Come on YouTube events. Hello to Periscope, Facebook, and Periscope. There you are YouTube events. Oh 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, Ben Arck from BTC, IoT. Hello there. Dan Eve, the crypto raptor. Happy almost harvining, peeps. And I'm Thomas Hunt from the world crypto network moving on to the issue of the day, 2020 Bitcoin having as we've seen on coin desk Bitcoin having searches on Google have hidden all time high with Bitcoin is even saying having searches goes parabolic just as the Bitcoin price explodes. So let's find out what the Bitcoin having is. We're going to go and get the chat ready here. So if you want to join us in the YouTube chat, you can give us a question. What is your question about the having? We hope that we'll cover all your questions. If not, we're going to go back through and double check, make sure we get all of the questions answered. So at a very basic level, the Bitcoin having is the reduction of the Bitcoin block supply. So if we look right here, the block reward starts out above 10. So if we start out on the right side here, the block reward is above 10. So there's just three block rewards above 10. That was the 50 block reward, the 25 block reward and the 12 and a half block reward. Right now we're going from the 12 and a half block reward to the six and a quarter block reward. So this is the first time they having the supply of Bitcoin every 10 minutes that are produced on average. We'll go under 10. So we can see that it's a very regular schedule of going down by 50% every certain number of blocks. As you can see, every 210,000 blocks, it goes down. If we look at it on another chart here, here we can see the supply of Bitcoin as well as the reward structure of the happening. So if you look at the maroon or red line on the left hand side, we can see the supply. So again, working backwards, the first reward was at 50. So this is up at 50. The second reward was at 25. So we see by about the time that 25 Bitcoins is the reward, 10 million of the 21 million about half of the Bitcoin have already been printed. When the reward drops to 12 and a half, which is where we are right now, if we look up to the chart, we could see anywhere between 15 million and 18 million Bitcoin have been printed. While when we drop down here to our new reward at 6 and a quarter, we see that it's about 18 million to looks about 20 million Bitcoin will be printed during this time period. So this is pretty much it for the printing of Bitcoin. All the rest of after the 6 and a quarter having after we go down again, it'll only really be this last million. This last million will be the only Bitcoin printed for the rest of time. Pretty much it goes all the way up to around 21 30 is the current estimate for when it'll run out. So those are the basic charts. I'm looking at this here. Here's the same kind of chart we can see the having supply and we can see the Bitcoin supply. So according to this chart, we are right at about 18.4 million Bitcoins printed and that the halving block structure is about to go down. This chart also shows us the chart of monetary inflation percentage and that for the first time, Bitcoin's inflation percentage is going to start dropping significantly close to one and then below one. So we're going to see Bitcoin actually go into a negative inflation period here. So there's a lot of scarcity coming into the market as they're saying in the chat. So let's go to the panelists. Dan, Ben, anything you guys want to add to these charts? Ben, go ahead first. Just the, you know, this is the genius of Satoshi and it's all intended by design. He could have had a much, you know, straighter line of deflation if he designed it differently, if he designed the algorithm differently, but he didn't specifically because you want that bootstrap of distribution very early on. You want all those coins to get out there and just to get into people's hands and to get a lot of excitement. You don't want, you know, if we, if we'd only had two million Bitcoins minted and we were still waiting another 90 million Bitcoins, then in people's minds, there's just a hell of a lot of Bitcoin which haven't been minted. So it makes the thing which they're holding worth less. We almost have that. You know, this is one in a 21 million feeling even though we're, you know, a couple of million shy. Just because we know that the majority of those Bitcoins have already been minted. So it's really a testament to Satoshi's genius, it really is. And that, you know, in this particular harboring we're talking 18 and a half million Bitcoins which have been minted already. And as I've said before on the show, currently we're in very unstable times and to have something which is regulated with such stability, particularly when all these other countries, all these countries are hyperinflating currency. And just turning on the printing machine just as much as they can because they need to be able to stimulate the economy and pump money into the economy. But that's a price which, you know, it will work for the short term. But then everyone's money will become worth less and a worthless over time. And the other currency will just lose its grasp on reality which is sadly what's going to happen. So in very unstable times we've got something which is very stable and that's the harboring and it's happening at predicted rates. And we know when the one after the one which we're going to have is happening. So I just think it's the timing is incredible. This could have happened now October or September last year. And apart from as Bitcoiners, no one would have paid that much attention to it. But I think to have something which such regularity happened in very irregular times is, you know, it's good. It just highlights what Bitcoin is and it's somewhere safe you can put your money in. You know, it's going to be cryptographically safe from inflation. So but that doesn't mean, Matt, we're looking, I think we'll probably talk on inflation and things a little bit later on. So I went around to see much. All right. But no, I think it's a testament to Tashi. Dan, if your thoughts on the charts so far and the Bitcoin having? Well, I think in general, I definitely agree that it's a beautiful hash based work of our in general Bitcoin and the schedule this the harving the harving schedule. I mean, there's still some people are still skeptical as to whether the fees structure would definitely be enough to sort of keep miners. Miners are mining after all the rewards of, you know, have stopped. But I think that we should be clearly on a on a trajectory to show that even micro fees in, you know, X years time, they're going to be worth a huge amount. So I don't think there's going to be a problem, a problem there. And as Ben said as well, second, the fact that there's so many money, so much money printing that's going on at the moment. You know, from from from the US, there's a potential like, you know, Greek and Italian bailouts and potentially I don't know anything else. As someone I saw, I think one of the India actually said, you know, chance on brink of third bailout for banks. It does seem like we could be heading that way. If if the COVID thing takes up too much more of our time and economic power. But the hash rate is staying strong. It's like it's roughly one 10X ashes now, one 12. So again, an all time high was at 123. So that the power of the network is still, you know, immense and almost at full maximum capacity. So yeah, bring it on. All right, we just like to thank everyone for joining us and ask you to give us a thumbs up and a share. If it's your first time here, please subscribe down below, hit that bell for notifications. We do these shows a lot of the time. Also, if you have a question about the Bitcoin having now is a great time to get it in. We might not answer it right away, but we'll be sure to go back over questions to make sure we answer everything here. Remember, there's no, you know, no such thing as a stupid question. There's a lot of good basic questions that we would like to go over. If we forget to go over it, please remind us so we can go over it really quick. I try and make sure all the stupid questions are asked as well. So I try and cover that so that everyone's less embarrassed. So don't worry, you've got me to fall back on. We'll put Dan in charge of that one. But we had some polls today on the at mad bitcoins Twitter account. Thanks to everybody for voting. I still vote these polls go on for about another day. But just here's our results so far. The Bitcoin have been will drive the price up or down 72% of people 87 people voted 72% think the price will go up because of the Bitcoin having. This is probably because of the supply and demand. We'll talk about this in a little bit. The Bitcoin having is good or bad 82% of people think the having is good 17.5% think it's bad out of 57 people who voted in this poll. So that's an interesting one. What do you think the reasons people voted for bad? There wasn't much commentary. But what was the, what do you think the reason is just maybe scared about the that there's a technical glitch or something like it. It was it could be historical because it did go down a little bit on the last halfening. Because I was that theory that that that it was priced in. So I think it's all right. So the traditional markets where they're printing lots of money for the Bitcoin to be printing less money seems like a radically different approach. So I imagine that people are looking into traditional and saying if everyone else is printing. Maybe we shouldn't and also the idea that we can't kick it down the road. So many of these other things, even you know the UK election. They were like, okay, well, we're not going to have an election for a year, you know, coronavirus all the shit. So with this Bitcoin having thing, it's programmatically in there. It happens on the block. The only way to get it to stop would be to stop mining Bitcoin, which if everyone in the world stopped, we could delay the having. But otherwise, it's going to happen. So I think there's also probably some uncertainty because it's not driven by a human. It's not driven by a regulator or a scheduler. It is like an active nature. It is a thing that is going to happen like the blocks are going to hit the number. The rewards going to go down by half. We're going to celebrate here on the world crypto network. We're going to have a good time. But I saw a great Forbes article where they said, what's actually going to happen. I like nothing. Nothing's going to have you not visibly going to be able to see anything. Your Bitcoin aren't going to look