go. The Bitcoin group, the American original, for over the last 10 seconds, the sharpest Satoshi's, the best Bitcoin's, the hardest cryptocurrency talk. We'd like to welcome our panelists, Josh Gagalla from Voltoro. Oh, why a good evening. I didn't see you come in. Martin from General Bites. Merry Christmas, everyone. And I'm Thomas Hunt from the World Crypto Network. Moving on to issue one. Issue one, new Bitcoin all-time high. The price of Bitcoin just keeps going up, setting a new all-time high on Christmas Day with a brand new $24,600 price point. Josh Gagalla, is the price of Bitcoin crazy? Will it just keep going up? Yeah, it will. It'll just keep going up. In the beginning, it's all about the retail investors. Now, the big money is coming in because they're like, what the hell is going to happen to the banks? We've got all this liquidity sitting in banks, like Fools, when there could be hard money, either gold or Bitcoin or something, assets. And these companies are really scared. I've talked to a few high net worths who are actually scared of keeping any money in the banks. And so if we take that to the next conclusion, obviously governments will start to print and, well, they already are printing. They're not starting to, they're printing like crazy, but they will print and buy with that printed money. So the thing is, people are going, eventually people will have to switch their mindset from calculating in Fiat and calculating it in grams of gold because eventually it will make no sense calculating this thing in Fiat anymore because all you're doing is calculating the amount of money that they're printing. Martin from General Bites. The price will continue to go up. Bitcoin is also like, you know, the first world's, certainly the first number go up technology. So therefore, I think, the number will keep going up. It's gradually getting, printing so much money. I believe 20% of all the dollars in existence has been printed this year. A similar thing happening in Europe, where the European Central Bank keeps printing money. Now with Bitcoin, 21 million, that's it. So I believe we're at 18 million something right now. So I think it's time to get a few sets and start sticking. I think that's the truth there. You have to think about dollar cost averaging. Everyone's their eyes gets all big. I want to own a whole Bitcoin, no matter how much of Bitcoin costs, but really you'd be better off just putting in 10 bucks today, just putting in 100 bucks today. Something that you don't have to worry so much about losing. A lot of people see the big price. They want to put all their money in. It goes the wrong way. They get wrecked and now they don't know what to do. And they didn't even get that 10 bucks worth. They didn't even get that 100 bucks worth. So as much as I think it's, I don't like capitulating to the new era of stacking sets. I still think we should buy Bitcoin, both a literative, both great slogans. One of them a little sadder. It would be better if we could have all bought Bitcoin and especially to have been one of those early guys and get the hundreds and the thousands and the, I don't care about this Bitcoin. But that would have been fun. But unfortunately, I think we're going to be that for sets. We're going to people with the, you know, 10,000 sets and the millions of sets. So let's work on it that way. Let's try to build up a number and remember right now all the people that bought at the previous all-time high of 1914 in 2017, all the people who were wrecked, they bought at 19. They went all the way down to three. Now they're back at 20 again. So once again, everyone that's ever invested in Bitcoin that held long enough made money. That's that last part that's tricky. But good luck with that. Moving on to the exit question. The price of Bitcoin this time next week, I think it'll be almost new years. Josh Kagala higher or lower. You're muted, I think. It'll probably be correct back down a little bit. I feel. Oh, downward correction, Martin, do you agree? No, I don't think it will go down. I do think we're trading at a bit of a tight range now. So I think we'll within a week or so, we'll just add next week, this price next week. It will be between 23 and 24,000 dollars. That's my guess. But it's not investment advice. There you go. Exact numbers. Putting it on the line. I'm going to agree. The price always goes up. Bitcoin just goes up. We do have an update on people liking the video. Last week's video did get more than 150 likes. Thanks to everybody for liking the video. It started to cap out the previous videos around 143, 144 right now. So maybe six more people watch the new video. So if you watch this video and if you can hear us and see us and it seems like a good video, give us that thumbs up down below. And go ahead and subscribe. About 40% of the people watching this are not subscribed. So still a chance. Christmas miracle, our goal would be 200 likes. That's very difficult. Like almost everyone that watches this who's not a bot would have to like it. So if you're not a bot, please prove that you're not a bot by liking this. We also had one down thumb, which is 50% down from our normal two down thumbs. So we're doing good there. It's free as well. Ladies and gentlemen, also free. You can do the down thumb, the up thumb. We have many thumb operations available for you down below the video. So thanks to everybody for giving this video a thumbs up. Moving on to issue two XRP cryptocurrency crashes following the announcement of an SEC suit against ripple. Many people saw this coming, especially when the ripple company claimed to not create the XRP slash ripple token. It was very confusing for everyone that watched them create it, watched them print billions of it, watched them hold on to billions of