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, Ben Arck from BTC, IoT. Shamao. Josh Gagalla from Voltoro. Good evening. And I'm Thomas Hunt from the World Crypto Network. Moving on to issue one. Issue one, Venice, Whalen, Army starts mining Bitcoin for unblockable income. Venice, Whalen, the subject of harsh sanctions and restrictions from the United States, has begun mining Bitcoin with the army as a goal of generating unblockable income by passing US sanctions. Ben Arck, will this new Venice Whalen program be successful? Will they create unblockable income? Well, yeah, I mean, as you said, harsh sanctions. So, you know, a lot of these sanctions, which have been levied on some of the light in American countries have been largely throughout the world, you know, much of the world class them as illegal sanctions. And I think with, you know, last year with Trump and with an American first policy, which has a real negative effect on what these countries, they feel more and more that I'm particularly exposed with the US, being the US dollar becoming weaker as a board reserve currency, they're worried that those death throws of that dying hedging me is going to some way impact them in a negative way. And yet, it makes sense for them to have a way of being able to conduct commerce among each other, which isn't reliant upon the US dollar. And, you know, when they, if they wanted to shift to another currency, then they're going to be in the same boat of, you know, being dependent upon that currency and the nation, which prints that currency. So Bitcoin is absolutely perfect for them. And it makes perfect sense. A lot of people are worried about the fact that state is, you know, a state is mining Bitcoin, but I think it's just the inevitable. And the first of many who were going to be joining them, a mining Bitcoin, accumulating Bitcoin, there was a great tweet by Mighty Bank, actually, which is having a digital currency makes the need for the US dollar less relevant. But other than sovereign nations to hold in reserves, said another way, the world is being freed from the shackles of being forced to conduct most international trade with the sovereign currency of one nation. The fact that Bitcoin exists and provides a global market with an apolitical distribution of peer-to-peer currency that cannot be controlled by one nation, central bank or corporation means that the days of the dollar being a board reserve currency are numbered. It's only a matter of time. And I think it's absolutely correct. Can you imagine a world, I mean, I've mentioned it a few times on this show, the in Britain Woods, there was this proposal by Keynes for the bank or which is trying to try to produce an apolitical currency which is going to be controlled in a federated way amongst the nations involved in it. With the idea that, you know, having a political currency as the world reserve currency isn't particularly good, isn't particularly good. And if Brad, if, you know, Paradek, Harry Dexter White hadn't had his way and come out of the Bretton Woods meetings with the dollar as a board reserve currency and had there been something which was apolitical, then I imagine that a lot of these sort of proxy wars and things which happened to keep the dollar in vogue and in power wouldn't have happened and the last century would have been a lot more peaceful. I imagine I don't know. So yeah, there's this gift, which has been given to humanity which is apolitical money and I think that now nation states are waking up to it particularly those who were oppressed by the US dollar and, want something which is unstoppable and isn't within their control and Bitcoin is absolutely perfect for that. So, you know, they're one of many and it will just propagate in more countries. We'll do this. Sounds like the beginning of a Bitcoin century, Josh Gagalla. You know, the history keeps repeating itself. You know, the Daenerius was, which was the coin, the money of the ancient Rome, you know, that was invented like 277 BC and it lasted for a long time, you know, I think like 54 after AD, you know, something like that. Like it was a long time and it was made up of 250 grains of gold. But what happened is this is the art of gold shaving, you know, shaving off the coin and I'll get to why this is it. This is to do with the same thing is that the gold coins were always used to pay the army and to support the empires. And why was it the army so important because the next thing was silver which was used for international trade and the least valuable was copper which was used for people, you know, the commoners. But the army just like the emperor's got the gold coins. Of course, then what happened was they would start to shave off bits as they got poorer and poorer and that this massive empire to control and they would send people, you know, these young kids to sit on top of a wall for their entire adult life and they'd come back sort of a crippled mess, you know, but these people would sit up there and they'd expect to be paid and eventually when they didn't get paid, that's, you know, that's exactly what generally happens to most states is they get overthrown by who the army because they end up not paying them anymore. So this is this old shaving gold off the sides of these coins and that's why coins have ridges on them is to see that, you know, you haven't been shaved like that, that the coin you're getting is actually this many grams of gold or grains of gold back then. But so now what seems to be happening is that they're saying, hey, you know, the army, let's, we need to give the army the best currency because otherwise they'll overthrow us. And what is the best currency right now? The one that you cannot debase? Well, that's Bitcoin. And if Venezuela can actually try to use, well, first of all, refine the oil reserves that they've got the huge vast amounts of oil that they have, you know, Venezuela should be one of the richest countries in the world. Of course, they're not. They're one of the poorest because of the corrupt ridiculous system. So what do you want to do when you have a corrupt ridiculous system where everyone's starving? Well, you pay the bloody army first. And that's what they're doing. He who controls the mine controls the country. I just think it's really futuristic here that we're talking about Venezuela, the country and the army officially mining Bitcoin. I think we're to see a lot more of this in the future. Remember in William Gibson's books, he predicted data havens in Brazil. So we're starting to get there. Certain things, computers are moving to certain countries and it's starting to spread out as well as what Ben said about the dollar no longer being the default currency. Venezuela making a move like this. Who could move next? Which goes well with our exit question, exit question. What country will mine Bitcoin officially next? Or spoiler, who's already mining now? Ben Arck. I mean, China, any country which wants to escape US dollar hedging me, hedging me, I can't even say hedging me, but there we are. But I imagine there's lots of countries already mining in one way or another