different. The interface colors aren't going to change. It's not like Fortnite or whatever. There's not going to be a Travis Scott concert or whatever that is in the middle of the show. Double 140 to 280 characters. Yeah, no, no feature upgrade. No, no achievement unlocked. I mean, it's just it's going to go on as normal. And that's part of the greatness. And it's also I could see how it could be scary. So I was, I was interested to see these to 17.5. That's a historical prediction because it did do that the last couple of times. It went down. They might be saying that the price goes down. I don't know. I think it's just. I want to say that it's some resistance to the kind of libertarian, you know, getting rid of inflation is good type thing that maybe there are some bit pointers who are like, hey, I wouldn't mind having some inflation. You know, a theory. Well, I mean to that to that point to that point in a Bitcoin world, you could still have. So fair, whether surplus recycling is a pretty good idea. You know, if you have really good economic period to be able to take some surplus and then lock it up somewhere and then use that surplus. If you have economic downturn through a coronavirus or whatever else, that's a good idea. The only problem is that we don't do it properly. So we burn through all our capital and just grow. You know, as much as we can. And then when we crash, we then just print money. So we're not we're not we're not making use of the surplus. We're just. Just milking the cow even harder and faster. So we're not we're not doing what we should do to trying like, you know, offer out that economic downturn which you could do cryptographically. You know, with some multi simple multi sig wallet, so whatever you could while the goings good and countries have a surplus of capital, they could lock it up. By the decision of you know, more than users, I don't know, all the all the people within that community. And then that capital could be used. And if there was some economic problem and a downturn, but that is that is possible. But you just can't print more like which is the problem with the currency. You can't you just can't you can't inflate it, but you can you can have like economic buffers. I'd love to see like an experiment say with two with two kids that wouldn't usually like a bit of the age where you know there's a limited understanding of economics. And to kind of try and teach them that we've got two kids. One of them is going to have money and they can just keep on adding more money and see if they understand as a kid. And then that's that devalues what they have the fact that someone can just make another one, you know, that has suddenly more. I don't know, it's such a it's when you when you think about it from the outs, from you know, from outside. It's such a crazy idea to just print money out of thin air in order to pop up an economy, you know, that even a kid surely even a kid would realize that's a bad thing to do. I think children and this is why you know, because Andreas always uses what you used to use children a lot in his talks, you say a little Joey coin and you know you look at kids in the playground and they have their own little market or trading things and this elastic bands worth, you know, so many. And then there's staples or marbles or whatever. Park's yeah, whatever the kids collect double is of that time, which hasn't been banned and is still able to be in schools, but the humans, I mean children display in a native understanding of value and the value in objects and their exchange rate between other objects, which we kind of lose. As time wears on and I think one of the reasons in which we lose that is we don't have a grasp on on something a stable value system, because we're also used to just this thing which just they print more of. But I mean all all economics theorists, I mean maybe not the Kenzians, but a lot of the modern economics areas, they say that a near zero or deflationary currency or money is better than an inflationary currency Nash, he was a big proponent of near zero is close to zero as you can get when it comes to currency. But yeah, so so it is I mean it's a superior it is a superior form of value store. And you can all have a government, a government could like we could all opt same was to have a wash pound like lightning network RGB liquid token thing and we could, if everyone in the country wanted. For that to be a level of inflation we could have that but it would still be pegged to Bitcoin like it's it's we would still have this value base which we could understand like this universal medium of account. So you can still have inflation you could tokenize and have some sort of inflation but it would be in a much more controlled and less reckless you know turn on the turn on the burrow machine. Alright let's get let's get back to some basics here let's talk about what inflation is what the general idea is here. So the general idea like you're saying Ben is that the United States has borrowed debt we borrowed debt from the Federal Reserve the Federal Reserve printed us up money and that's allowed us to print more and more money because they're now holding the debt. So our money is now based on debt it's not based on the gold standard so there's a lot of complicated things happening there but basically inflation is when they print money not because they got something new maybe in the old system let's say if we discovered a new gold mine that gold would add new value to the economy there would be new gold coins in circulation value of all gold coins would go down. But they've changed that now right instead of finding the gold in the gold mine the actual value now at least in the American system Congress prints money Congress says fiat which is a word that means let it be done in Latin and Congress says we need more bombers and bombers cost this fiat let it be done they print the money they actually call up the Federal Reserve the Federal Reserve creates more debt. Right the debt is bonds China bought a bunch of the bonds other countries buy the bonds people buy the bonds they buy the debt with the idea being that the United States has made a promise to pay back like the debt plus interest right so that's why we're inflating things we're always trying to pay back the debt plus interest but there's not enough money in the whole system to pay back the debt plus interest but we're going to keep running the system. The other thing about our system is that as you can see it relies on growth we have to keep growing to keep paying back the debt with more and more money that's worth less and less value. And so it just keeps happening and this is part of like the whole replacement economy the way that everything breaks down and goes bad and it's made out of plastic that's so you have to buy new things so that the economy goes up that's why they keep turning over new economies keep bringing in new consumers so they can buy more things so more things can be sold so the economy can go up. That fierce level of growth is detrimental to human beings because it also means that every last second of your work life is a squeaky start of you because we need growth we need growth we need to keep growing faster and faster and faster whereas it's not a stable growth plan for an economy. I think maybe that will kind of as much as automation like is it you know a lot of people fear it i'm hoping that automation will actually free us up more to do creative things and turn so rather than doing the mean all tasks that people don't generally want to do we can have like little frickin mini bots that just you know miss around and do do whatever and those people can do stuff that's creative I mean who knows by them we might have the whole current system collapses which is probably relatively inevitable. And and you know we move to you know you be I because of all sorts of craziness that happens I don't know everything 2020 so someone put it this is incredible so I'm going to let this the other day 2020 is so crazy that the Pentagon announced yes his three videos of UFOs and no one bad in eyelid they're just like oh yeah you're right UFOs Trump as president. They were giant world world lockdown day the world so it's still virus and of course you have a so epic crazy crazy times we've been there before man like they think people you think of a society where no one works and you just have robots and stuff doing things for anything else it's never going to happen people have to work the ancient Greeks didn't work like then they have to have slaves and slaves did everything two thirds of the population of ancient Greece were slaves and they did all the work and the Greeks just started to do it. They had all G's eight great strong wide came what was lost. They had time to take part in politics and to show up in Athens and so on so far because they weren't working. Well that good shit came from that period is because people's time was just freed up. So what is nothing like Dan was saying with the automation we were promised these gains in the 50s we were promised shorter work days we were promised automation was going to save us women. Back anymore all these kind of things you wouldn't need servants for your house it didn't happen right the work. The world the squeaky that growth. The growth curve like the making more money on the other side though it produced the most consumer goods in the world the cold war put everything else aside was largely one because the United States was producing blue jeans and televisions and in Russia they looked at that and they said my God everyone has a television in their home. Maybe two they have blue jeans they are wealthy we want that and that also the propaganda images helped out a lot too but you know that production that ability of capitalism that ability of inflation based all these things and we're into a lot of big economic territory here a lot of our audience are libertarian or Austrian economics they don't like this money printing they don't approve it. But yes it is happening in the world anyway right we have to like we are an infinite amount of cash the federal reserve so like we are we are living in this thing also the way the pandemic works is this active God this active nature right this thing that hit us like the options are completely give up on society which is like let's say we're driving along in the car and the oil filter stopped working and I said stop everything let's build a brand new car with only what we. We have on hand in the garage forget about the old car and then some other people said hey we could just fix the oil filter you know we could just fix this