it, and then watched them claim not to have made it at all. The price of ripple was down around 63% from its 30 day high of 76 cents, dragging down the rest of the altcoin market with it. The SEC has a simple point in their lawsuit. They say that ripple is a security. Martine is ripple a security. I think the SEC has a point SEC has a point there, even though they claim to be a cryptocurrency and that it has all these like applications where you can use it for in reality, you can't really use it for anything except for speculation. They also it's a pre-mind. It's not for me. Let's put it this way. I know people that bought some. For me, it's not really a cryptocurrency in the sense like Bitcoin is a cryptocurrency or Ethereum is. I'm curious to see what the future will hold for ripple or XRP or whatever they really want to be called because that's a bit of confusion. No, not for me. I just want my early test ripples back. I don't even guys remember but originally ripple had a hosted wallet. They had all kinds of these things you were going to be able to do with the currency and they gave me some. I held it there in my hosted wallet. I guess at some point they sent me an email saying they weren't going to do that anymore and they took all of my whatever ripples they were. So the one thing that I managed to hold on to early that I could have dumped on somebody they took from me. So no, since then, I'm not afraid of that ripple. I never understood the whole. We didn't make the currency that we're holding billions of in our reserve. I enjoyed the story a few weeks ago when they said if the currency votes are way or if the everyone in the community votes are way, we'll burn the reserves. I thought that was an exciting story but I wasn't too crazy about the ripple guy being one of the top 10 richest people in the world just for printing his own money. That never made sense to me. Also, seems unfair. They don't include Satoshi Nakamoto on those lists. Just seems unfair. Just saying. But Josh Kagala, your thoughts on ripple and it's 63% drop. You know, the thing is that what I always find funny is the SEC is there to protect investors and they know damn well that when they go right, this is security, the token's going to drop. So then trying to protect the people that have bought this ridiculous coin is actually hurting every single person that's bought this ridiculous coin. It's always fun and funny but it's another topic really. But the thing is with ripple is that it's been on the cards for a very, very long time. They're a big player in the game and the next they're going to come after some other central liars to ICO companies soon. There's some big big ICOs that happened and this is why we're seeing more and more people heading towards the Dow structure where it's more decentralized than a central company that's that somewhere, registered somewhere that the SEC can go after because America has very, very long tentacles and they grab the nuts of everybody that starts a business and sells to Americans. Now what people can try to do is set up a security, register a security and actually try to do it through their ridiculous methods. But the thing is when you do that you have to take full KYC, you have to check that they're an accredited investor and all this other jiggly pokery and everyone drops away. No one goes through with it. So you ICO becomes just dirt. You're much better and it costs about the same as an IPO nowadays to run an ICO with all the marketing and every restaurant. So you're much better just doing a full IPO but IPO investors or well to list an IPO you already have to go jump through a bunch of hoops or already be showing some sort of you can't be a pink slip dodgy company that hasn't got a product yet. So you know I think there is still a place for token offerings. Me personally I know that's a very unpopular opinion on this network and this channel but I actually like the concept of being up and selling to the people out there that believe in your idea. Of course there's going to be scammers and you're going to have to prove that you're not one of those. So the difference is that you actually want to build something or maybe the way of raising money becomes I feel it's already like that where the world has woken up they've become educated in the fact that they will not fund a nice year that hasn't got a product. They won't like back in the 2017 that you could throw any old crappy white paper out there and someone will throw money at you but nowadays we see people try and people won't do it. So there's certain things that will happen and this is typical of a new technology a new thing that's happening there's instantly scammers that come now our way and try to pull the wool over people's eyes but now the whole community has been educated like I don't want an ICO to instantly have all the money because what happens they've the founders become rich and they don't have the drive they don't have the hunger anymore. So you want a smart contract that can slowly release the money over time or maybe the people vote join the DAO they vote for releasing more funds for the company to feed off of. There's all these amazing things that can happen and I really hope that the community heads towards that because well I don't think they've got a choice because people like come or groups like the SEC will go after large ICOs that have made billions eos for instance made billions that are four billion dollar ICO this is more than than Intel makes over years and years and years I mean it's a ridiculous amount of money. So the SEC is definitely going to go after some of these huge ICOs so I think these dials are probably the way the future will go. It does seem almost like it's a wave like the wave rolled out and now it's