Bitcoin, but not officially, but China probably officially soon. Particularly with their new reserves, they've got Bitcoin. We say got from plus token. Josh Kegallit. China. Yeah. I mean, they're already effectively doing that by basically blocking off the, well, when they banned the trade of Bitcoin, you've got to think, right? They banned the trade of Bitcoin, yet all mining or most mining or a lot of mining is done in China. So what are these miners doing? How are they selling? Where are they getting the cash from to pay for the massive electricity that they're using to mine the Bitcoin? They have to trade it. And if trading is illegal in China, well, where are you going to get the money from? You're obviously going to sell it to someone. And I would have to say that it was the state all along buying this stuff and huddling. So I would say China actually started it first. It's a trick question. The correct answer is intelligence agencies. Intelligence agencies all over the world will begin mining Bitcoin, Monero and other privacy centric coins generating their own funds so they can finally do their own operations just like they've always wanted. Moving on to issue two. What's coming to the new Bitcoin Core wallet in 0.21? The new version of Bitcoin Core wallet is coming out featuring descriptor wallets and solving major problems with legacy wallets designed by Satoshi himself. Originally wallets were focused on only holding keys, but now Bitcoin has a powerful scripting system, descriptor wallets and more. A new sequel like back end is being implemented, solving many problems with Berkeley DB. Josh Gugalla, your thoughts about the new Bitcoin Core wallet. I love that it's only up to 0.2. That's amazing. One thing I mean, I really wish that the core wallet would also focus a little bit on the second layer stuff. I don't know if that's a smart thing or not, but I really wish Bitcoin would push forward with the second layer because as PayPal and all these big players are coming in now and people are buying Bitcoin and wanting to use it, this whole huddle meme, it's fun and all, but I think it's important that we start getting lightning to be used because there's the other currencies will right off the back of this. We saw this in the last 2017 hit is when Bitcoin started becoming so expensive and all these other currencies were like, I'm the next Bitcoin, I'm the next Bitcoin, by the way, I'm only down at $1. So invest in me instead of Bitcoin because I can move for like cents and they would use all of that against this and I really think it's important that Bitcoin focus on that second layer solution now. It's what everything the community's been fighting for to get and I'd love to see, I don't really, technically know if that's a good thing, it's probably a lot of lightning stuff Ben, you can probably answer this a lot bit of the night. A lot of the lightning stuff should be separate is what I think they would say to me is that it shouldn't be together, the core should be its thing and it should be made better on chain but lightning should be the next protocol above that. So I just said one thing and then said the others. Ben, ARC. Yeah, no, I mean obviously that mindful of lightning network doing so well and they want to try and facilitate it doing well. But I know there's a lot in 0.2.1. So 0.21 still beta, it's a warm blanket beta but we're still there, we're never going to get to one. It's been 11, 12 years, 11 years, 12 years. But no, so one of the big things is the descriptor wallets as opposed to kind of a key based wallet but it means that you know taproot one that comes in which looks like it will come in where minus supports at like 86% or something. When it comes in it will be very easy to make wallets with taproot support with these new improvements which are in 0.21. So it's not been released yet but it's the new release candidate. So please do everybody out there download, run it, play around with it. See if you can break it, try and break it if you can then get back in contact with it means you shouldn't be able to but if you can then get back in contact on the GitHub and raise some issues. It's really helpful for the developers. And the SQLite thing is cool. I mean like I've only really played around with like my SQL and I know a bunch of a couple of other database systems but we use SQLite in L&Bits and an SQLite database is essentially just like a little text file which the database information is in. So you can kind of put them anywhere and store them on in any folder. So it just kind of makes it, it means you can play around with the software a little bit more and have database stored in different places. And SQLite seems to you know it's a very good functional database. You can run a big database off it. So that's a good improvement too but I think the real news is the descriptor wallets and then it's support for taproot which then again taproot you know will make when you throw up a lightning channel that it won't be obviously throwing up a lightning channel will just be look like a normal transaction and then all that you know complex script thing will just be hidden and hashed away so just like a normal transaction. So I think it benefits you know everyone so not just you know lightning it benefits the core transactions as well obviously having taproot. So yeah so I own chain transactions as well having taproot. So yeah it's there's a lot packed in there they still haven't got what's the thing I've been waiting for forever and it's it's a SUMUTXO which was a concept by one of the core devs and that would mean that you could run a node and then the node would be instantly functional and can it like be a prune node and then in the background then it would just download blocks it would mean that if you if you if you're like running a mind node or a blitz or some like a full node that you could instantly play around with it well after like a few gigs worth of download and then you know your shitty internet can carry on downloading blocks for weeks as a madown eventually you'll end up with a full node I really want that to come in but I think that's a little bit further but I actually for some reason I thought it was going to be in this sort of release kind of something might be pushed in there but it's not not there yet but no exciting times and as always you know Bitcoin continues to improve we shouldn't be dogmatic the software is changes so yeah it's great great work the core guys great work and Bitcoin improves moving on did you know you can buy world crypto network t-shirts at shop.worldcryptoneetwork.com yes that's right world crypto network the mug the treasures don't float t-shirt Bitcoin not bombs 2020 havining addition and world crypto network the shirt all at shop.worldcryptoneetwork.com moving on to issue three Bitcoin price could hit 50k in 2021 Bloomberg analysts say the price of Bitcoin is rising and the path of least resistance is on the higher side the cryptocurrency could more than double from its current value in 2021 according to Bloomberg joshka gola the price of Bitcoin nowhere to go but up. I love that you