin, just like today, they're interested in increasing the value of their stock. If they decide, well, that's not something that really interests us. We really just needed the sort of payment infrastructure. Then that would be a reason to do a swap and just switch everything over to native Bitcoin. But just like the stock market, like they're interested, they don't just say, let's swap out, trade out all of our stock for dollars and we'll just run, I don't know, Facebook on dollars or something like that. They still, you have their stock. And if that's something that they're interested in with their token, then that's, then they'll keep it until they want to swap it out. Theo Goodman. Yeah, they might go to something else. They might go to Bitcoin, but not before they first went to Pepe Cash, Bitcoins and Crops. So first, it would be that order and then they would go to Bitcoin. So that might, that might work. Another way it might work is if they did a overt or secret pre-minded, it was discovered in everybody, dumps Facebook coin and goes directly to Bitcoin, it could also work in that case. So as are the two concrete cases where I see it could happen. The answer is three years, three years, but they won't get rid of Facebook coin. They'll offer it alongside Bitcoin. And that's when you'll start to see how truly weak Facebook coin is. Imagine Facebook coin. You can spend it at Facebook, but Bitcoin, you can spend anywhere. They'll offer them both at the same time. They'll continue offering Facebook coin, but it will get cheaper and cheaper and cheaper while Bitcoin goes the other way. Moving on to issue two, issue two, Ethereum to outperform. A New York-based digital asset research firm filed a report this week on Ethereum, claiming that the second most popular crypto asset may rise even more than Bitcoin, if there is another sustained bull market. Meanwhile, the new Samsung S10 phone has been released currently lacking Bitcoin support, but it takes Ethereum. However, crypto researchers have been highly critical of Ethereum's recent move from proof of stake, saying that it simply doesn't scale. Yet, Creighton, do you see a bright future for Ethereum? Or is this just another perfect storm of hype and boulder dash? Oh, God, this is just so funny. The topic literally sent a tweet yesterday where he says, I'll just read his tweet. He says, I am personally and definitely uncomfortable with these mooner bus shots with Ethereum, because Ethereum can be the number one cryptocurrency at a price of $100. We need to survive there too and provide the value that people expect blockchains to provide. Yeah, so basically what Vitalik is saying is he's totally comfortable with $100 Ethereum, because he's rich enough already at $100 Ethereum. The rest of the thread is like, what? No, no, no, we need Vitalik. No, no. So look, I don't want to say Vitalik just told us the answer to this. It's not going over 100. And so the guy, the man has spoken. So he's totally happy with it. He's rich enough. I'm sorry you bought the shit coin. It's better. You know, you've got a premium right now. It's like already 130. Get out. Well, it's 130 because Vitalik already told you where the top is going. So yeah. Well, see if Vitalik has that much control. Theo Goodman. This is not investment of vice. First of all, it will probably do the exact opposite of what anyone says publicly. So whatever they say publicly, it'll do the exact opposite of that. It's all about time. The question is always when. The whole problem or not the problem. The whole thing with markets is timing. Not if it will go up or if it will go down. Well, both will probably happen to most assets. Question is when. That's the whole thing. Timing. That's the whole game. That's the difficult part. So I mean, if I was someone like Vitalik, I would probably say the exact opposite of what I thought the price would have would be or maybe I would just say something fun to get attention. I have no idea. I wouldn't take that really. I think the article. Is has some merit to it in that, you know, look, regardless of what. Technical. Things you think of a theorem that it can scale or not scale that it's. The supply of it, how they do their cover, their quote governance and nick decisions about forks, all that stuff. It doesn't matter. They have a huge community. They have a huge network and it only matters that the technology works good enough. And if you have a big network and the technology works good enough and people like it, well, they might subjectively say this is gold and that's fine for them. You see what I mean? It doesn't have to be perfect to go up to go up or to survive or in all this stuff. It just has to be good enough. And there are a lot of developers. So however broken or however perfect it is, depending on what you think about it, there are a lot of people working on it. So that's usually a good sign, a good healthy sign. Look at that. Compare to any of the coins under number 50 and coin market cap, but the number of people building the number apps as useless as you might find them. It doesn't matter. It matters that somebody finds them cool. It doesn't matter. You see what I'm saying? So that's the whole thing. And also, in my opinion, whenever there's something that has really, really strong pro and contra opinions, usually that stays around a while too. You see what