rolling back. I'm also reminded of Conan O'Brien's great line from the episode of The Simpsons the Montereyle where he said a town with money is like a mule with a spinning wheel. You don't know how he got it and he don't know what it's for. Moving on to the exit question will Ripple survive the SEC lawsuit? Will Ripple still be here one year from now, Martin? I think Ripple might get you know hurts in the process but XRP the token will probably just continue to exist. I do think that because of the SEC filing now that the problems they have that there will be exchanges that might de-list the XRP trading so therefore the value of the token might probably drop even more because there will be fewer and fewer places to actually trade the token so I think that will most likely hurt the price. But that's not the question. The question was will it still exist? Yes I think it will still exist. Most of these tokens that failed they still exist they're still around and sometimes people are even trading in them. Yes. Dark times ahead but Ripple ripples on. Josh Gagala. Yeah I mean this is totally not investment advice at all but it's probably a good buy because they'll get a fine they'll pay it and the hordes of XRP lovers will just jump a little bit will just probably go back up. And I just like to talk at this point about Ripple the grateful dead song that sadly this cryptocurrency was named after. It's a really great wonderful grateful dead song off the album American Beauty you should check out Ripple. I don't have the quotes right with me but there's something about there is a fountain that was not made by men and they're talking about the fountain of youth and stuff it's a really good one. By the way I also had that the air drop from Ripple back in the day and also lost my Ripple to them. I emailed the Ripple time saying hey where's where's because they pivoted so many times they didn't know where the hell they were doing. What they were doing is a jet built this technology that was you know trying to solve what Bitcoin solved in a different way but it was always just paid out like every very very early conferences they were even there and everyone was like Ripple's a scam you know it's been it's been the scam for centuries I mean I you know I wouldn't I wouldn't call a scam I think they're just trying to be the technology for banks I it's just not my sort of thing like I frankly don't care what banks use in the backend I just want banks to go away. Josh this this this whole Ripple is the Bitcoin for banks thing I don't subscribe to because that's why that's the reason people buy this XRP token yeah but what they don't realize is that the XRP token is just you know that's token and if they would create a Ripple for banks that would not be the XRP token it would be you know XRC token or whatever you know they would just copy paste the whole thing and then Ripple Labs would be the one getting the money but none of the none of the XRP holders would benefit from this and this is what I think is misleading and because many people who bought Ripple they think that it is the XRP token or many people who bought XRP think that it will be the XRP token that will be used by banks as their technology thingy the big white horse coming in and saving the banking industry which it is not and by the way I also got my what was it 5 XRP or something or 50 or something but I immediately don't dump them for extra expensive Bitcoin at the time and from the looks of it if I hear your stories I was lucky because you know I lost I was sat later of course in some crazy act on an exchange but yeah exchange is immediately for Bitcoin so yeah did that with all the adrops by the way and Martina it's no fun if you tell everyone the story behind the scam it's easier if you just say Ripple is the Bitcoin for banks and then the marketing works and then they get more buyers and less sellers and the whole thing works I think it is especially funny to see the Bitcoin for banks being sued for being in illegal security to see this once top 10 richless guy to be in real trouble here because this could wipe out the coin but yeah sadly I agree with Josh this is like dose coin it's just gonna keep going on there's already lots of people who like it and want to support it and they're gonna keep it going somehow unless I don't know yeah actually before Ripple launched there was a website called Ripple.com and that was the one that they bought and it was a really good idea because it was basically you get a circle of friends and if I trust if I trust you Thomas and you know someone else in the community I could lend money to that person by because I've given you a hundred dollars credit so I could lend money to your friend because your friend trusts you and you trust him and I trust you and it was kind of this wacky thing as well which was the original concept of Ripple.com and then of course the XRP, Gemma Caleb bought that and turned it into it. And that sounds similar to the idea of community lending that they have in like Africa and other countries where the entire tribe will come together and maybe make a loan for one person in the tribe these systems I studied this a lot when I was trying to do Bitcoin loans at BTC, Gem and they work really well in the community where individual members of the community can punish or you know get at the people if they don't pay the loans the larger and larger it gets the more unpaid loans and then the other problem is just on this beautiful internet that we all love anything that you put up will be horribly savaged and attacked. So Justice Josh is describing how his hundred dollars would give me a social credit and so forth. I start imagining a botnet of a million Josh bots giving a million Tom bots social credit and suddenly I