know nowadays it's all these like analysts at Bloomberg and these hedge fund managers of coming out of the woodworkers experts and on price of Bitcoin well I got to tell you guys if Bloomberg was such champions of understanding the price why weren't they they're at one dollar saying my god this is going to 30 this is amazing or whatever like why is it now that they're all of a sudden experts you know they're just carving out the legacy system is trying to keep up with the moderns with the new system and trying to go well we're still relevant we're still relevant you know I would much rather listen to some of the people that are for instance on this channel and many other great youtubers in the crypto space that have been here for a long time have understood the patterns a lot better than some of these so-called analysts who sitting there from the old stock exchange trying to analyze why you know a trying to analyze why why I don't know airline stock goes up when when they're all grounded and stuff and and so that you know at the end of the day listen to the the OGs here people that have been watching the chart because crypto is Bitcoin is has a life of a tone has its own cycles it has its own pulse and has its own reasons for going up and declining and definitely not saying that they're stupid these people they are smart and they'll probably make good calls but but I just feel like we should support the community rather than looking at the old the old guard and saying oh they're so good at this now too you know let's let's support us as a community I agree with Josh and I do have an update from watching CNBC they used to have Bitcoin in a strange white box it didn't quite fit in with the rest of their graphics it looked like it was hastily added like add that Bitcoin thing in and after a while as the price of Bitcoin went down the box disappeared and they stopped talking about Bitcoin well now the bitcoins in a different place it's down where the Dow Jones is it's where the large stock exchange averages are and it pops through the rotation just like the other stock exchanges not just a stock but an entire stock exchange so it's interesting to see these people change their tunes slowly I agree with Josh where have they been the entire time nothing has changed about Bitcoin all the things that we said six and seven years ago now are all the same things that they're saying they're like wow this could really be a thing but the way they say it it's like they just discovered it so that's fun to watch then arc I mean a few things have changed you know obviously I mean the software as we said continues to get better and then I really think with the segwit getting in and the users proving that they're the ones who actually control Bitcoin in a truly decentralized way was huge for Bitcoin and I mean obviously these people who are making this course I'm thinking of these things but you know a lot of like us sort of you know crypto anarchist types or or anyone who's into cryptography and whatever we could kind of see the value in Bitcoin thought it was cool and we could send value and blah blah between each other but you know it's it's proved itself as a functional and resilient system it's continued to march on not only in price but in technological advancement so there has been a lot more value added to Bitcoin but I mean these people are just you know they're watching for a garden they'll they'll move money around to whatever they see as something which is it's going to be resilient and it's going to be stable and and now with the price becoming you know getting to these sort of eye watering high amounts without saying that I mean obviously when I hit a dollar people thought that was eye watering where within the community of Bitcoin but like we've known for years that this is a great technology you know continues to develop get better prove itself but now I think is proved itself and all these other people are getting on board we're still early though you know these people who are predicting price points for Bitcoin in legacy finance they're still early you know is it's still a very niche asset class which few people are actually into an interest in like you say it just pops up now on the trading platforms is another option for them but they're still yet to realize the true significance of Bitcoin and what it can become. Exit question the price of Bitcoin this time next week higher or lower Josh Kagala I think it's going to go lower next week yeah Ben Arck price uh yeah higher or lower higher hi baby you in the chat what do you think let us know in the chat higher or lower also give us a thumbs up and a share subscribe down below Ben and Josh are going to be giving away Satoshi's at the end of the show so get your lightning wallet ready or is this it now you want to show it now Ben. There's a faucet there it just gets some uh stack some sats you know we're moving so get some sats. Getting out the new lightning wallet sponsor by LMBIT tell me if it works hopefully it'll work scan that with your lightning wallet and then get some sats there you go yeah yeah and if you tweet and subscribe uh she's I've got to get more organized because I definitely don't want to do it on chain. We'll do it next time we'll do it next time but no man pop it pop in a can you stick it I don't know I mean like I know you are else they get pulled out then they are the chat someone stick it an invoice in the chat for like for why don't we just tell everyone stick an invoice in the chat for like 10,000 sys and then we'll just take it around the more. Do it do it 10,000 Satoshi invoices in the chat. Time is running out the chat closes when the show ends. Moving on to the next issue why Cuba is primed for Bitcoin adoption just like we've been talking about for years Cuba has all the problems of a developing nation remittances economic problems inflation and now government problems and now western union is ceasing operations in Cuba this month making it nearly impossible for millions of Cuban Americans to send remittances back home this looks like a job for Bitcoin then arc is this it is Bitcoin about to be adopted in Cuba. Sure it's very popular in Cuba as a concept and now Venezuela and our mining Bitcoin for you know to try and avoid sanctions obviously Cuba have been with the blunt end of that I think it's the longest running historically sanctions by the US so yeah of course they are they're very ripe for Bitcoin adoption let's hope yeah so it happens you know it's it's it's great when you see people using this technology in the way it's supposed to be used and that's avoiding control and sanctions and you know just being up to really send value to one another so I think we had I think it's an Iran wasn't it we had some capital controls was last year and then a lot of Iranians there was a massive spike in local Bitcoin buying in Iran and that was great to see you know it's it's the when the technology is being used by people for what it needs to be used for then yeah it's great to see so yeah yeah it's very ripe oh I know someone's talking about what right someone saying that the URLs