I mean? It gets people riled up. They're like, oh, I want to hate it. I want to love it. You know what I mean? There's a real big attachment to it. An emotional attachment to that. So regardless of what you think about it, I think it'll be around. Josh Kagala, time to break the tie, Ethereum going up or down. Well, I mean, I think anyone that, first of all, I want to know if this guy's testing sort of conflict of interest laws, because he's obviously, you know, bought a lot of Ethereum. I mean, anyone revolutionary child genius, he's testing all kinds of areas. Amazing. So anyone that sort of says that and know what the price is, especially now that there's a million shit coins, I wouldn't put Ethereum with the, with the shittiest of shit coins, because it has a large net worth of X, been around a while. It does have people that are developing and stuff. I don't know how useful these projects are, but just come out and say that it'll be worth more. When there's obvious competitors in that space, like EOS and Neo and there's other one in there, there's so many of these blockchain-based cryptos, I don't know, say that. I mean, they have blockchain-focused, blockchain technology-focused instead of money-focused. There's a lot of them now, and so we'll see, I don't know. I mean, I just don't buy anyone that tells you it's going to be a certain price. I think that's... I'm not saying it couldn't, it could. I mean, you know, anything's possible. This market's crazy. Moving on to the exit question. Ben Bitcoin rises. Altcoins also rise. Rhett Craton, what's your pick for an altcoin that might rise more than Bitcoin? Oh, wow. Okay, so yeah, I should also mention this is not investment advice. I hold a basket of shittcoins. I hold some Bitcoin. A shittcoin that might go up higher... Higher trajectory than Bitcoin? Yeah, yeah, there's a short term. I mean, there's a few last time actually we mentioned Litecoin and Litecoin, I think, has been doing pretty well in the past few weeks. So that's definitely in my basket of shittcoins. I also have some finance coin and that's been a highly volatile. I think it's down 10% today. It's been up and down. A big part of the reason is because of this launch platform. I've heard some buzz about it. It was actually like a week ago. I had some people telling me, oh, I'm doing great. I'm making money on this new finance launch thing you got to get in. And then like three days later, I'm like, all right, I'm ready to tell me about it. And they're like, oh, shit, I lost everything. Don't do it. Don't do it. So, you know, there's something going on with that. Those are going to have in the stock traditional stocks they call that beta, I believe. So basically a Bitcoin goes up. If the higher beta, I think means that you go, if the market goes up, you go up faster than the rest of the market. If it goes down, you go faster down. So like, like coin and Binance will probably have higher beta than Bitcoin. Theo Goodman. This is not investment advice. Either could have a higher market cap, Pepe Cash, Bitcoin's definitely, you know, got to always watch out for them. And anything with an overt pre-mind. No, pre-minds are bad. Josh Kigala, what's your pick for an alt coin that might rise? Hmm, I think in-game items are kind of interesting because in-game items are native. Like it's very hard. You know, we're in the middle of trying to tokenize gold after years of not tokenizing it and having a look at the technology to do that. And it's really, really hard to tokenize something that's in the physical space and tie that. There's a lot of things that need to happen for that to happen properly without too much risk. But in-game items are native to the internet. They can be tied very easily. And people spend a lot of time mining these crazy items which they hold dearly, these in-game items. And it would be cool to be able to trade that. And I think there's a token called Wax. I haven't bought any, but I think it's interesting because they talk about tokenizing these in-game items and having like a steam type platform. So I think that could probably work. But all these kinds of talk about blockchains are more important than crypto. I think at the end of the day, all blockchains do is create currencies, create different, even though they're not currencies, they're keys, they're still passable. So that's what's interesting in these tokens, projects that are just blockchains. I mean, how many times a day do you need a blockchains? You need an immutable data, but it's not very often. How many times do you need to open your wallet to pay for something a lot? So yeah, there's not that many. In-game items sounds like a good idea, although I don't know that it's going to be an external currency coming in. It seems to me something like on a game-by-game basis. Like if you were going to make a new version of Diablo, just make the coins a real coin. And then when people trade the coins, they could trade them off the side or somewhere else. You have to be pretty forward thinking because once again, those Diablo coins could be used for anything, not just the video game thing. You could trade the sword to some bad guy and the bad guy could do bad things. So the world's going to be complicated like that in the future. I would agree with Rhett. I think Litecoin has the magic formula of Charlie Lee making good