have all this social credit and I'm borrowing millions of dollars so it's very difficult to make these things come to life on the internet just transmitting them from the and the ideas are all good too. I mean they want their community to have lending and such but it's much more difficult than perhaps it seems at first and then it turns out what works with the loans what we didn't do at Gem is if you have an exchange and you don't let them take the money out of the casino. Yeah. I make them stay in the casino with the money and then you're not really giving someone alone you're just giving them gambling credits and it's kind of a different idea. Yeah. Yeah. What you're talking about is Tom Teens. I think that's it. Yeah. Yeah. Family loans and stuff. So just again before we go on I want to thank everybody for giving us a thumbs up. We have about 75 people watching us live. We have 46 people that reach down there and push that thumbs up but remember if you're not watching live if you're watching later on you can still push thumbs up. I still see it. We managed it took about a week but we fought our way to 150 likes last time so it's pretty cool if we could do that again. We actually got last views more likes. I don't know YouTube's not supposed to work that way but let's just keep liking the video anyway and then maybe someday the YouTube algorithm will shine down upon us and we'll have more viewers more people view to talk with in the chat all that kind of stuff. So it's a very special Christmas episode of the Bitcoin group obviously everyone noticed we're doing this on Christmas because everyone's kind of stuck at home. It's a Zoom Christmas we thought it's just as well we hang out with you guys our internet family and one of our friends here Joseph Pruitt on Twitter. I don't know him well. He's just kind of in my Twitter feeds and he makes comments and stuff and Joe's having a hard time this Christmas. He says if anyone wants to send him anything this year it would certainly help. He's struggling to get by he put up a little Facebook posts let's see where it's sorry I'm on the wrong browser let's see. There it goes. So he has a Facebook post he's in trouble he's about to lose his house. His mother died about six months ago and he's been having trouble getting it back together. He also has paperwork that he's working on for a veterans disability. So Joseph fought in one of the wars here and I just think we should support Joseph. So I've got this link on my Twitter. If you guys want to check it out we've raised $101 towards $465 so if you guys could support that and we'll go ahead and put this into the it's also on Twitter as well we've raised $133 in Bitcoin so if you guys could just go to Madbitt coins Twitter we have all the links on this and that would really help us out help Joseph out to the link in the chat. Yeah let's see I'll get the let's see well doing this live Josh yeah you know live you know covers all the the warts and such so everyone can see my screen but there you go. There's the tally coin link as a Facebook link he only needs $465 to kind of pay next month's rent to kind of keep him going try to save this house that his mother gave him again we don't we don't know this guy like we think this is legit the reason I think it's legit is because he only wants $465 I think that's fair if it was like $7000 I'd be like well we don't have a really hard time getting that but um hey I'll match whatever is raised by the end of the show up to 200 bucks. All right so if you donate to the Bitcoin address in the tally coin link uh Josh will match it and I remember tally coin just host your Bitcoin address anyone can start a fundraiser at tally co.in and they don't take any fees or any uh cut they don't control your Bitcoin at all so everyone just please help Joseph out we'll check in again with this at the end of the show um but thanks so much for your support and I hope you guys are having a good Christmas at home. Moving on to issue three massive hack exposes Bitcoin's greatest weakness of course the hack has nothing to do with actual Bitcoin because actual Bitcoin's just doing just fine the hack has to do with ledger ledger had their entire database of both email list and buyers of their hardware wallet leaked to the internet at first they were hacked and presumably blackmailed and so forth everyone kind of knew they were hacked but now you can just go to some web page search for anyone's name you can download the entire database of anyone that's ever bought a ledger hardware wallet including addresses email addresses and phone numbers so now if you bought a ledger they can come to your house Josh Gagala your thoughts on ledger's hack exposing Bitcoin's greatest weakness yeah I mean I don't I agree that the Bitcoin's greatest weakness is the wrench attack and it's but cash does the same the problem is this is why privacy this is why privacy coins this is why privacy in Bitcoin is important and these these idiots that say oh it's just for drug dealers is nonsense would you like to be on this list yeah ask yourself if you if you say if you've heard yourself say oh it's for drug dealers and pornographers privacy well would you like to be on this list and everyone know exactly how many Bitcoin you've got probably not right so it's not but I just want to say that most people that will abuse this list will be chicken shit scared of going to your house and and actually doing anything physical it's much much easier for them to send our emails threatening that they'll come to the house but they probably never will so if you do get a threatening email it's probably fake it's probably from India or something because these people will not most likely not come to your house the the thing is that what what they will do is send