don't fit in one message that's why we don't test things in the middle of this show let's you go so we always talk about the Cypress incident and how Cypress was more of an example of how we could take off during a financial crisis now years later with this Cuba problem we're a lot closer to having the infrastructure that we need for the people to actually be able to buy Bitcoin and then send it to their relatives as her mitten says or even hold it as a hedge against their companies inflation their countries inflation so I think it's exciting I'm not sure if we're there yet with Cuba we keep saying that it takes a lot of different elements to have this perfect Bitcoin country take off like we want to see and I'm not quite sure that Cuba is the technological paradise that you're looking for when you think Bitcoin adoption Josh Kugala your thoughts on Cuba yeah I mean the sanctions is really where states and governments these these these marfiers that have taken control and you pay protection money to in the form of taxation to you know protect you from themselves is really what Bitcoin's there to also get around like it's all about the people of Cuba should be able to trade with other people you know trade is trade is the base freedom human right I mean it's if you stop people from doing a just a a win-win trade a peaceful trade then that that's that's to me is tyranny so for Bitcoin to come along or or any cryptocurrency really that that that people choose to have a network of there are you know that that's that's the key right there to allowing free trade and prosperity and moving away from from these ridiculous global infrastructures of control and and that's that's what this is all about that's why rare digital assets are so interesting but by the way we just got a message here from a role and do tech asking why gold is going down and Bitcoin's going up is are people moving out of gold into Bitcoin and the thing is that the wider space don't move out of gold and going to Bitcoin they go out of gold to get back into stocks and equities and and everything else that's available to them they go into gold when they are scared when they just want to move profits off the table somewhere and wait and now that we have signs of a vaccine coming out that we've got you know the I think that the market is a bit more route they're ready for some more risk appetite in this market they're seeing like you know Tesla going up and up and up and up and they're like oh so the economy didn't crash and the matter of fact is as we know in the crypto space that we look at the stock exchange a little bit closer we know that the repo markets have been just basically keeping the entire stock market up they've the Fed has been buying the stock market to keep it pumped you know that you can tell such things because well I mean how how do car companies and that are like losing money hand over a fifth because no one's buying cars how do airlines stay keep going up up up when they're all grounded there's it's all nonsense so but that that money is pouring out of certain assets to have liquidity again to buy into these and to follow some pumps up I just hope they don't get stuck in the mega in the mega if there's a mega drop the mega dump the mega dump in the stock market yeah it sucks man I mean I I like the idea of one a month's your theory but you know what we've seen with the US and the buying up a stocks and pumping of stock prices it's just kind of isn't that kind of the likely outcome of a country which is trying to prove that it's you know still liquid and its businesses are still functional is to just buy up their stocks don't know how you get around that yeah moving on to issue five forget Bitcoin these cryptocurrencies are surging even more speaking of brand new experts here's CNN business to tell you everything you need to know about Bitcoin CNN business suggests that xrp the third largest currency as serves nearly 25% like coin polkadot cardano and stellar are also among the top biggest crypto currencies and I've also exchanged larger gains Josh Kagala why should people buy Bitcoin when they could get these crypto currencies yeah I mean you know these things do go up but they're very liquid as well compared like that's why they go up you know they're not totally liquid and some people can make good gains but I don't think you should be under the delusion that they'll go anywhere if you can trade them and make some money you know good luck to try but you know that's the difference between technical analysis and fundamental analysis fundamental analysis says that you want to go with the largest network effect in terms of money you know that I would say that the network effect are like Ethereum has a good network effect Bitcoin has a good network effect there are some others but a lot of them just make a lot of noise so xrp I don't see a large network effect I've never seen one person sent xrp from one person to another using a wallet at like a meetup or something I've seen plenty of people sending saying Bitcoin even Bitcoin cash you know like but but things like xrp is really just just a gamble on on a number going up and hoping to you know get on top of that and and then selling it again fun some people are like oh no but the fundamental is there it's got to be the next technology for banking infrastructure I'm like I don't care what banks use if they use a you know multi-segged database or they use xrp which is pretty much that so yeah I you know I don't know these these people come out of the will works and tell you something they always say there is an interesting story on xrp this week Josh they're saying that if there was such a vote that they could vote to burn their entire treasury of xrp what do you think about that yeah I mean I don't know why they would I mean the guy that started what's his name I've forgotten uh he's been slipped on and then but yeah he was like the richer in 2017 he he became the richest man above Jeff Bezos for like a second there but there's no way that he could ever sell all that xrp into the money he said richest man on the planet wasn't he by by far just for a wee moment there a wee moment and it was silly because you like you know it's just all just nonsense I I can be the richest man on the planet right now by creating I'll go on a theory in my credit coin I'll create Josh coin I'll create like you know a trillion of them I'll sell you one of them then yeah one dollar for a tenor yeah and then I'll be a ten trillionaire while wanting to you know coin market cap and and I'll be the richest man on the planet damn I think they should burn all the ripples it would be a great big party of burning and then after that the bottom would just drop out of it because why would that company continue to support it if they didn't own all of it right it's much better for them so Ben R can I get you an alt coin Josh coin I'm all in Josh coin man yeah there's just trillion there's only a trillion on so you sold a certain coin market cap so you know it reminds me we've Joey remember Joey coin Andreas is he's just speech you say a little Joey in the