announcements about technology to convince people that it will go up in value. I don't believe that it has any use, but not financial investment advice like everybody's been saying. These are just our opinions here. Also been a fan of Stellar for a while. They get a lot of good news out of that IBM thing. EOS, I don't know, but still the altcoins are cheap. Maybe they'll go up. Who knows? Check out the World Crypto Network podcast on iTunes or wherever you listen to podcasts. We've got it all over the internet. You can listen to the sound of my voice and not have to see me on the World Crypto Network audio podcast. Issue 3. According to a new 73%. According to a new study from the financial conduct authority in the United Kingdom shows that 73% of Britons have no idea what Bitcoin or cryptocurrency is. The report continues saying that crypto asset owners are generally looking for ways to get rich quick. And we're convinced to buy crypto because of the advice of friends, acquaintances and social media influencers. The report also warns that investors should be prepared to lose all their money. Theo Goodman is the situation for crypto really so dire. And what can be done to further spread the word about cryptocurrency in the United Kingdom? I think this report is just a good job of spreading crypto currency. I mean, okay, so just think about this. If the police say, don't do this, it's really dangerous. You might take a look at that. You know, if your parents say, don't do this, you might say, why? What is this? Why are you warning me about this thing? So all the people that miss the wave are going to be like, hey, why are they saying, don't look at this? What's so dangerous about this? Dangerous is good. That's interesting. People like dangerous. This is a great report. People like danger. And the government has to say, I mean, that's their job. You could get into philosophical debate about government. But they're supposed to warn consumers, hey, you could lose everything. And that's not untrue. That's not a lie. You definitely could lose everything. So I don't have a problem with anyone saying that you could lose everything. And I don't know the research they did. So I can't say if it's accurate about, you know, people heard about it from their friends or social media influencers. I guess they're trying to say they didn't do, you know, quantum analysts and they didn't, you know, go to university and study for five years. And then after that, buy Bitcoin, you know, what I mean, they just, you know, they went with their gut or they took a risk. And so I think this report is not necessarily negative at all. Of course, some people are going to be scared away from it. But I think more people, it's going to be like I said earlier, kind of like an introductory drug. It's going to be, it's going to make it attractive. It's going to make it sexy. It's like, hey, that's dangerous. I want to get on that. I heard about this dangerous thing. They don't want you to do. And people are going to see that. And after a while, that's what backfires. That's how a lot of things happen. Bitcoin is dangerous. Stay away. Josh Kekala. I mean, it depends which country you're from. You know, it's a speculative vehicle if you don't really need to use it. If you're, and actually this slide, I don't love the whole store of value argument that it's just a store of value because that inherently makes it a speculation because you're speculating that it will store its value. And so I do think it's important in countries where it's used as a meeting of exchange, where it's used to settle transactions is really important moving forward. And this is where the Lightning Network comes in a lot. So if you are in countries that have high inflation and most of South America, we always talk about Venezuela, but there are a lot of South American countries that have got massive inflation. We sort of, I'm always blown away. You know, like, you guys have only got 20% inflation. Wow, you're lucky. We've got 150 or whatever. It's amazing all around the place. So in these countries, the good thing about Bitcoin is we will succeed. Why? Because if you're speculating what a hold for value, if you're not into that, you're into the technology. If you're not into that, then your government is screwed and you're using it because of that and cross-border payments. You know, there's just every which way you look at it. Even if you don't like any of those, your friend wants to pay you and everyone starts falling down that trap. So you just accept it. And so any which way it happens, I don't buy the argument that it's just purely speculation and it always will be. I think it will definitely, there will be a definite bet of a thousand shit coins that are a casino, that are a casino. But I think that will rise this one solid crypto or maybe five or six, but yeah. Right, Creighton. I think that we've kind of tapped out our current network that exists in crypto Twitter. And you know, that we usually interact with. I don't really see a lot of new money coming in from there until something else. Barks influence. One of the things I've been trying to point out to people, like there is a lot that's happening right now in social media as far as Instagram and YouTube and Twitter. And when I talk to people who are over 30, they've never heard and I talk to people in crypto