emails so there's a few things you have to really look out for in in emails and that is that the first thing is just don't click any links from companies because I can I can send Thomas I can send you a link right an email right now that will say support for at ledger.com or dot IO whatever that is it will say that exactly and and you will think it's coming from them so don't you know email protocol is a broken protocol it is it is really really bad there is so many crazy vulnerabilities in there we you can get emails all the time from friends and family and these hackers they will they will probably research victims so the the amount of research that people do will will lead to higher success rate so they'll be building funnels lead funnels all the rest of this stuff so they'll research you they'll find your sister's name your sister's dog's name whatever they'll email you and say hey Joe they I'm really whatever they'll find they'll have a look on your house on google images they'll see the house and it's all they'll find whatever like it's all out there right so this is why you know people talk about data being the news oil it's not it's not I mean it's almost it's the new CO2 stop leaking it everywhere stop telling people where you live what you are all this stuff just stop it if you have Bitcoin stop leaking your data because hackers will use this one day something like this happens it's not your fault you just bought a you just bought a bit of hardware off the internet but what you have now is a list where your name's on there so they will they they they can potentially really try to target you and make you click on a hi hey hey John check out this hilarious hope your dogs okay dog Bob you know they'll know everything and then I say check out this hilarious video of of Julie you know and you'll think oh Julie that's my sister's daughter you know and you go to click on it and it'll say I'll log into Google and you will like it's just Google okay I'll log in and and and then two factor okay two factor instantly they'll have a bot once they're in they've got that two factor they'll have a bot that goes to changes your email so your email will have a redirect instantly so that even if you realize oh gee that that I just let some hacker into my Gmail they'll instantly have a redirect so even if you change the password they can start going around the web doing a lost password reset they will send all those lost password reset will go to your email but they don't have access anymore it'll automatically get forwarded and they've got access to everything they just start just he freaking havoc on your life never ever use SMS two factor online ever SMS two factor and the SimSwap saga has destroyed friends of mine that they've taken Lin Obrich for instance the mother of Ross Obrich lost a bunch of money that people have kindly donated to help her son to help her when the her play for to release her son with a SimSwap luckily it didn't get taken because she managed to secure it but they got into a coin-based account and all sorts of stuff so SimsSwapping is ridiculous it's where a hacker will keep on calling your your telephone provider and go oh my kids cry I've lost my can you and if the telephone provider goes no sorry we can't boom they'll just ring again ring again because there's a thousand support staff and they just go through each one until they find the social hack that gets them to send the replacement sim and then they've got you so never use SMS's phone calls phone calls will probably the thing that you'll get just realize that that that's really scary and most people want to be nice over the phone because they don't they'd want to be nice you're talking to someone so just you know be really careful we're giving any information out about anything if you're getting an email from your brother or something ring them up that's the old school two factor ring them up and say hey are you emailing me about bank information that's really really important so going back to these these things and this is all stuff that's really the world needs to be educated on again because we've trusted the internet to a certain extent because yeah when when you have a leak or a hack and your email gets hacked it's you know whatever or you just change a few passwords but now that things like ledger you've got red digital assets on the line that are sitting in private keys and it's it's a new brave world and you have to be very very aware of all these attack vectors on you I just think it's sad it's sad that Josh has to describe all the security you have to do and it's sad that these people who were trying to do the right thing they were trying to protect their Bitcoin they were doing the thing that we always say and everyone says you if you don't own your own keys you don't own your own coins and I've got no side in the treasure ledger war I met the ledger guys in Miami they gave me one to try out it met the treasure guys they gave me one to try out I'm cool with whatever I just think everyone should protect their keys and it's sad to see that this kind of misconfiguration or this word press or this marketing guy whoever it was they had this big database of everybody's names they decided they made the wrong choice they decided to keep this database which is a natural thing when you're selling widgets you want to say hey maybe we could sell them another widget we could send them a flyer you know there's all kinds of value to this data they kept it it got exposed and it turned out that they weren't selling widgets but they were selling more like what president Obama called them a Swiss bank account in your pocket and even if you only have a hundred dollars or a thousand dollars the fact that you chose to store your thousand bucks in a Swiss