playground you have a little Joey coin but I was the promise and like to be fair the idea of you know to just make your own cryptocurrency at one point was very appealing and I can see why yeah it's interesting like you can just make your own money like and this is going to stop you and you can do it in a sort of decentralized kind of way but yeah I mean it's like you say it's a gamble it's gambling you're probably better off just gambling you know if you want to funny around with the shit coins then you know go join some gambling site and just play roulette you probably got barrod yeah some people make some money but I have met a lot of very very clever people who've lost a lot of very a lot of money on on playing around with shit coins particularly in the Bitcoin space it's not the sort of thing they talk about publicly and I wish they would I really really this is an appeal to those people who lost a lot of money on shit coins to talk about it more publicly because you have a few beers with them at these Bitcoin conferences and they start telling these stories about the how they had X amount of for thousands of Bitcoin and then you know now they're left with you know what 10 Bitcoin after all their shit coins shenanigans and trying to diversify over a collection of years so just stay away from it it's not worth it you know we all know Bitcoin's amazing it's going to go up technology is absolutely phenomenal it's got a gazillion commodity use which I haven't even explored yet you know if you're not if you're not happy buying something for a relatively low amount now and a amount which you know feels like quite a lot but isn't going to ruin you financially waiting 10 years and then being incredibly rich then you're a complete idiot and you shouldn't you shouldn't be allowed to you know I don't know you shouldn't be yeah I bumped into a Bitcoiner yeah or who used to be a Bitcoiner and in the 2017 pump they got kind of wrapped up in all the the shit coinery and I bumped into them and they said what did they say to me they said oh I said so she said something about Bitcoin being up in price and I was like yeah it's going up and I think it's going to go up and she's going to go up and then it was and then she said well I'm all in hollow coin and I was thinking what the fuck is hollow coin like I've never heard of it like it's obviously she bought some pitch and then bought this thing and it's still sat waiting for this you know promise which will never be fulfilled that it's going to go up yeah it's gambling it's gambling don't do it and and people like this you come out and write these articles saying good Bitcoin is going up but what about all these other shit coin currencies that they're responsible for a hell of a lot of heartache and people losing their money and yeah it's uh I've been very happy so far that there's not been much of that most people are just sticking to Bitcoin and they understand that so many of these are the things are just complete waste of time particularly things like XRP it's shit it always looks so easy and hindsight it looks like it was easy money but they had to be early they had to know something you didn't know and you didn't know that the other thing that looks easy is timing the tops and bottoms of Bitcoin that looks easy as well but actually is very hard let's move on to the next issue don't get caught up in the hype as Bitcoin hovers around 19,000 more people from CNBC are here to tell you the truth about Bitcoin and they say even though it's become more commonplace and popular as an investment since its last rally financial advisors are still wary of the digital currency Ben Ark should they be wary of the digital currency? I don't see hype you know hype was 2017 you know in a relatively stable world I don't see hype at all I just see a bunch of people who are like god damn work and I diversify portfolio of a lot of money and now the buying up Bitcoin because it makes a lot of sense because it's just go and look at the you know Bitcoin core get help look at the look at what some of these people are building it's phenomenal you know that the amount of innovation which is happening in a Bitcoin is pioneering just cryptography in general because it's it's it's such an important technology so I don't I see no hype I see I see you know a few people interested a few asset managers buying up you know some what we think of as large amounts of Bitcoin but in that world is not that big so no I don't even see the hype hasn't even started yeah so Josh Kigala yeah hype is something else than what it is now now it's just I think there's there's you know Wall Street hype like behind circles in Zoom conversations of people talking hey you know hedge fund managers going you know what my mate went did really well I think that's a good hedge hey look it it didn't disappear on every every time crashed it came back up and met it's all time highs every time so that what what does that say and and so yeah the real hype will happen when it hits 100k that's when you'll just start seeing like screeching from the top of the head from everywhere just go ah Bitcoin you know and calling at this and all this fun will come out about and at the end of the day Bitcoin price is just a price it's something people are willing to pay at the moment and are they the fundamentals of Bitcoin hasn't changed even from one dollar I mean it changed a little bit because we've got segwit and stuff now it's a bit more space in the blocks but but fundamentally it hasn't really changed so the technology is is really important to continue the spread of using this technology of circumventing sanctions of actually being useful because that's what everyone's betting on you know as well as the store of value of course it's the store of value it's the rarest thing on the planet and that's that's also there but but I'm just such when I see the stuff that's happening on the light in network how quick it is all these other coins are like oh it's so quick now all you need is one transaction on on chain and then you're in to this world where you can have infinite transactions on like tiny scale sub Satoshi it's just so class right when you see it actually happening download a wallet right now for all the you clowns out there that are like shielding some other coin just for once don't just repeat what you're hearing from others go and download zap wallet go and download blue wallet or or or a clear one of these lightning wallets do a Bitcoin transaction of a small amount and just try you know try some of the some of the things that are out there to do with lightning and some of the great stuff that pens work with Ellen Bits it's so good it's like instant boom boom it's there done already pre-confirmed wonderful and that's where the value is going to come in the long term that's where the big value is going to come from I mean I just I just you know shared a fucking a little picture on the screen right there a little scrambly picture and then someone can scan that with their phone and then pull like value out of a video which is streaming on YouTube that's amazing you know like in