Twitter on my own tweets. No one that follows me on Twitter has either heard of Liza Kashi or David Dobrik or the Vlog Squad, David Dobrik or the Vlog Squad, right? These people have 10 to 20 million followers on Instagram. No one in crypto knows who they are, no one over 30 knows who they are. But guess what, all of the 20 million followers that they have, those people have also never heard of Bitcoin really, maybe Barely, right, or crypto. So that's where our next reach is really going to come from. And what exactly was the exact question again? Oh, we didn't help spread the word in the UK. Yeah, how do we spread the word, right? I've got it. So, okay, well, how do you spread the word, right? There's like, there's a few ways to spread the word. You can be like, oh, who are the most influential people in crypto? You know, there's some cool people. Andres is really influential. Matt Dickoyne is really influential. They've got, you know, 20, 50,000 followers, 100,000, whatever. Or you can look at these people that have 10 million followers, 20 million followers. You get Liza Kashi to do like a funny, basically like a Bitcoin skit. You get Liza Kashi to say Bitcoin. And then all of her 20 million, really followers in the UK and everywhere else, hear about Bitcoin. Yeah, that's how you reach people. Now it is. I think, I think globally. I don't know. I don't know if I want people that just do whatever their instant media followers say, oh, it said Bitcoin on my instant media accounts. So I'm going to go get some. I'm sorry to break into you, but that's who most people are. I know. These are the people that don't watch black and white movies. They don't read the history yet. It's available. They don't study the past at all. So yes, we have the amazing internet and the greatest possibilities of anyone to be educated, but we have no interest in actually being educated. So yeah, like Rhett was saying, we need to send mad bitcoins to the United Kingdom. That will change it. Wait till they do the next study after mad bitcoins. The effect will have happened. I'm going to be there two or three weeks. I'm going to go to Stonehenge and Castles and Coinfest in Manchester. Check that out. If you're around the UK, we're going to go to Coinfest in Manchester. Well, let's move on to the exit question. Exit question. We all need to do our part. What kind of grassroots Bitcoin action works for you? Meet ups, handing out fires, talking to businesses and Uber drivers or other. Theo Goodman. Other. No, I'm just. Yeah, yeah, yeah. No, no, no, no. Yeah, yeah, yeah. No, I thought this was the exit question. You should only do ABC or D and that's it. Yeah, I think Meet ups are cool or whatever, local events. That kind of thing. You don't have parents. Meet ups are free. They're informal. You can just go if you have time. There's probably one in your city or nearby where you are at this point. So, you know, that's a good place. And I think that there are people are pretty open-minded and you know, you can get to know people maybe for the first time if you go to a conference that's kind of big and if you don't know someone already, it could be kind of annoying. Just depends on the conference. So, they're totally, they're a way different ones. But yeah, I wouldn't say Meet ups are cool. So go to your local Meetup. Conferences, Meetups, real world Meetups, how strange theo. Josh, Josh, good gola. What do you think? What can we do? I really like some of the career stuff where you just get a stamp, buy Bitcoin stamp or something just stamp every bill, every fee bill. Just get the word and just what the hell is that. But, you know, as annoying as it is, and I don't always do it if I'm with someone because it just can fall down a rabbit hole but just ask every shopkeeper even if you know, just sort of say, can I play with crypto? And then I, and then sometimes it's like, you just get these long winded conversations out of it, which are interesting for me, but if I'm with someone like my wife and it's like that. But yeah, talking to people, getting them to accept, hey, have you looked at it, you know, it's for giving them the virtues of Bitcoin, talking to people about it. I think it's still grassroots number one down there, you know, because then they might go to a meetup or tell them about meetups if they do go on a massive rant. But yeah. What's so funny is to see how it's changed. Initially, when we talked to businesses, they would be like, oh, that's a dirty drug money. That's Silk Road. Then there was a period where it was up and they're like, oh, I wish I took that back then. If only I took it, oh, I could have sold a hamburger and had a Bitcoin. Oh, now we're in that downturn. So they're like, oh, I can't take it because it's going down. Oh, if only I had just this whole thing where it's like, yeah, if you always think that you're always going to be behind the trends and they're always chasing the next trend. And if you don't want to do that, you have to make a choice and you have to take a risk. Creighton, what do you think? What direct action works for you? Well, I love meetups. That's a really great start. I'm also, I have a few projects I'm working on in Puerto Rico. One of them is going to be either a food truck or a restaurant and it's going to be crypto themed in some way. And an idea that I have as kind of a gimmick for education