bank account in your pocket probably excited some criminals so I don't know how bad this list is going to get I hope that it's just people sending nasty emails like Josh said but if Bitcoin keeps going up this list could keep going up so if you probably can't move it's difficult to move certainly change your email change your phone number and in the future and this is where it gets sad again we're going to have to teach people a whole leather level of op-sec if you want to order a Bitcoin hardware wallet to your house it's going to be kind of like the new the movie hackers we said you hack to bank across state lines from your house you can't do that and sadly we're all going to have to get peel boxes we're all going to have to go to mailboxes etc i've heard that people in europe have a problem where the peel box companies don't accept packages like in the united states so that's going to be an issue amazon locker i don't know we always tell people to order directly from treasurer and ledger because there's a problem where if you get a tainted hardware wallet they could steal your keys somehow right now there's an even bigger problem they could steal the address they could steal your home your privacy your freedom so another level to this thing it's kind of good Bitcoin could go up forever and it could make us you know popular and rich and all these things but it could make us too popular it could make us too rich and then your name could end up on one of these lists um our team your thoughts about ledger and the ham i feel really sorry for the people who fall victim for this hack and we tried you know maybe maybe there's a way we can help them or educate them because i think there are still people on that list on that don't know what's happened i partly blame the company ledger for it at first they were really downplaying the hack and saying no no no no no our wallet is safe but it's the social engineering that arises from this this hack that is really dangerous and i've heard stories of people that actually lost lost money because of this you know they are the inexperienced Bitcoiner they think they're doing the right thing they bought a hardware wallet and now they get this email telling them to reset their password because of whatever and then enter those seed words so i think it's you know partly ledger to blame here that yes they got hacked they shouldn't have been hacked because you know if you if you keep all your customer data online in this online database there's no reason for that their claim was yes we have to keep it because of legal requirements in France this is how we do things in France but in reality it's bullshit because they could have kept it offline or they could have kept it behind a two factor authentication i think they use wordpress or something and everybody knows wordpress is not secure everybody uses WooCommerce it's open source you can dig around find bugs and you know exploit them and this is this is just highlights the problem with the with this whole you know AML KYC craziness that's going on right now all the regulators they want to everybody to AML or KYC their clients so everyone needs to start you know collecting information about their cryptocurrency clients because hackers and because drug dealers and bad people all over the internet but in reality you know it's just it's just the computer geeks with their cat sitting in the attic developing new new protocols and and the risk we are taking is that we have we are collecting you know companies have to collect by law now in the Netherlands for example every little bit of information about a client while well it's you know even for small amounts and at one point these exchanges will get hacked i mean i only know from all the Bitcoin exchanges i only know a handful of exchanges that have not been hacked yet all the other ones take out hacked at one point and this is this you know this is shouldn't be such a big deal as long as you don't keep any coins on an exchange and as long as they don't have a lot of data on new but in reality we see that more and more governments are starting to regulate cryptocurrency because fatf travel rules and amld5 regulatory regulations you know all made up by politicians and you know that and central banks which consist of ex bankers and basically it's it's not not good what we're doing is it's it's it will be a big big problem for the industry there's this total information hunger of regulators and it will cause data leaks and it will cause problems for the end users and this i think you know we should fight against this we should fight against this massive data collection that is going on right now you know with Bitcoin we take back our money and become our own bank and we should also do that with information it's our information we should be in control and you know in ledger's part i think ledger could and should have done better by informing the clients immediately after this information was hacked they said only a small subset of our clients is affected well now it turns out to be like you know hundreds and hundreds of thousands of email addresses and and and ten to thousands of clients or more even it's it's just it's it's in this list it's scary this information that's out there and many of those people still don't know that their information is on this you know out there on the street and being actively abused you know myself i get i get phone calls from people pretending to be working for crypto currency company called Bitcoin and i said which Bitcoin company are you working for yes i work for 70 different companies i said well why are you calling me am i calling you on your personal line yes i'm calling you on your personal line said why are you calling me and eventually i just hang up i