itself that's incredible incredible there was no there was no and that transaction which happened over the internet there was no one had to give any details about themselves no bank details there was no you know what's the what's the what's the what's the what's the surveillance capitalism happening there was nothing it was just a transaction going through you know as if I was sent as if I was just throwing money out through the screen into your pocket amazing yeah that is amazing hey by the way give us a thumbs up guy that for some reason we've got 15 thumbs down I don't know what offensive stuff we've said oh wow 50 thumbs down that's amazing what we've really done we've really offended some less amount extra paying so it's a look at it again to get deleted later if they're trolley thumbs yeah yeah actually as someone someone just said I've never used XRP actually I used ripple before they were even a really like around for the original ripple was like an IU circle when they first launched and then they and then they I got I got the first airdrop of ripple for I think it was a thousand ripple back then G had generous when they had like trillions of the things they you know this was back where there was no one knew really about Bitcoin Bitcoin was the tiniest community Jed Michaela have gone off and made I think that's his name ripple and and left mark oxen and yeah I mean I back then it was something else and they've pivoted so many times so I mean it's silly to say that I've never used it I I have tried it and I just think it's I just don't care if your pitch is I'm a new technology for banks to use in the back end in the back office I'm like I don't care what you're using the back office of a bank I care what people yeah I'm some little pleb in the mountains of Myanmar is a consent and buy an MP3 of someone sitting in China without anybody interfering that's what I care about I'm just glad we still have time for hype articles like this from the mainstream media where they can complain about everything I hope that they have it in themselves to write another article about how Bitcoin is or like tulips those are my favorites when they say that the tulip thing was hype and that the tulips went down to zero which isn't true you still have to pay money for tulips and when they compare this complex digital internet thing that just allowed you to send money right there through the screen to this plant that had some colors I just love that example I hope they do it again soon we'll keep an eye out for that I'm probably going to break the show here in a few minutes here we go moving on oh I really broke it now all right other screen moving on to the next issue head of the world's largest asset manager says that Bitcoin can possibly evolve into a global market asset it sounds like Bitcoin is already that thing but now someone at BlackRock is telling you that it's true appeal to authority Ben Ark now that the real money people are here can Bitcoin possibly evolve into a global market asset so possibly probably maybe likely could evolve into a Bitcoin into an asset market I mean the micro strategy guy put it best with that quote which I've already used a couple of times which is that there's an ocean of I can't remember the number but it's a hell of a lot it's trillions of assets out there in the world and then there's this little pond of Bitcoin which all that you know a little bit of that money just needs to flood into Bitcoin and suddenly it's market values just you know much greater than it is now so yeah of course yeah I mean it's there it's already an asset a global asset for lots of people so yeah it's yeah it's just it's fun it is fun watching like these people on board particularly because that guy you know I guarantee like a couple of years ago was saying oh no Bitcoin oh no it's all very risky I would go anywhere near it oh it's amazing actually I mean I even I do it you know I there's a while back where I wrote a letter to Janis Farah Fakas asked him to reevaluate Bitcoin because he was always you know when he looked at Bitcoin and criticized Bitcoin I thought out of his I have all of them you know like I have a lot of these sort of criticisms which has just come at least he had sort of some because he was the Greek finance minister during the economic crisis they had there and he thought about implementing blockchain technology to to be used at that particular time so now I seem to kind of reevaluate Bitcoin and see whether it now has any you know with all the you know innovations with side chains and lightning and liquid and whether whether you know he thinks any better of it now and he actually brought a letter back but the letter I mean it's kind of disappointing because I thought you know I respect the guy a lot and his criticisms were still valid if it were Bitcoin of you know 2012 but it's not Bitcoin of 2012 it's Bitcoin of 2020 and there's a hell of a lot you can do with this technology and it's funny how even the bad even you know people who understand the technology we still look to some of these outside influences and we're like well you know the appeal to authority like we hope that they will see Bitcoin in for what it is you know as a technology and they don't and this guy is just like oh no it might be an asset class it's like okay oh thanks you know thanks to checking his that phone yeah we just have to we just have to sit and wait for the rest to catch up and we're way ahead of the game we're just because we have some understanding of what's possible with Bitcoin it's a technology. Josh Gagala it quacks like a global asset class it must be one I tweeted at the other day I said oh it'll evolve well it I mean what it already is what are you talking about what I just shut up I think these people now I look he's obviously smart guys probably different toys it could evolve come on man come on man moving on to the last issue today here we go screen share top currency regulator says to expect clarity in the coming weeks on Bitcoin Brian Brooks the acting comptroller of the currency says new crypto regulations are on the way but nobody's going to ban Bitcoin. Brooks said that they're focused on getting it right they're focused on not killing this and it's equally important that we develop the networks behind Bitcoin and other cryptos and prevent money laundering and terrorist financing. Scoyne Bay CEO Brian Armstrong warned of the downsides of potential regulation last month it's December a new president will allegedly be sworn in on January 20th is this a good time to make clarity in crypto regulations Josh Gagala you know Australia brought in had this problem with these these little beetles that would hang on the sugar canes and they brought in from England these these toads that would eat these and they ended up calling them cantoes but the cantoes were there was an unseen problem that they started having they have all this poison on the back and started poisoning all of the marsupials the native the native animals and it caused massive problems till this day there's huge problems that these cantoes cause because some idiot in government