maybe we have to print a bunch of money to buy the new oil filter and that's that's where we are where obviously our society basically is Kenzian right now if you want to know about it sorry sorry Austrian guys but yeah they're going to crank the thing and we're going to see what's happening. As you as you brought up the Lash of society John made a case thought I mean his he he envisioned that by the sort of 70s or 80s people be working like a two three day week because it wouldn't need to work anymore because everything they would have everything they needed so they don't need to work a couple of days a week. But you didn't that's when Bernay out for the band did not just what you needed but what you wanted an advertising and we started to drive demand to inflate demand artificially to create more demand for things that you might. But I mean people people in you know developed countries such as the UK and the US we are economically worse off I mean we obviously we can buy more stuff because it's cheaper blah blah blah but by the metrics of you know the ability for someone to buy home and all that sort of stuff. We are a lot worse I think there's crazy statistic the average blue collar worker in the US in the 50s who's on what would be the equivalent notes like 150,000 dollars a year is a huge amount of money and that's why there was such amazing opportunities for that generation because they had a lot of access to capital even low employed they could they could send their kids to college and you know they could live by nice houses and all that stuff and that's why that's all that you know. The American dream was born but I mean in order to keep capital growing you need to drive down wages that's one of the ways you can keep it growing. An investment growing as well so that that's why I mean and the reason it's been in white so fierce is it's because it's just because of the fear mechanism behind it and the printing money and it's fine. And they've been incredibly successful in driving down wages and they've also driven down benefits and so that no one has any sick time and that no one has any health care and I you know I hate to say this because you know the audience doesn't like it but we may see. Even by the force of protests in the street a redesign of our society based more around services for individual people rather than around the freedom to make as much money as you want. People are looking at that saying okay you know the freedom to make as much money as you want has been great for like this top you know 10% of people maybe right but for everyone else who's working at the grocery stores right now who's working at the fast foods who's like out there has to work has no choice. Spreading the virus doesn't have sick days doesn't have health care it's not working for them and the problem of this new virus interconnected society which has always been our society but has now just been exposed by the virus is that it's again it's that it's that classic Bible quote I mean whatever you give to the least among us you should give to me. I mean it you know Jesus said right that's what we're going to come down to in society and that's very that's very antithetical to the libertarian idea to antithetical to the Austrian idea these are very. I mean is it just depends on the angle in which you look at it like the angle is is you know human cap like freeing up human capital so the ability for humans to achieve the most they can in their lives and then drive competition and nurture capitalism. And I don't even have to the chat to see what they're saying but yeah they're going to say the competition goes down no one wants to be a big scientist if you can't make lots of money or whatever and then they're also go say that if you take something from someone else and give it to someone else that you've become a criminal you are using force so you be I as great as it would be for the fast food workers or whatever is going to take some money from somebody else somewhere and if you take anything it's force. I'll look at the chat now yeah. Yeah that that is a good point I suppose if they are if if they can just so freely print print money and I mean you've got to be pretty brazen and confident to say. So it's really is in your position at the Fed that you've got an infinite amount of money in theory you would kind of not directly being putting a gun to someone's head as it were by just printing the amount that's required each month in order to air drop the UBI so that's kind of one way of looking at it maybe so it's kind of like it's less it's kind of a side route it's like you know it's like an ICO scooping its way around legal regulation. Yeah it's the whole thing with the ring of power you give them the ring of power they're going to print more money but it's another thing where looking at the basic services basic services needed need to be provided especially if we're going to have more of these outbreaks even some of the America first talk that might not have been so acceptable early on is now looking like common wisdom we should have our own drug system here you know if you if you need to ask brand or whatever to live. We should make a little aspirin here in the US just in case we get cut off from everyone else is not like again it's it's bad for the aspirin company like they're being you know competing with this national stock pile or whatever we're going to have happen so there's a lot of complexities there but again we're I think we're trying to optimize to get the most good out of what we have other people would argue by attempting to optimize you're actually going to get less good but that's the large scale debate that we're having and sadly. You know in the real world it's like I don't 99% can see it so you're just your debate your size not being representative it's not going to be considered and solutions we're going to see either I mean it's no 120% canesian or 80% can see and we're going to see you know extremes. No I mean it's it's neoliberal like it's there to serve the neoliberal elite you know like Trump for example you know people are in a poor brought up without means should then have to work their way up and then they'll be strong before it and there'll be you know leaders of industry and all sort of stuff but both in the US and in Europe the majority of people who are in control of capital but majority of the people. We were industry leaders have wealth behind them and they have access to schools they have access to good food education or stuff so you're just enabling more people to have access to that stuff and just by doing that it's a it's a no matter to think that it makes them lazy you know if you give kids access to education food and somewhere safe to sleep that are them make them lazy it won't give them self respect and then they're more likely to go out there and compete and then you'll end up with better markets if that's your thing. So I don't know about you be I know I'm not 100% on you be I don't know what the answer is but so that sort of leisure society maybe just giving people money does make sense but yeah no I don't know because I think you be I is almost used as kind of like a band a to kind of keep the whole thing moving whereas I don't know maybe maybe I'm maybe. I'm really short to enough. All you be I universal faucets just make and your own faucets and put them everywhere and people just go to their phones. Very cool. But where they're going to get the Bitcoin from they have to they have to buy it for the market forever pump. Yeah. Well that is the problem where do you get the money from but yes I do think that some form of these universal basic services are going to be demanded and offered and if you want to think about it in the greedy way if that's the only way you can understand this we're actually all going to make more money like Ben was saying with universal child care universal health care universal college all these kind of things we're going to have better workers they're going to be smarter workers they're going to be more healthy they're going to work more. They're going to make more money which is going to pump the whole thing up so it's actually good for everybody. I know it's difficult we have to go through things you don't like to get there but I really and again it's it's also it doesn't matter what I think or what you think like the grand level of the populace. The real article to read about this about a month ago Bloomberg had an article and they said after that there were pandemics in the same time around 18 80 18 90 around that time period and that about 30 years later 1920 there were worldwide they had to fight incredibly hard to get workers rights. The the pink retains they had private resources the rich would just pay a private police force to to chisel in on you to come in on you so yes it was and they fought for these things they won and all the things that we appreciated that we enjoyed in our life having weekends having days off having health care from your employer even even that that benefit there that all came from unions which if you really want to source it back comes from these pandemics where people see the inequality in their society and it sticks with them you lose your grandparent you lose your parent you lose your family member to this you remember it's not just something that you can like let go like these people aren't going to let go. But again you know back in the back in the 50 60s they had strong unions you know people have a unionized and I mean look at teaching in the UK compared to the US and the US teaching at pay up and you know pay terribly whereas in the UK this is a profession where you get paid to do some wage. But as well. Is there like government grants for training as well just kind of support for training is the same as personally. That's a particular idea to me our teachers are paid terribly the students know it the kids everyone knows it like it's awful yeah. You want to pay the people that the people that are performing you know you're putting the money to the clay. You think so if you don't trust exactly yeah yeah you're more experts so yes the this experts will only brainwash your children with their expertise. I like the idea that the teachings are going to become like teachers will be superstars because it will be so decentralized there will be like rating systems and you don't have like people that don't want to be in the room giving you know crap lectures and being fuming with people and stuff. You'll have like skilled people who are like world renowned for for teaching about x y z and they'll like pull in millions of of viewers class