is to have a block explorer display, like a Bitcoin block explorer and have something like, okay, every, every Xbox, maybe every six blocks, we give away every meal. And so that's a way to actually, even just that, like educating people about what Bitcoin blocks are, I think that's a great way to educate people. If people otherwise wouldn't really have any access or really know anything about Bitcoin, and you're not really requiring, you know, accepting Bitcoin as payment merchants that do it, honestly, they see like one transaction a week, one transaction a month. We know that that's really small. Everybody likes to do it. We probably accept, technically accept Bitcoin at my food truck or restaurant just because everybody's going to ask, why aren't you accepting Bitcoin, but the reality is almost nobody is going to use it likely. But, you know, I think that there's other ways to still educate about crypto and Bitcoin in that way. So just having a space where it's, where it's, it's okay to talk about it and ask questions. I think all of these are good ideas. Like everybody's been saying, meetups are great. I've been to a lot of meetups. I helped run the San Francisco one for a while. And if there's not one near you, or if the one near you's been taken over by B cashews or something like that, I'm giving you the ability to start your own meetup. There you go. You have it now. You're like the Tin Man or the scarecrow, whatever it was. You have the courage. So, and the same thing, handing out flyers. I've got some good flyers. I put them on the internet not too long ago, but I think I lost the link to them. I need to make a better link to them. But we've developed some nice open source basic flyers. You can make your own open source, basic Bitcoin flyers. Like Theo was saying, maybe stickers put stickers around, put signs around, talk to businesses. Anything we can do, especially during this downtime. Because like Rhett said, if we could get one of these Instagrammers to mention Bitcoin, their followers will all get into it. But I still want, and then the banks are on the outside and the stock market people. They're on the outside. They're like thinking about it. But that's not really who we want to get Bitcoin. We want normal people to get Bitcoin. Then they have a chance of holding onto it when it goes crazy up. If it goes crazy up, that would be my preference. But once again, the bankers have the information. They have the money. They know how to invest. They know how to gamble a little bit of their money, not all of their money. They can compartmentalize. They have a lot of skills that maybe the normal people don't have. So if Bitcoin doubled, the normal people would probably sell. But at least they've got a double out of it. Moving on. If I could just quickly say with the restaurant thing, not only getting a few businesses, and this is typical businesses when they accept Bitcoin, they really get hard to any transactions. But this is a good thing, guys, because you don't need to sell the Bitcoin straightaway. You can hold it because what the hell, burger, what's that going to do? You're going to be able to do business back. If it's one transaction a month, you think of it like you're giving someone a free burger. If it's the worst case scenario, you don't need to catch that. Yeah, if you're doing higher ticket things like cars, obviously you need to use someone like BitPay or someone that transfers to cash. But having that sticker on the front of the food side, saying Bitcoin accepted, Bitcoin accepted, everywhere, starts people to see the thing. And really, this is the important thing seeing this. I mean, I went back to Australia recently and all over the place, he started to pop up Alipay. Alipay, except Alipay. I don't think, man, why can't Bitcoin be here everywhere by now? It's been 10 years. Come on, guys, get your merchants to put that sticker. Sure, it's one transaction, maybe a year. It cares. Then you don't need to cash it out. It's that few. They could even work out for the business. We had this bar in San Francisco. They had worked with us. They would take Bitcoin for the bar tab so we'd pay them. And they of course planned to sell it the next day or a couple days after. Well, they accidentally held onto it. And while we were crazy up, oh, the bar was very pleased with us. We were getting greeted by name. They knew our drink in advance. Everything was good. And that's just a bar holding onto one bar tab for one group, maybe for a couple of months, maybe $300. A couple thousand dollars investment from the bar. And who knows? They might have gotten some significant money out of it. So, yeah, I do think all those things are going to work. We just have to keep at it. And it gets a little frustrating, like Josh is saying, we've asked so many businesses, talked to so many people. Max, of course, in Germany, suggests talking to smaller businesses, talking to farmers markets. Obviously, you're not going to get anywhere at Walmart talking to some kid there trying to get them to take Bitcoin. But smaller places, yes. Moving on to issue four, issue four, Philly, Bands, Cashless. A new movement is taking shape in America, a pro cash movement. The city of brotherly love, Philadelphia, has taken a step towards protecting its consumers who do not have credit or debit cards, passing a law forcing their