thought they knew better and thought let's just get this and you know it was like this old lady that swallowed the fly she swallowed the flyer to you know then it floated they end up having to fix on fix on fix on fix and this is what happens with regular with silly regulations that from people that they don't understand the technology they put a regulation in and and then it's like they'll go oh there's something wrong with that let's let's fix that regulation then fix that and then they'll put another thing and you'll never get true clarity all you'll get is a huge giant wall which will be good for businesses like us who have gotten in early and we can be part of building that wall and then nicely isolate ourselves from any competition because any startup can't get in anymore because it's too expensive to to jump that wall and this is exactly what the banks have done in the past they've used regulators to basically build such massive banking regulation that nobody can ever start and compete and that's why you never had startups in the business the first time that actually the word FinTech was only really used once for a long long time during the internet and that was when PayPal came out really FinTech didn't make it made a recent nestles when the Bitcoin white paper was released that's when FinTech started becoming a thing because it was so out of the box thinking it was so like the regulations were so built on like protecting the banks from startups and they didn't realize that hang on the internet can also disrupt this and it can create something that's so far away from these regulations that they don't even it'll be unregulated and and basically this is all that will happen is that you will create more and more regulations and you'll stop competition you'll get entrenched oligarchs running huge conglomerates and and and basically just just playing silly buggers you know the best thing to do is for governments to stand out of the way to let the math regulate Bitcoin to let the mathematics of the protocol regulate Bitcoin and look if you're going to get criminals using this thing then go after the criminals do the good old fashion police work and go get them you don't ban shoes because criminals use them to run away you're bad you get the criminals you know another way it's it's so you know a clarity would be like hey we're not going to regulate this we're going you know we just don't want you to do illegal things with it that that would be nice fire and the banks would say oh cool yeah great let's play I don't know Ben Ark the guy in those shoes looks awful fast yeah I mean the the economic momentum will just shift to the countries which don't regulate so if they want all these countries you know what you would most historically have called third world countries which embrace Bitcoin because it gets around sanctions and capital control if they if they want to keep that edge as as world leading countries then they'll they'll have to try and unregulate as much as possible Bitcoin because it's borderless it doesn't care where it is you know it's they they they don't have control over it to be honest I'm surprised Bitcoin is done as well as it's done when it comes to regulation like it hasn't really been touched as hard as it could have been touched and once you know the US also has a command and said they're going to try and ban Bitcoin which I think our offers were expecting the some big country which would would ban Bitcoin and that just hasn't happened you know China's mentioned it a few times that they've actually avoided it because they realize it's completely not really impossible and actually by banning it you're you're proving it's worth and value even more by the fact that people can just continue to use it anyway but yeah this Brian Armstrong everything he says is just hot like the crypto stuff man it's you know there was a who said he used to accuse the guy who's on the the this on the Bitcoin group a couple of weeks ago Carl topy he came out with a great tweet which got a couple of thousand likes it's great and it was just that you know crypto is it's cryptography it's VPNs you know it's it's pro on mail it's Bitcoin etc etc etc it's it's not crypto as in crypto currency and for the CEO of Coinbase to be just coining that word to to mean you know cryptos is in crypto cryptocurrency is it's it's it's a disservice to all those geniuses like Hal Finney and Adam Bak who worked on cryptographic cryptography they fought the crypto wars the original crypto wars where they were literally fighting for the freedom to be able to send an encrypted message through the internet and look back at the crypto wars like Adam Bak used to print t-shirts with like cryptographic RSA stuff on so you know a code for you to be able to like encrypt a message and then send over a network he used to print out t-shirts and people sell t-shirts people people would wear those t-shirts and get on planes and then physically travel to another country to make mockery of these these laws because the law was that that cryptography was class as a munition so you could be charged as if you were like transporting a machine gun or something the fact that you're just transporting the ability to send a private message to somebody else through a network so when people use the word crypto for crypto currencies they're doing a massive disservice to all of these people who fought the fight for for cryptography and for public cryptogax you know public access to cryptography for all those years so yeah no Brian Armstrong is a fool it's amazing he's still worried and regulations just going to fall for Linus us and just prove even more that you know Bitcoin's justification you know if they're if they're trying to regulate it it means it's has some pride and at a time when cash is becoming more and more scarce like you can't conduct a transaction privately my streaming is on yeah fuck Brian Armstrong with a fucker sorry um hey so what would you call crypto currency in its short form then this has no short form is cryptocurrency and there's Bitcoin it's crypto currency and then this cryptography crypto crypto you can't co-opt and you know culturally appropriate this word crypto for cryptocurrency it's just not right particularly when a lot of those crypto coins are in fact just spreadsheets there's someone in our chat just mentioning you know there's that centralized spreadsheets they're like xRP yeah so yeah don't you don't use that word don't soil that word and regulations going to fall on its ass for Bitcoin it's just going to justify it's and that's what I was saying particularly at a time where more and more people are having to use electronic payments because of obviously the covid pandemic um uh and uh yeah we need in society it seems the ability to be able to send electronic payments in the real world but a lot of people want to do it in a way which is like retain some privacy and they're not exposing themselves every standard make a transaction um so Bitcoin is very valid and uh just don't regulate it please all right circling back to the question I do think it would be a big