viewers are I can. I definitely think we'll see that but that's again going to be a tragedy of the cons like the top people like David Attenborough or whatever everybody's going to go to them but at the bottom all these people get nothing. And then I also want to highlight I know Ben's going to say because he's a teacher but the other half of teaching besides the lecturing is the like one on one care is the like seeing the person seeing how you can help them I read a story this morning by a guy who is on Twitter and he says father was a teacher and his father gets all these letters all the time from. And then I'm from kids in the inner city that he taught and how he changed their life because he took an interest in them and a lot of kids can't learn through these one way lectures, especially a lot of these kind of ADD kids that we have these days even if they take the meds or whatever. ADHD. The same thing but they need that one on one attention and they're not going to get that from that you know top level teacher system there are a lot of normal level teachers that maybe aren't the greatest lecturers in the world but they care they have empathy they can provide that we would lose that in that system so it's going to be interesting to see the the tele education system or whatever we develop because yeah a lot of people are staying home bend you have more on this. Yeah, I mean I think there's a lot of benefit and I mean a lot of kids as well they are access and education more and you'll see the generation of kids you've got coming up now like they really are empowered their internet natives and if they want to learn something that's YouTube and that they feel they have access to that information in a way where before you know they would have had to have gone to a library or going to the college course or something now and it's the same way to true to all of us as well. So people are falling in love with education again which you can probably see on the internet with all these master classes and all these other things people invest their time in like human beings in order to walk into or like we need to we love learning like and it is a real a real tragedy of some poor education that a lot of kids leave school and they just hate the idea of learning and they don't learn anymore. But that's because they've had like crazy teachers that just put them off that don't always have a crazy system. But the reason they've had crazy teachers screaming at them is because class sizes are too big and but but now like as Thomas was saying for a lot of kids particularly once we're very able they'll find the schools of real sanctity sanctuary you know like their home lives may be terrible but they can go into school and they can have just a normality and they can speak to someone who's sort of sensible and nice and got their home. So it's a great job to be the best interests at heart so as a teacher if you make it a little bit of an effort is very easy to get a lot of reward out of it's a great job career for anyone wants to get to do it great. But there's also a lot of potential education how you I mean you've got to have the other dangerous as well you need universal access to education and I think you need it to a certain age as well because child labor is fucking sucked really badly you sort of like. You know orphans would be putting fields at the age of four to scale of crows which is absolutely horrendous so I've got three near on four year old and the concept of such a thing is nightmarish and that was just regular normal society back in the day and the excuse was well they need to earn because they haven't got any. Want to support them so they need to earn some money for food and for board in our little sort of workhouse farm whatever so you need child labor law in some way or another. Or an understanding with society that children shouldn't have to work and they should be able to work in some things but maybe not be forced to work until a certain age these are comp. So complicated. You know I like some. Alright I think we're losing Ben I don't know maybe my. I thought it was me I thought it was me I don't know for you know I was also going to say there's a also a benefit to the family. I was looking at you too. Alright then I think you've got some delay we might turn your video off for just a little bit and just make sure everything's closed and and we're good but I know I was going to say there's a benefit to the family for having home school having the kids at home there's a potential to make a connection there that maybe you wouldn't. So I have some friends that have kids at home and is kind of like an extended camping trip they all have to work together they all have to pitch in it's us versus the you know the elements we only have the food we have in the pantry you know we have pasta you can't go to your friends you can't go to school. And for some of the kids it's really working out they actually prefer the one on one attention they prefer being home with their parents for other kids like Ben was saying they love school they miss their classmates they miss their teachers they miss their books all the things they had at school. So it is a major change to have this going on. Alright you guys want to change topic we're going to go to the next topic we're going to talk a little bit about supply and demand this is one of the large laws of economics and I'm sure there's lots of other places you could learn about this in more detail but just at a very basic level talking about Bitcoin talking about the having if the supply decreases and the demand remains the same there will be a shortage. There will be less Bitcoin not enough Bitcoin and the price will increase I've spared no expense I think I found us a diagram that properly illustrates this i'm famously bad for reading these backwards i'm not a great economic scientist here but if we look at this here we can see the supply line s one moves to the left. The quantity q one down here goes down from q one to q two supply goes down demand remains the same and price goes up so that's basically what a lot of people think is going to happen with the Bitcoin happening they think it's going to happen with every Bitcoin happening and this is just kind of a long term thing that you can get used to with Bitcoin because of the way it's designed like we're saying the distributions go down. This one here the supply goes up and therefore the price would go up as well and that's what the supply to flow chart model believes we can see here all these green dots this is the chart and then we see this blue purple line here that's the supply of Bitcoin and that the blue is the happening it's going to go up and that the chart is expected to follow so a little bit more on supply and demand Dan do you want to talk about that. That's a lot of demand. The idea of the supply and demand in with Bitcoin is interesting because you know as we've discovered it isn't it's there it's not something that's used in air like for example a bad example because no everyone hates gold right now but gold you know it's you know goals you also used for stuff so and there's a general kind of supply chain that that is is expecting x amount of gold. With Bitcoin it's the market is that's the demand for it is purely market driven and so the in theory that you know the demand is probably pretty much the same obviously the supplies goes down so it kind of does work out but at the same time you've got the additional factors like the hype that goes around it so the fact that supply demand will go up be even though supplies going down as well because of these rumors of you know moon etc but not just those. But the logical models that stock to flow and obviously the history of what's happened after harvings bit of a dip and then pip pip pip so yeah I think there's a very optimistic target for this you know next harving it would be great if we if we see you know another all time high but remember the the Nasdaq took what like 15 years after popping all time high in the 2000s to reach to reach it again so yeah the same thing is going to happen. Yeah the sooner it happens about. Aral's got a Ben. Ben with it. Yeah I mean supply demand I mean a lot of people think that there's this myth and it was her last last time as well the miners are stashing coins and then they're going to use those to kind of buffer the dramatic drop in in their revenue models. But it's just but looks miners like they they mine what they can and then they sell them coins as quick as they can maybe some of the bigger operations my help by just a tiny fraction but you know they sell those coins in order to pay for their mining operations so the supply really is halved you know of new bitcoins which are being minted and put into the system. And it will it is it is something which will reflect in the price you know you have. The amount of demand there is for Bitcoin particularly in the current climate and crisis we're in and they might have relevance which Bitcoin has and then you then half the supply of new Bitcoins as you're getting put into out there into the world then inevitably price is going to go up. That's Dr Flow ratio I mean I actually think it's quite conservative like if you look at you know the low we had and then you look at the previous pump and the low point before before it went up on had its previous pump like I think we're we're due to like go to I think there's 140 150 grand. If we're going to follow the same sort of pan in relationships are harvining as well so it may take I mean I imagine it I imagine just do what it is the last one and the one before that you have a little tiny debt because people think oh no the harvining was priced in and they realize it wasn't and the price goes potty. But I mean it took kind of a year for that to happen the last time but maybe this time because of what's happening in the world there's more people selling their computers. I saw a tweet and I think it was on your Twitter Twitter done and it was the searches the Google searches for the harvining and it was like 2016 it was like Bitcoin searches were what 40 45 and then I can't wait for the metric works but now we're like 60. So we're you know we're like you know 30% more interest in Bitcoin and it's getting halved in the amount of people out there. Yeah that that predicts we're all very confident. Oh sorry just as I can say that that sharp rise at the end like Google knows it's coming trends has predicted that AI has predicted the Bitcoin pump at the harvining search pump. Yeah we've got the chart on the screen now Ben but this is the way our views kind of look for the world