businesses to accept cash. While one can certainly understand the goals of the city, attempting to protect lower-income citizens, the law seems a bit like Britain's Red Flag Act, which forced automobiles to be surrounded by a team of flagmen to keep pedestrian safe. Will Philadelphia be able to put the cashless genie back in the bottle? Or much like automation? Will the cashless society just keep on coming, whether you like it or not? Josh Kegala. I mean, it'll kind of be like accepting Bitcoin. You only get one transaction every year. But I think, you know, as long as they don't ban cashless payments, then, you know, I do think cash is a really important thing for lower socioeconomic places because a lot of it is tip economy. And this isn't economy yet. It's in the black, in terms of the government, as far as the government's concerned. But this black economy is an extremely, extremely important part of the wider economy because it keeps lower socioeconomic surviving. It keeps the delivery-road driver or the rides this black delivery is launched, that extra two bucks or whatever he gets, that's black money is actually keeping him as a functioning person in society. So it actually has, you know, a really important part to play. But we'll see what happens. Hopefully crypto will take over. I mean, you know, the work from Jason King and all that, working with homeless to accept crypto back in the day. I wonder how many of those guys didn't spend it on a vice and kept it. I remember in article once where they gave them Bitcoin and they taught them how to use the Bitcoin to buy the pizza. Then three weeks later, Bitcoin had went up 20, 30 percent. And of course, they were cursing the Bitcoin and mad that they bought the pizza. So just you can't help everybody. But it is interesting what Phil is going to do, what they're trying to do here. I'm just not sure it's going to work. Rhett, Creighton. Yeah, this is a topic that is near and dear to my art because I was actually, I was born in Philadelphia. A lot of people don't know that. Philadelphia, I think it's amazing that we're actually discussing whether or not Philadelphia is how much influence it's going to have on the world, much less. I don't know the United States. Yeah, we're talking about here the town that beat up Santa Claus. I don't know if you remember that. There was, they actually came in. Everybody just beat him up. He rolled out the beat him up. The city of Brotherly Shove, so we like to call it down there. Yeah, this is the town that destroyed this hitchhiker, but went all around Canada, all around the country. What happened to Philadelphia? They just smashed it, beat it up. So this is their concern. This is the town that really concerned with protecting consumers. The town that beat up Santa Claus and the hitchhiker, but we're talking about the city that had Joe Frazier is born in Philadelphia. Will the still Chamberlain, he got 100 points in one game. He has all the records, ever in all the Philadelphia high schools, he still has all the records. They built a statue to Rocky. This is the town we're talking about. Kobe Bryant is from America. He trained with the 76ers. He left to LA. How can Kobe Bryant? And then they all fell off. He's like, oh, we're talking about us, Kobe. And he's like, no, I live in LA now. This is, I'm sorry, I can't take anything. Philadelphia does seriously. I don't think it's really going to matter outside of Philadelphia. They had the Wawa. It's going to be great. When I can go in and it's crypto-wawa or whatever. Actually, the Wawa advances really quickly in technology. I don't know if you guys have seen this, but back in the early 2000s, they were one of the first to have a really advanced digital sandwich making app. And I think they were just really far ahead of it. And they still probably are, but anything I've seen. You can easily select all of the toppings and all the things. They call them hogis. They're the hogi at the Wawa. And they're really serious about those. They hear like a hogi in an iced tea. And it'll be pretty fun when they're using crypto. And they go, I can't even do it. They fill up their gears or whatever. And then they go and they beat someone up. Hey, let's go. And get some gears and get some crypto and they'll go hogi and beat someone up. And so that'll be what'll happen. Well, at least it's always sunny in Philadelphia. And cash does put a lot of overhead on the business. You have to verify the notes, counter-fitting possibilities. You have to store the notes in your business theft possibility. You have to take the notes from your business to the bank theft possibility, especially in Philadelphia. There are a lot of reasons for a business not to want to take cash. So it's interesting to see them forcing you upon it. I remember on the other side of the coin, the marijuana businesses because it's federally legal, but okay in the States. They can't touch credit cards. So they are overloaded with cash. So we really see these problems extended in those businesses, vault problem, security, problem storage problems. Once again, you don't have any of these problems with Bitcoin or cryptocurrency. And unlike the credit or the debit cards that they're likely reacting to, you don't need to have a bank account. You don't need to be a certain age. You don't have to live in a certain place. You can just