mistake for the lame duck administration to put in some kind of last minute December January regulation on something as big as Bitcoin and cryptocurrency uh we've talked about this several times in the past if you over regulate too quickly you could kill the industry and force people to go away from your country this already happened in a small example with New York state with the bit license they over-regulated and many companies found it simpler to just say block all IP addresses from New York we're just not going to deal with that and you don't want that to be the entire United States especially with the decision made by a lame duck president so I hope they don't do this but that's the exit question Josh Gagala will the United States produce draconian cryptocurrency regulation within the last two months of this administration yes or no no probably not oh come on be more fun Ben are yes or no what's that sorry will the United States well that's why I can't be typing will the United States uh you know implement this legislation this regulation against cryptocurrency in the last two months yes or no it's the death throws man the death throws of a falling empire who knows um uh Trump's office ad obviously um but um see oh I don't know who knows I don't know Ben's getting it the answer is yes of course they will it'll be more fun more exciting more newspaper headlines and maybe they'll even pardon the tiger king pardon the tiger king moving on to predictions or a story of the week Josh Gagala are you ready with a prediction or a story of the week yeah um we have uh we have some negative trading for example sorry that's my story of the week so that's fun to watch hopefully we get some people have earning money while they're trading as market makers um and uh story of the other story of the week is uh what does that what does that what does that mean for no asking for a friend like what does actually mean yeah so um when you you know the market maker is someone that makes a market is if you have a stall um and you have a stall of bananas and you say this banana I'm selling this banana for a dollar you're making the market and someone comes along in the market says yeah I'll take that banana for a dollar they're taking so yeah market makers and market takers and uh if the taker then says uh I'll give you uh 90 cents they're actually making the market now because they're determining the price um uh so that's the market maker and taker the thing is the the market makers add liquidity to a marketplace because they're they're they're setting a price they're putting in the order books so you want people to make the market a market takers are taking what orders away from the you know they're taking orders out of the order books so they're taking liquidity out so we thought well it's you know let's promote the market making by giving by charging the takers a small fee and giving it directly to the market makers uh instead of us taking it and uh and so now instead of paying a fee if you don't want to pay a fee while trading you can place an order in the order book and the author of order book and uh and uh if it gets taken then uh you actually earn the fee that um that the other person paid well that's interesting yeah so this is a time argument is that is an experiment or is that something you just think it's like that yeah no some people have implemented it before and I thought it was really interesting and uh I think it's going to take I think it's going to be industry standard after a while yeah Ben Ark prediction or story of the week uh story of the week is uh I've been battling with my um uh watch only wallet extension which I'm trying to make for Lambeats and um yeah it will be cool when it's finished uh it's uh using step-and-cycle of python library M-bit um which is absolutely phenomenal uh please do check out if you build an elephant in python which requires bitcoin stuff um and that will give Lambeats the ability for people to be able to put in an x pub and then well it would be kind of like a btp server affair you know you'll be able to like order a charge and then someone could pay in lightning or um they could pay you on chain as well um because we've seen some bigger transactions coming through L&Bits now so clearly that's wanted uh so yeah excited for that but it's also really hard because they suck at on chain stuff I'm over lightning person um um which I feel very guilty in saying but yeah um uh and then what else I mean there's zero two point what's that zero two one which is coming out that's great there's a phenomenal installation by cryptography which is going to happen which I can't talk too much about but really looking forward to that um and that's that's pretty much yeah that's pretty much what I think I can't I can't say anything about all I can say is it involves L&Bits and it's absolutely badass uh so get job. CryptoGraphyD on Twitter yeah to stay up to date with that or follow the world crypto network or follow me jasiegulla or follow us all follow just follow us please like us all we want friends you know we can go any friends so on that on that note I'm not having any friends look I'll literally pay you to be my friend look here's his more sats okay somebody grab this now 10K sats 10k sats 10k sats grab it let's like let's not that much money now it's like a couple of quid but you know in the future I will look back at this video and I will win in pain because that'll be like a thousand dollars or something ridiculous yeah yeah oh we got 39 likes and 15 downloads come on likes come on give us another let's try and reach 60 who are these downloads is this so mean ridiculous I mean but yeah next week I'm gonna I'm gonna figure out how we can start giving away uh more lightning money uh we do it in that I'm not gonna do it all the way in the way you're right this is the way to do it right but what I want to do is I want I really would love to get reward people for sharing the uh this show on Twitter and uh and and liking and subscribing and all that jazz and so uh we've got to figure that out how we can reward that we can make a we can make a bot which a bot which like um some sort of bot so if they if they sh if I don't know we could do we could we could we could check to see if they've shared it on Twitter and if they shared it on Twitter I don't know you can't DM see you can't DM with Twitter bots annoying um you could uh if they if they shared it and then put in the first lightning address like after they shared it as a second tweet we could then pay that lightning thing maybe let's think about that uh for the folks at home do it for free for us this week and next week let's see what we can do yeah just give us a thumbs up and a share subscribe down below and a prediction there will be many more mainstream media people coming along telling you what you should do with your bitcoin the only question you should ask them is where were you this whole time why didn't you believe in bitcoin earlier and what's changed now they probably don't have a very good answer thanks so much to everyone for joining us thumbs up and a share until next time