crypto network to we have all this stuff back here on the left where we're really excited like 2013 we're crazy excited about Bitcoin 2016 there's another having we're crazy excited about Bitcoin. It's just this little bump like that little bump and if you look at the price now if you look at the $300 run or the $1,000 run those were amazing like it went from 300 to 1200 in like a day or two like we couldn't believe it we had no idea. And then to look at this now to see the searches go like Ben was saying it's 56 64 and then this top number here is 100 whereas we look at some of these other ones really 10 like seven like there's there's no interest in Bitcoin in the past but whatever's happening since April April 5th or so April 4th 29th through the 4th there. Boom like Bitcoin just the interest in it is going crazy so this is what you do want to see before a big having structure like this another point I don't have the right graphic for it but we've seen it recently the number of coins held on exchanges has been going down this is a really big number to watch. Because we can tell like before the last price dump before 20 17 went down they saw a large number of coins enter the exchange and of course what happened what those coins were traded for fiat right they were sent taken out of the system now we're seeing the opposite right a large number of coins are being pulled back probably into people's private wallets so they can hold them and see how this happens that means they're not thinking about selling if they have to sell they're going to have to send their coins to exchange wait and then sell their coins so there's a step is. In there the more that happens the more we're going to see an actual supply squeeze where let's say your job you work for Batman every week Batman sends you to the market to buy 10 bitcoins it's been going really good right you're doing good job for Batman now this week you can't get 10 bit coins for Batman no matter what you'll pay he doesn't care like he'll just keep putting more money on the pile he likes buying 10 a week that's his strategy that's over right there are no 10 bit coins in the system for ready. So if you're going to buy a lot of money it doesn't matter and that's what could cause the price not to just rise like we've been saying in the normal rise but to rise in a like a dramatic way like the normal the normal price rise that we've been seeing the normal kind of thing the doubling it has to double to make the the miners whole right but if it goes up 10 x it just makes everybody rich it's crazy so Ben you've got a QR code a hundred tell people about it looks like you're taking over the screen. I don't care if I'm just saying sorry I thought I was going to try to I was going to try to sneakily just just on my my little screen but I ended up doing on the whole thing. So go ahead now. We want to wait till the end. All right, we'll wait till the end but yeah we can I've got fundraising pictures if Ben wants to see fundraising. Yeah, get you on it's our folks get you on it's out. No, this is get I was going to show it again. We can show you the tally coin fundraiser recently we still have a point one of a Bitcoin a zero point one towards our goal of a million dollars. While the price was down our fundraiser was down as well at one point our fundraiser as low as $400 and this guy in the chat was like making fun of me. He's like why didn't you hedge your fundraiser man why would you take that gigantic risk with that you know $1,000 and I was like I think it'll be back. Man, I think we just hold it and it'll come back in there. Our magical little $1,000 came back so if you want to donate you can donate Bitcoin here if we push the button. You could donate $10 in the lightning network right here with the QR code on your screen if you want a different amount you can go to tally coin at tally co.in you can create your own fundraiser all you need is a Bitcoin address tally coin can't take any of your money. They don't take anything at all they just make this nice chart and you can see our last donation was on April 18th. We had a couple of donate that day and before that March 18th so but thanks for everyone for supporting the show and giving us a thumbs up and a share that helps a lot too and that's free of course too so I don't know bend you have to be a proper talker we're going to go to that. No no proper girl just said in the chat that if you follow the fundamentals of Google searches Google trends then you know just going to get right is going to be some exceptions or something but actually Google trends are incredibly. Okay. Particularly if there's a spiking Google trends just impressions it's just people more people talking about Bitcoin out there in the world thinking about Bitcoin and then inevitably going oh what was Bitcoin and or finally not that mate and asking them out to buy Bitcoin. So give a trends are a very good metric so and the being so high at the moment is really quite important is pretty neat now we've got the last five years of Google trends on the screen right now and you can see I guess this was 2016 this is probably the last Bitcoin having the peak of searches was 46 if we look at it right now it's already 50 with a projected 100 so that would be double already and we're not even at the peak of the happening everyone still has to write their article. So the Bitcoin price is going up by crazy blah blah blah and for every one of those articles that they write that could continue to drive the price up I think as we start to talk so heavily about the price it's only right that we should check in with the magic eight ball the source of all truth in all that is Bitcoin this special magic eight ball will the price of Bitcoin be higher this time next week. I'll tell you as I see it yes yes I see it yes all has spoken by by I'm not going to go up next week and also I mean more than all of that Bitcoin's true value is the technology itself and think like how far along the technologies come since the last halfening like just remember that question for me is it is and I always kind of reminiscing about it. This on it there was a huddle the hot one of the hard battle conferences and it was before the lightning network stuff like really kind of kicked off and had started I think nobody know to test and else something and you know it's still very buggy and someone asked about one thing to pay one wanting to pay for Bitcoin that local public to expensive and I think Adam back he suggested that they had a tab and then they like pay down the tab and then all they have a tab and they work up to a certain point where they're okay paying the transaction fee because it's like the paying 100 bucks. So something and then all the all the B cash types and all that kind of jumped on the back of it like oh that's their their proposal as a tab in a bar. But Christman think what's happened since then like think about the the stuff we've got we lightning that we think about the stuff we've got liquid it's incredible the amount of infrastructure is just which is out there now and the amount of development and like clever developers and different type like application developers like not just crazy cryptographer protocol developer types. You know the sorts of people who actually go there and build usable applications out there in the world like so many people are experimenting with Bitcoin at the moment like. And then if you go back just to the financial crisis of 2008 and think about there wasn't an option there wasn't an on proprietary money people could turn to when proprietary money start to fail. And people had those conversations in 2008 about you know maybe the way we have our version of money is broken at the moment what are the choices out there. And now like Bitcoin is going to share the stage with with these solutions and people are going to understand it's value proposition and particularly that it came out of 2008 I think will be very relevant in the the mother recession probably depression which we're going to have. So so yeah that just the technology look at the technology alone and how far that's come and you know it's value has very much more than 10x on technology alone. And then the time things like the hash the hash rate the number of services that are using it the there's just at you know the other benefits of like you know being slightly less centralized in China than we were x number of years ago. So there's a huge amount of kind of benefits that have been yeah been building in the sidelines and from a really agree with your infrastructure cyber you know we're seeing some awesome apps you know coming out that are really. And thinking about the user experience that you know you may jump is quite a leap from the old qt one example or just rpc was on a command line so there's some amazing stuff coming out and it just keeps on coming out more interesting stuff lightning network enhancing enhancements other things like state chains I know that. And a call most blocker looking at that at the moment so there should be some stuff on get and there's just and that that will provide a different you know level of liquidity that that lightning doesn't so I think that's so many. Yeah and also just like branding like in 2016 a lot of people are arguing that all these other solutions were bad and Bitcoin and they could do x and they could do smart contracts they could do this they can do that. Well now we know when we always know but now it's very much more public that you can do all these things on Bitcoin but we're taking our time and we're just trying to get the Bitcoin protocol nailed down and then some little lightning network fast transactions and things so. It's actual PR is better I mean even like companies like Microsoft you know they're using it to the leveraging all that hash rate and all that security for securing digital identities and there's all this like commodity use cases which are coming out of Bitcoin which just didn't exist like you know 2016. These big companies really want interested in Bitcoin like they were just interested in making their own bitcoins where now people understand that Bitcoin is a you know a commons public utility and that everyone can benefit from it and build their services on top of Bitcoin so. Oh man so make me so bullish got down. And as a as a protocol it's moving you know people often compare it is like TCP IP and you know TCP IP is actually quite boring but it's it's the underlying technology that powers like all the coolest stuff that we sort of surf on today and Bitcoin is being used more as that infrastructure it's being that you know the security models