get a Bitcoin account. Nothing will stop you. Theo Goodman, your thoughts on RET's amazing city of Philadelphia. I think that East and West Coast needs to get along and it's just totally different worlds. Maybe you don't understand each other. Besides that, I like cash. So I think it's cool. I like cash. Cash is a bearer asset. So it's very similar to Bitcoin. Whereas if I have a bank card, that it's just the money is somewhere else. I don't really have it. I just have numbers on a screen. And if I were to pay with Bitcoin, well, presumably I would have the keys somewhere under my control. Of course, I could use a custodial service as well. That would be akin to using a debit card or something like that. So I think that cash in crypto has a lot more common to then or debit cards and things like that. So I think it's cool. I always like cash. I'm maybe I'm crazy. I pay with cash all the time. But believe it or not, Germany cash is really, really popular. I mean, it's not that you can't pay with cards in major stores, but could be that the bar doesn't take cards. It's very possible. It's also possible that small restaurants and small food places don't take cards. It's not unheard of. So it's the other way around. Although it's not. I don't know if it's forced. That's something that's interesting. So I've seen it in London places with signs. We don't take cash. Mostly really small places. I think that's really annoying. I think that's stupid. I think what's the point of having a government currency if I can't use it? It's a government card. It's a note. It has a queen on it. What is it? It's from the US. It doesn't make any sense from the US. And in the US. It's written on it. It says for all debts, public and private. So you might not even be able to say no. At least in the US, I don't know other countries. I don't think it doesn't make sense. I mean, I'm not a lawyer. But to me, I should be able to pay with it everywhere. I don't think there's a more in England that's really old where you are. You have to take stamps as a performer payment to. I'm going to get some stamps. I'm going to try to have that next time. I think that's the best way to have a should accept your stamps as payment. I asked the most private thing. I want to go. I asked the lawyer about that interesting point. This could be payment for all debts, public or private. Anyway, the response I got from a lawyer one time was that, well, if I go to a store and they're like, we don't accept cash. You have to be credit card or whatever. And I think it's written on this bill. I can pay for this. The technical question there becomes, well, do I have a debt yet? Because if I go into a store and I want to buy something, there's technically not a contract until I set it down and then we decide we're going to exchange it. So that's where the argument is that stores don't need to accept cash because there's not a debt until you've agreed. Anyway, I just want to chime in with that. It does seem a little ludicrous though that if you're in England and you're paying in English money and they won't take it. Or if you're in Germany, you're paying in Germany money, they won't take it. It doesn't seem right, but again, maybe it's this technology thing. Let's move on to the exit question. First, New York with its bit license and now Philadelphia with its ban on cashless businesses. Is there an East West divide in crypto? Which is the best coast? Josh Kagala. I mean, you know, I don't live in America. So I think at the end of the day, if some state forces some sort of ridiculous license on you, the businesses will just leave, especially the crypto businesses, it's funny that New York can still sort of the heart of consensus and stuff. I also thought that was weird. But, you know, law skier and his ridiculous sort of iron, iron, style, let's control the new industry thing is stupid. And we did see, and going back to your remark about the red flag act, I think these are really things that tend to get reversed if they see massive brain drains happening. But in Britain, actually, they put the VAT, which is a goods and services tax on Bitcoin, like really early on for like a month, and then they took it off again. And that was two months, I don't know. And because, you know, there's just a solid Britain. You could just see all the businesses just packing up. You know, as the internet business, you literally just close the business. The business is still growing online, but and you open it at the same time, some other country. And it's just, you know, if you create a ridiculous stupid law, people are going to leave. So hopefully the law gets reversed for stock. All right, let's move on. Keeping an eye on the price of Bitcoin, we have seen a bit of a decline recently. The price of Bitcoin was recently at 3912. It dropped all the way to 3760 before recovering to 3818, where it's at right now. So just keeping an eye on that. And we're moving on towards the end of the show with predictions or a story of the week. Josh, are you ready with a prediction or a story of the week? Yeah, prediction. Well, you know, one thing I'd like to always hope for is that a large, a large call, some sort of large corporation makes, makes a big splash by saying that they've been developing something. And I think in the next six months, we'll see some of these bigger players hopefully tap