stopped being polite uh you know within a few hours they'll call me back with a different number it's it's just it's just bizarre and it's already happening and in my case this is not from a ledger hack it's from the block fire hack not very long ago block fire suffered a similar thing other AML KYC data all the wallet information you street address your identity everything was leaked and they also downplayed it they say no no no transactions were being no no no trend or sorry no bitcoins were stolen so they were downplaying it well actually in reality all our data is out there and this is this this we should just rise up against this uh but it's very difficult to convince politicians to do something we want so maybe we should all realize this and vote for parties and politicians that will actually help us in this instead of just just yeah there's also technological things we can do um i mean we really need to choose exchanges uh what what we're doing now um is uh going to be hashing any data that we have and if someone wants a reset i mean we we take KYC because and we've never been hacked since 2015 goodness but what we do is we we've the first thing to do is make sure it's fully encrypted and double salted like it it's like heavy heavy encryption because i think what ledger did is they take their ledger security very seriously i mean they're dealing in uh in private keys right so it's very very important but what they they just didn't take the clients names very seriously i mean this is ridiculously bad and i i it's unforgivable it's really unforgivable as a company i like the ledger guys but that's unforgivable um uh you um you you you need to what we're looking at now is to hash all that data not keep it and compare the hash if if we need a password reset or a or a two-factor reset or something like that we ask them to reset the same data in um and uh and then compare those hashes instead of comparing the actual data so this is simple stuff and um until we can get the politicians to say hey look this this whole KYC nonsense is so awful because once someone's identity is out there KYC is useless because anybody can KYC is as as as anyone now i'll just go online and i find all the details and KYC myself as someone else it's a stupid system that uh especially start you can start getting deep fakes where all i need is a couple of photos and i can get uh you know some some random person who have got all details actually talking to video some some idiot that's you know a half-wit um uh on the other line um you know doing what they what they do during their studies i don't know as a part-time job to KYC people uh look the whole KYC thing needs to change we need to start working with avatars this is what the cypherpang to be talking about for ages you need to separate the flesh and blood Josh the flesh and blood Thomas the flesh and blood Martin from themselves and to an avatar that you can turn off and say hey this avatar was stolen boom off gone i'll generate a new one yeah that new ones annoying because i need to then start to uh get reputation for this this this this character this avatar needs to sell things online for a lot cheaper because it's got no reputation anymore but uh this is how it goes the the biggest thing against all of this is always the same card it's the the trump card of the the big politicians uh is always uh child porn and uh and terrorism and all this bad stuff so if you're for uh not having KYC then obviously you're a money law under child porn of uh uh terrorists and and this is this is typical typical typical of all power structures so they pull these cards out and it's very hard to fight against but it'll take you know right now it's only affecting a small sub subsection of a small small niche and that's crypto ledger uh purchases but eventually if everything goes in the right direction which it will it's got no chance of not doing so crypto will become massively massively mainstream eventually this will be gets so big of a problem that uh that the avatar system will be the only system that can work because eventually everybody's data's leaked the the the fake will be so strong that uh that it just having KYC like it is nowadays is just useless avatars would be an interesting possibility one of the things they talked about in meal steffensins book fall is that uh multiple people could use the same avatar and then develop a reputation under that avatar as a shared person uh you wouldn't know if you're meeting with the author of the book or the three authors of the book or five authors you would just know you're meeting with the avatar that produced the work uh that you're purchasing the work that you're interested in bit like Satoshi like Satoshi going back to uh what martin was saying I do think that we're kind of entering into a period of mass hysteria it seems a lot like what they did with logs in computer science you had this server and it was logging everything that went on the server and at first that was great and everyone was keeping 10 20 years of logs you had everything that ever happened and then that became a legal nightmare and exposed people's privacy and we said maybe we should keep less logs then the government came in and said you should keep all the logs until we had to learn from this so it seems like the same thing with this data uh they're going to keep requiring it more of more and more of it to be kept until like Josh said so much of it will leak then it'll be easier to go get fake details from an xkyc database to qualify to a new one then to bother putting in your own information moving on to the exit question martin will the government do this will they have no choice but to require this kkyc data creating the perfect honey pot of hackers dreams um I think it was last