being leveraged so that people were time stamping documents is becoming the we know the most accurate time stamping clock on earth. So there's all sorts of side things other than the value of Bitcoin itself and the store of value in the other kind of general properties we see from a monetary perspective. That's like the the I've said loads times but I think that is like the vulgar thing to do with Bitcoin is like there's this thing it's digitally scarce it's got value let's pass it between each other for stuff you know like it's pretty. It's like it's like finding loves to gold on the floor and thinking now we'll use this to pass for between each other like there's a whole bunch of other like most sophisticated commodity uses which we're going to see being built in and around Bitcoin more and more. For you know just the amount of security and the power is consuming. We've also seen an explosion in Bitcoin YouTubers and Bitcoin podcasts Bitcoin Twitter people there's just tons more interest in Bitcoin than there used to be. And as fun as it was to have our little Bitcoin community and be so tight knit it's also fun to have this big community and this is probably the last time where we're really going to know. That there is a Bitcoin community by the time of the next having I imagine everyone in the world will be into Bitcoin so it will you won't be clear to say oh these people are in those people aren't they'll just say oh yeah. Everyone's in this thing now we also want to check out some of the polls we had just a couple more polls more people will learn about Bitcoin because of the Bitcoin having 58 people voted and 82% said true more people will learn about Bitcoin because of the having. Like Ben was saying earlier part of the design that Satoshi put in here if I can switch charts there is is that most of the Bitcoin's will be mined by about the third or fourth have any if we can see where we are right here this is the 12 and a half the third have any. And then this one going down here the 6 and a quarter by the time by the end of the 6 and the quarter which we would estimate for 2024 all things being equal almost 20 million Bitcoin will be mined so just a little bit left of the 19 this little edge and then the rest is just 1 million. So we can say very clearly to have things down the way there's only a million Bitcoin to mine until all of time so like Ben was saying if you look over here all the early bitcoins were in this period this should create excitement for Bitcoin it did right it was fun it was exciting we live through part of it it was amazing right. But it's pretty much over all the points are going to be in the hands which as Ben said I agree this creates kind of stability for Bitcoin you can't say well this many bitcoins have not been mined because there's not that many at all most of the Bitcoins have been mine they're out there they're in circulation somewhere lost somewhere burnt somewhere used all these things you know the essence ups and downs. But this this is it so it's fair now so if you are waiting and you're saying oh it's not fair I want you know this percentage to be mined well that's it it's fair it's out there we had another question here. Because of the Bitcoin having production will eventually decline to near zero in 21 30 47 people voted 83% said that this is a small problem 17% said it's a big problem maybe they're going to live that long. But we might have other other Bitcoin's other systems other solutions and like we're saying earlier the transaction fees might rise so much that it'll encourage the mining of Bitcoin. Yeah man we're going to have like we should have like high how transaction fees make sense I mean when you look at the work which is being done for you know taking stuff off chain and things like channel factories and you know when we get taproot and she wants to do all this stuff we're going to be able to do a lot of things like that. We're going to be able to do a lot more with the Bitcoin transaction so we get a lot more for our money just from one Bitcoin transaction so the concept you know our grandkids to be like what the really you sent main no on chain transactions to other people will be like yeah and that's the price of a house to do that now so these miners are still going to make money they're still going to make loads of money just from fees the fee markets you know it was in the design I'm going to suppose to actually suggested when people brought up that question was what we're going to do. When we were now of a bit rewards for miners and so we'll have a fee system and that's that's what we have so we were I mean a transaction this so much you can do with a transaction a Bitcoin transaction. So yeah so we'll get our values worth and. Yeah it's also it's also possible that a company like Amazon could be so dependent on Bitcoin that it's worth it for them to mine Bitcoin or maybe a government like the United States would be so dependent on it would be worth it for them to mine it even if the rewards are very small just mining it to keep the network going so we can keep sending around transactions so everything doesn't fall apart if that kind of non truly nonprofit mining like obviously they're benefiting in other ways. If that takes off we could continue the system beyond 2130. There you go I know it's not it's not a decentralized solution it's not like bomb proof solution maybe there's a better solution but as opposed to no solution at all I think that's all right. What went was it Bill Gates that was got a patent on some sort of internal Bitcoin miner or something or was that some sort of crazy conspiracy theory I saw i'm sure someone you can mine Bitcoin inside the human I think you just in fact disinfected disinfected it like to do that. I think it falls maybe I've been an April fall I think you have there's a lot of negative stuff about Bill. I mean again low you know getting more and more or less is the minutes roll on. We've got who have gone outside we've got fact Jack Dorsey the guy who got Trump in power well you know through his piece of software he's a true hardcore Bitcoiner loves the stuff yeah. It's actually as you can see that on your Twitter feed is built like emoji specifically Bitcoin so not like. I like like we didn't talk about it much when it came out because there was like a big like goofball solution of air oh we got an emoji but every time I. Every time I use it I have like a little warm. There's going to be a Bitcoin emoji after this hashtag like this is a special hashtag like other hashtags not like this so I love exactly this is a hashtag. Oh is that is that sorry is that that's included in the in the click ability is it is that I didn't know it comes with it and you don't have to even it's just put hashtag. When it automatically puts that little logo in there yeah yeah yeah like Elon Musk we've got there's so many people so many like actual people who have a lot of influence in you know people's decision making you talk about. Katy Perry Katy Perry. Yeah but she was a shit coin the shit coin now. Those nails. For many coins. Okay we got one more poll question says is the Bitcoin having good for and 68 people voted hotlers wins the day 91% of people think the having is good for hotlers. I think it's bad for mine or good for miners. This is mainly a hotler of vacation right this is them this is probably stressful for miners if we really want to say like like Ben was a maybe the smart miners have some money saved up they don't care they can keep paying it. The more close to the book miners the more kind of month to month miners this is going to be a tough one unless the price really takes off which it started to already but again it could dip and it could go back up and who knows how long it tips for. And all that kind of thing but yeah I think it's definitely good for hotlers let's see Dan good for hotlers good for miners. Oh yeah oh yeah so this this is going to be a good example of the classic squirrel squirrels nuts. The squirrel squirrel A has has good nut skills squirrel B has bad nut skills and the one squirrel ends up with no nuts at Christmas and if the miners haven't procured their nuts properly then then they may be missing out after the harvining this. They just sell it man they just want to pay for they just they're just happy they're making the money now I don't think any of them storing Bitcoin sell it by more equipment mind more Bitcoin like sell sell sell. But I'm saying that but some of the some of the wise rules will be will be stashing it for you know will be holding on to their nuts. Let's see if there's anything that we haven't covered we were going to go back to this this is from the Bitcoin Italy Wikipedia it's a very good source sometimes better than the American once we talked about how it's a currency with finite supply how the supply of Bitcoin is always going down because of the happening. We talked about the different reward errors of Bitcoin how we just kind of passed through the second reward and then now the third reward area the 12.5 Bitcoin reward and in just a few days on a round or around May the 12th we will enter into the fourth era this six and a quarter Bitcoin era like we're saying this go all the way to 2024 when they're estimating now that maybe. 