in, hopefully. Saying that, I think still, and it's kind of a reflection on the couple of questions ago, it's these small people, it's people paying free land, and all that sort of thing that really make a difference. You know, if you can pay a free land, so in crypto, because it's internet cut, you know, it's an internet economy. So whether Amazon or something accepts a group by another thing it's Amazon, but I think we'll see a large player. So the jumping again. A large player. Rhett, did we skip you on the East Coast West Coast? Yeah, we did. I have just a quick thing to say about that. First time in quick. One is that obviously I think the, actually the West Coast is far more Bitcoin and crypto friendly. You see, you see all of these Silicon Valley inciders, Elon, the Twitter people, the PayPal mafia. They're all signaling a favor of Bitcoin. And in the East Coast, we've actually had a lot of Florida has started arresting people for unlicensed Bitcoin transactions. So Florida's. I think I have a favor for Florida. First in the country. Always the best. I love Florida. Very friendly to Bitcoiners, but the very, I'll just keep it quick. Basically, the great thing if you're a Bitcoin maximalist, the United States is very. I would say very favorable about Bitcoin in general. I think the way that they're treating it is very favorable. They're not going around and harassing or resting people who are pro Bitcoin. But they're being very uncertain about crypto outside of Bitcoin. And so that's forcing everybody who's doing any kind of crypto project to just leave the US. And so, so that's my prediction. I think the entire US is not, not crypto friendly at all. And so everything that is crypto that's not just Bitcoin is just leaving the United States. And the West Coast would be more friendly than the East Coast. The West Coast is the best coast. The West Coast has the sunshine and the girls all get so tired. I need to mention there's an alternative, which is Puerto Rico, which is where I am. And it's going to blow up. So, you know, Puerto Rico, we've got our own coast. Not exactly. I don't know which way you call it, but it's a great coast over here in Puerto Rico. Surrounded by water, hardly a coast looks like an island to me. Theo, good man. Do you have a prediction or a story of the week? East Coast is always the best coast. East, outer banks, North Carolina is the best coast in America. So, just to me. And of course, in Florida, the police have to take action because people are actually using Bitcoin for something. And that's why there's actual action there. They're not just doing startup selling vaporware or whatever. They're actually people using it and, you know, maybe illegal things. And that's why the police has to make a statement, hey, we're doing something because of all this illegal stuff getting edgy. So, the East Coast, of course, always. In any case, my prediction is that we'll see more and more people use the Bitcoin's crops game. And it's going to be one of the biggest blockchain games ever, bitcoins.com. hilarious. I like the name Bitcoin. That's funny. Just a shout out today to everyone who's donated to my trip to the UK. It's going really good. We got one donation so far. Donor 0.00515768. Thanks to everybody who's donated, help support the show. You can always pause the show. Send me 10 bucks or like five bucks. Like I said, I'm going to the United Kingdom. So if you're going to be there, I'll be there in about a month. A little less than that. I'll be at coin fest in Manchester. Then I'm going to kind of go around the coast, try to see some castles and whales. Maybe some stonehenge come down to maybe Southampton. Maybe up to London. So if you're anywhere in there, we're going to try to have Bitcoin meetups. They're just going to be real impromptu things kind of at bars or something. People just come meet me and come hang out and we'll talk about Bitcoin. No big deal. You don't have to eat a giant steak or anything. You can eat whatever you want or you can eat in advance. So that's about it. We've got the trip that we're working on. Keep watching the World Crypto Network here. We've been having proof of work interviews on Wednesday. You can check those out. I've got another one scheduled for next Wednesday. This is Friday where we've been doing Bitcoin group. That's been going well. And then we've got Bitcoin talk show where you can call in on Monday. Tell us your thoughts and opinions. Be on the show Monday morning, Bitcoin talk show 9 AM to 11 AM on Monday Pacific Coast time. As well as we've got Max is how to videos and open source everything. And we've got our friend Bitcoin socialist Ben from Wales. He's been doing some great Bitcoin IoT videos. You can make a little sweet machine. A gum ball machine that'll give you a gum ball if you pay it in lightning. And then someone took that tutorial and attached it to a pinball machine. So you can play pinball if you paid in lightning. It's really cool to see that kind of basic tutorial technology going out to people. So be sure to give us a thumbs up and a share. If you haven't already subscribe down below. Hit the bell for notifications. YouTube now has notify you sometimes and notify you all the time. So just another setting for everyone to say on the end of their videos. I'll be sure to like, subscribe and donate and until next time. Bye bye.