100 and around 19 million 19 million of the Bitcoin will likely be mined by the end of this period so that's all but two million. We didn't talk about this much very much but everyone says on average every 10 minutes a block is produced a lot of people maybe you're new to Bitcoin and you're wondering what the heck that means there's kind of a difficulty adjustment so let's let's just imagine that the difficulty was at 100. And we had 80 computers pointed at that difficulty that would be good but let's say that we got 120 computers and the difficulty was only 100 we would be over it right we would be cranking out the Bitcoin well what would happen then is that the difficulty would adjust in our little example here let's say it adjusted to 140 so that now it's above the 120 computers we have in a similar way let's say that we lost computers it went down to 80 is going to be very hard for us to mind that we're going to be able to do that. It's hard for us to mind that 140 right everything's going to slow down during that period but then it's going to adjust back maybe it'll just back to 100 if we were at 80 so again these are just random numbers to try to get you to understand this this is a chart of the same thing i'm talking about showing us how on average if it's yellow that means that the blocks are increasingly slower if it's red the blocks are being solved increasingly faster most likely it'll come out in the middle in this green section. But as you can see this is why they'll be a little bit of variance so we're saying four years till the next having let's say we come out with some incredible super computers and that all the blocks are red and they're faster it's going to be a little bit less than four years right I mean if they I don't know how fast the super computers could be but the difficulty will still adjust it will try to keep things at an average of every 10 minutes and. Part of the complexity of Bitcoin is just all these different pieces that there's the there's the difficulty piece there's the happening piece there's the limited number of units piece that it's relatively locked at 21 million programmers could change it but it's hard to change it's that difficulty to edit ledger you have to convince all the programmers you have to convince all the miners and as we saw during the u a s f and the no 2x movements you also also convince all the users. And the users are really hard to convince a lot of them have access to good information. So just just very quickly so because it's just pinged up two minutes ago and as because we're since we're talking about block times and this is from coin desk so in an unusual deviation from the norm Bitcoin miners just produce 16 blocks in 63 minutes so that produced an extra block per 10 minutes just been extra sorry about that one extra. Yeah, extra six books that's awesome and I feel like I'm not. I feel like I've been seeing it here I'm keeping an eye on DJ booth coinal and Bitcoin all shows you the blocks every once in a while and I thought there were too many it brings up a little announcement and I thought I thought maybe Bitcoin all was broken but yeah. The reason that that would happen let's go back to my hash rate chart here on the other screen. Is that people want the last of these 12 and a half reward blocks if you are running miners now if you think about if you were a miner in China or wherever your goal would be let's get everything running right let's get every single miner anywhere that we've got on the system cranking out that hash rate and that's why we see here let's zoom in a little bit more. Last 180 days we can see the mining the terror hash it went up to around 123 terror hash it fell to 94 maybe people turning it off trying to trick the difficulty to go down maybe and then they cranked it right back up we can see 118 maybe 113 right now or yesterday these numbers might be a little delayed. But yeah we can see the reason to do that is to try to get the last of those 12 and a half block rewards so it is very exciting exciting time for the miners. Let's see anything else we should cover i'm going to go back one more through the article make sure we got it all. Where's that many questions in the audience I think you guys are we talked about what happens when all the bitcoins are mind we talked about how there's actually less than the Bitcoin number out there a lot of bitcoins have been lost a lot of Bitcoin's been. Bitcoin's been. People you know lost them on purpose some of them are waiting in a back to the future script to be delivered to Craig right inside no. And yeah that's about it we hit the end of the hard it's just that we're true you know like. Oh don't it would be the 2020 that would be that that's all been don't because that's like that's going in line with the covid breakdown UFO. The simulations like. He got the delivery and remember the delivery wasn't the private keys it was the public keys so we could see all the money that's there that he can't move and can't have access to. And it was just like what you'd expect from a con man like he put up a bunch of newspaper and stuck them in an office and sent them to them down the future and gotten everyone really excited about it and when he opened it up it was just a bunch of newspaper. And yeah just wait for his next trick that's I'm sure what you say next you say just wait for my next trick so we're very excited for the Bitcoin having here I hope everyone will come back and join us around May 12th we're going to do a Bitcoin having show right here on the world crypto network and remember just like last time four years ago 2016 we're going to invite the audience so. Just about big famous fancy people or whatever because Bitcoin doesn't give a shit about that it's about everyone it's about the audience so I hope you guys will join us I hope you'll come on you have to say that much you could just tell your Bitcoin story that be cool how you got into it tell it for history or you could just give a shout out to Bitcoin like a wedding video be like hey you know cute looking couple you're going to have a great honeymoon you know happy happening something like that we'll see we'll work it out when we get closer to the event. But first before we end the show Dan to have anything to share a story of the week or prediction I have a story of the week is that I've kind of more officially now taking over is owner and CEO of reward portal dot com which I am in in in the process of you know having a few decisions as to whether to potentially adopt a Bitcoin lightning route only maybe I don't know. Oh, so yeah a lot of exciting stuff there so for the moment if you want to just like scoop up some really cheap shit coin free shit coins then go to earn dot reward portal dot com new site renovation coming soon and yes and some some some big kind of cool stuff hopefully happening so yeah keep an eye out for that please everyone thank you very much. All right let's go to Ben. I'm open on my Facebook story of the week. Can we drop your face you know or whatever it's gone. You can try it you have to turn it on we can't turn it on. I can't I can't turn it. No it says I cannot turn it on because you've you've stopped it there we are. Oh wow. I was just asked you to start a video. There we go. I mean not a lot really I mean we've just been working on the island bit stuff. We had a couple of people join the project that was called couple of pretty really good developers joined the project. I know you didn't you extension which hasn't come out yet but it's just kind of being reviewed and that's like a really easy way to manage your users to say if you're a computer games developer and you're building a computer game. Then you could just like generate wallets so you can have Alan bits as part of your development stack you generate wallets and then just you know bringing the defeat the. You know the funds and the transactions into your software and then send them receive from Alan bits. So it makes it easier for developers to just kind of like take a lot of the heavy lifting out of building stuff which actually there's quite a lot of tools being built for that like development tools so it's nice to see that Alan bits kind of clicking in with them. So yeah some some cool stuff going on there. Apart from I got a couple of like other little things that I'm getting distracted I want to play around with. I want to build some stuff I've got some of the fun really cool projects which I don't want to talk about now. No, no, I don't want to talk about in case it builds anyone's hope up but I've got some had a couple of cool ideas I wanted to work on the next couple of weeks so hopefully before the hardening or go get made. But yeah, Alan bits man. It's doing well. Oh we got hacked. That was pretty cool. What kind of bits to hack so there's something there's something called a depletion attack which is where you make a lightning transaction. It's quite good actually we should educate people on this you make a safe you have a lightning service where I request an invoice as a user I request an invoice. And then oh so now I give it an invoice. But I force it to go to my node and then my node then charges keep doing loads of times and then you just because as you can just if there's no kind of reserve. So say if you've got like five thousand sats you know five hundred thousand sats in your wallet and then you pull out five hundred thousand sats you can like then pay yourself a fee of like ten thousand sats as well. And then you can just keep doing that a whole bunch of times and then still loads of money. But we like we had some systems in place like someone did it is depletion attack thing way quicker than we thought someone was going to do it. And we had some systems in place they kicked in and then it got a access to their account and like it was just like this is on alambits.com so you know I was able to just go in and just see this do to the account and man he was like putting a lot of money through alambits try and steal a lot of money. But thankfully it'll it'll kick down and it all worked. And it ended up that we've got like a couple hundred quid of his money and he managed to steal like a tenor so if you're out there you know I'm sorry I got a lot of money like I know maybe give you back as a bounty to like find some more bugs or something so. So I don't know what you do that I'm sort of holding it like what do I do now like I don't want to keep this because I feel like I'm stealing from this guy's trying to steal from me. But that in the best way for more security for more bugs. Yeah, I think so I think bouncy for security yes and that's probably the way to go. But it was cool it was just cool to see like it working and then we're able to patch the bug and now it's pretty pretty. For proof like you can't do the depletion attack but apparently it's a very very common I'm speaking to I go from blue wallet that was pretty cool as well like loads of other developers like man like it's such a. A generous friendly community like the Bitcoin Lightning development world. The amount of like quality high top devs we have like just telegram and I was just saying dude you need to do this this this this to patch it and. And like I go from blue wallet what a genius that guy is Jesus is he's one of those like you know. He's like he's like it's it's a good thing he's not a black cat the world would be a much scarier place if he were. So yeah that was fun felt like a felt like a film like a cool like hack a film defending against the. Was it like was it like in the in the films where you're like in the basement and there was stuff moving around and you're like pass it. Yeah yeah yeah. The timer in the background. Classic. Have you got any if you got to eat just very quickly any any more hardware based gadgets because I like the car by base gadgets. I got the I got the image I still need to do the tutorial for I've not done the tutorial for I need to do that for all we got the the um. The lightning there's a lightning sprint thing happening on the night. We're organized by full mo and they're brilliant that'll be on that they've got like their own matter most thing anyone can join in and have loads of like. Jitcy streams anyone can join in and we'll be streaming on that will crypto network all day every you know for the two days and I see if I can rip Joshua you down or you Thomas into the helping out with that. And we just like interview people who are like in it's like that country had in the conferences kind of. But there'll be people like building but not have really done any hardware stuff no it's all I've gone all softwarey. It's a bit lame really get back on the hardware but I mean hardware is a bit redundant now isn't it like no one's using minus outermen also 80M's out there in the world right now. All vending machines. Well maybe that maybe it's going to go like in China I've seen already they've in loads of like places where entry points 80M's they've actually got a hologram so you just kind of go. The don't know how it's going. I just want to do a show the fundraiser one more time and thank everyone for watching and donating and I've been doing lots of shows this week. week. So check it out right here on the World Crypto Network. I did a show with Adam Meister a couple days ago. That was this week. Yeah. Yeah. Sorry, pop up my thing and I thought it might be an interview. I'm going to go watch that now because I was. Yeah, that's a new one, not one of the old ones. And yeah, we did that live. We talked about the World Crypto Network 2016. What it used to be like. All the people we used to work with and the videos. It was pretty fun. Adam as an audience member, of course, he makes his own videos now, but he had a lot of good, like kind of, I watched this and I thought of that type of questions. So I really enjoyed hanging out with Adam and we might do another one. People like that. And just in general, it might be fun just to get a lot of the other old people back talk about World Crypto Network, maybe play some of the old videos that might be fun. So we're working on that. Then I was on Adam show this week. So check out at tech, bolt on Twitter. It's on Adam's backup channel right now. Unfortunately, they took his main channel away. They're having some YouTube troubles there, but it was myself and tone veys. We actually talked about the Bitcoin happening, but we had some different approaches to what we talked about on there. So check that out on Adam's channel and forget what else there is. I think that's it. That's it. The third thing is that we're doing is this show right here. So that's the third show that I'm doing. I made it to the third show. Glad you're doing shows, man. I like, yeah, you know, first of all, most of them are fine. It's just cool to see you doing loads of shows. I'm going to go check them out. I was doing a lot of daily shows recently. I have taken a break from that. Maybe Dan and I'll do the Thomas Hunt show or some kind of call in show tomorrow just for fun because it's the weekend. I'm up for that. Thomas Hunt shows cool. It's a bit more political than Bitcoin. Yeah. Yeah. Well, it's just tough. So right all the time too. I said, I said, they'd go seeing all being rolled out. Like I said, they'd be rolled out. Right now, what we're looking for is the big failure of the second strike that there's going to be a second, a second wave and that we're going to in America at least, we're going to reopen to encourage the second wave. Texas is on the same. We're doing the same, man. We're just going to let off. What's happened is this thing's like fallen upon humanity and all governments can do is like everyone stay the fuck at home. Just please don't overwhelm our services. Stay at home. And now they're dealing with all the people who are sick because they're out and about walking around in fact in each other. And now we're getting some flattening and then like the UK government Boris, for example, he's like, oh, we've hit the peak of the curve. Now we're going to start battling and down and we're going to start to take the pressure off. Everyone could start having their lives back in. It's complete and not a ball. Like, not a lot of people have been infected. As soon as you let people out, they're going to get infected and then that's going to go up again. And it's like all they can do is try and not let it overwhelm health services, which means that we could be we could be stuck in for years. So And that's what I was saying on the Thomas Hunt show. And no one liked hearing it because everyone's like, oh, it's too much honesty. It's too painful. The reality that we're going to have to wait for a vaccine. I know they can't take it. And yeah, we're having the the armed militia showing up to protest with their guns and no one's doing anything about it. And then meanwhile, we've got the whole all kinds of stuff happening. But that's all politics stuff we're supposed to talk about Bitcoin here or getting off topic. But I think we're going to head towards the end of the show. Maybe final thoughts. I mean, obviously we're going to have our havining party here. So we're going to talk a lot more about the Bitcoin having and the party. But then let's go to you and then to Dan, just like a final thought about the Bitcoin having. What do you think? What about the Bitcoin harvining? It'll be ace, man. And like this is the beginning. A few harvnings from here. They'll be public holidays. You know, um, uh, I can't shell because I don't want to like step on the toes of the people developing them. But there's some great like little fun projects to kind of engage people and get people excited about the harvining. So I'm looking forward to seeing those come out. But now, uh, that's going to be great. It's going to be a real celebration of something dependable and regular and stable, which is funny. You know, we talk about Bitcoin. It's often it's like a roller coaster experience, but actually, you know, it's dependable on Bitcoin doing what it does. It's working along. Every 10 minutes, every 10 minutes when I clap my hand, a child dies now. Um, I know. Savage. There you go. For that. There are. It was that fun. Oh, no, no thing. Oh, what? Hello, hello. Stop clapping your head. He said, I'm clapping your head. Yeah, that was it. He was like, every time I clap my hand, a child in Africa dies. And then some guy in the station, I was some guy in the audience shouting, stop clapping your hands, you prick. Oh, geez. I want to go on. I also want to do it. That's what we're doing here. We're going to be celebrating in YouTube on the zooms or whatever, where the YouTube people, um, the next having will be celebrating in VR. Everyone will be in VR. VR will be hugely popular. It will be everywhere. Uh, it'll be unstoppable. We'll be in some kind of YouTube VR, something like that. Dan, Eve, your final thoughts about the having. My final thought is I am going to fish out. I found it recently. It's an old, it's the first minor I had. It's a USB USB ant minor. I think it is. Like I got it in mid-dish 2013, along with an order of loads of butterfly labs, which never ever turned up unfortunately. But you live and learn. So yes, I am going to try and get it working so that it's mining whilst we're doing the show. Because wouldn't it be absolutely, I'm incredible if this tiny obviously is never going to freaking happen. But imagine if this got the first six point at six point five block, it would be amazing. Two five six point two five block. Be credible. So that's it. We're that bad. We're unlikely to be struck by lighting, but yeah, that'll be fun. So we're lighting on from Mercury. Yeah, from another planet. It looks like Ben's got the VR rig already. It's going to be big. Like four years from now, I don't be this, this will be it. That's it. I'll just walk around with that on all the time. I think that's where we're going. And certainly they're already, they're already going to be doing some VR chats and some VR hangouts. And hopefully they'll have one of those theater rooms. Maybe they can check in on our show from the VR world and so on and so forth. Because we don't want to pretend like it's not happening. We know it's happening and it's cool and it's Bitcoin. I think my final thought I had one more thing to say. Let's not lose the fun of Bitcoin. Certainly I titled this show Bitcoin having because the Google searches for Bitcoin having took off. So I don't want to not be included in the Google searches. I want more people to watch this show. That's part of, you know, we're doing it to have more people in the chat to have more people watching all that kind of thing. But this is the Bitcoin have a name. Right. In Bitcoin, we invent words. This is Alice in Wonderland. This is the internet. We do abbreviations. We do the abbreviations into a word. We have a guy posts on the message board one time. He's drunk. He's a bad trader. All he does is hoddle. He can't even spell hold right. And we make it a meme and we make it huge. So this is the haveening. The haveening is the event where the Bitcoin having occurs. The Bitcoin having is the boring part. That's what happens every four years. The Bitcoin haveening party. That's what we're bringing to it. We're bringing the color. We're bringing the people. We're bringing the excitement. We're not letting this just be a math problem. But if we weren't here, it would just be a math problem. So let's keep saying have it. Even though having is getting more and more popular. But if you're an old Bitcoin or you'll be making up words like me and if you're a new Bitcoin or you won't be, and that's how we'll tell the difference and they won't let you into the citadel. So there you go. Now you know Joe sent you. You've got the password. But thanks again to everybody for donating and joining us and giving us a thumbs up in the share. YouTube should send you notifications if you click on them. They're crafty that way. If you don't click on them, they don't send them. So we probably did too many shows and screwed up your notifications. But that's what's happening there. Make sure to click the bell, subscribe, make sure you're still subscribed. Sometimes it unsubscribes you. But that's about it. We'll come back again tomorrow. I don't know if we'll have anything to talk about with Tiger King, but there's always some politics. Maybe you guys could give us a phone call. So we'll be back tomorrow morning for the Thomas Hunt show. It'll be fun. And then pretty much a couple more shows and then the having party. So it's going to be great. So I'll be sure to join us here. Thumbs up in a share. Until next time. Bye. Bye. Bye.