week where we talked about the solar winds heck it's uh kind of ironic that like government requires us to keep this information safe while they are unable to keep their own information safe so yes I'm afraid they will require all this data to be kept but at the same time they are unable to even organize their own it system so I'm I'm I'm feared of future in that respect Josh Cagala yeah um same too easy yes of course they will require the kkyc data they're already very excited about it they want to match it up with the tax rolls and be able to say you took this out here you need to pay for it there uh the best way to do that is to make sure you have all the data we have an update on our fundraiser from joseph someone maybe one of you guys maybe somebody else has donated on facebook we're up to 201 dollars towards our goal of four hundred and sixty five dollars um maybe we could even raise 200 on facebook 200 on the bitcoin uh that would work out pretty good uh so if you guys haven't heard we're trying to raise money for our friend Joseph here uh from twitter uh we don't know him but he's in trouble he might lose his house his mother's passed away and it's Christmas so it's only four hundred sixty five dollars it's not like it's seven grand or something crazy so let's let's try to help Joseph out here uh we're up to 133 dollars raised on the bitcoin side uh 200 dollars raised on the facebook side so we're around three hundred and thirty three dollars towards our goal of four hundred and sixty five and i'll match up to two hundred bucks so let's do it let's do it folks let's do it Josh will match maybe we can even have a little savings get him going for the next month especially the way uh bitcoin's been going now let's move on to issue four bitcoin bubble merrile robini's back and he says that bitcoin and other cryptocurrencies which he's dubbed shitcoins have no place in retail or institutional investor portfolios robini a professor of economics at NYU's Stern School of Business slammed bitcoin even as it hit recent highs and was trading above 23,300 dollars he says first of all calling it a currency it's not a currency it's a unit of account it's not a means of payment it's not a stable store of value secondly it's not even an asset according to robini bitcoin has no intrinsic value he pointed out that assets bond stocks real estate or precious metals either provide income capital gains or some form of utility robini says bitcoin's hyperbolic bubble is going to go burst martin your thoughts on neural robini yeah i've got two words for it it's like okay boomer that uh no this this this is like see he this is like an angry troll at every once in a while they ask him for his opinion on bitcoin while he's not an authority on bitcoin he might know something about like old world money but he's like he doesn't understand bitcoin he is just renting against bitcoin and now he's heard the word shit corny thinks it applies to bitcoin too so now okay boomer whatever is like the dinosaur of money i think we should have paid even payment given the the attention you know it's like weird no no opinion never heard of the man just some like troll he is obviously very famous in in in in in economy or economics but uh no it's he's got nothing to do with bitcoin and for him if he doesn't buy bitcoin that's great because there will be more for us yes it's been a very interesting story interesting to see him go up and down josh kugala your thoughts the thing is like calling him a retarded monkey is kind of offensive to retarded monkeys so you know i don't want to do that but i think these these people i mean i've been i've been battling these types of people forever forever uh years and years and years now and it just it just astounds me that someone with uh obviously very learned uh opinions uh doesn't understand the absolute basics of scarcity uh you know especially in economics like how how can you how can you be so dumb yet uh get through everything i don't know how i know how because the current schooling system basically teaches you to repeat extremely well see if you can repeat what your professor says then you'll get a really good honors certificate uh a doctorate and uh and because i look at well he repeated or she repeated fantastic uh they really don't teach you how to think uh how to actually reason anymore it's basically like uh when they trump these people out i thought it was a trump twice today they pull these people out they uh uh really all they're doing is pulling out people that know how to repeat well when they say oh look he's a professor in someone so look most most look there are some really fantastic professors but generally the schooling system really just teaches repeating so uh if you cannot logically put things together like for instance Peter Schiff I uh Peter Schiffty i like to call him you know the the guy is a very smart guy i've i've i've appreciated Peter's uh work for a very long time and his father's work to uh rest in peace but the thing is that he is using this whole thing as a marketing thing like that that's his market he's a very good marketer and he knows that this is the best marketing he's had for years so every time he mentions something negative about bitcoin it gets uh it gets huge amounts of likes and and hate and chat and chitter and and uh and uh whatever else so uh in fact you know now he's like he's getting his son to play the it's a wrestling game he's getting his son to say oh my son bought bought bitcoin against my wishes and everyone's like uh Peter and and they all play with it and it's ridiculous now i think this this idiot is probably doing the same thing uh is using this as a marketing stunt now all the bitcoin is like us are talking about him and his name's getting bigger so this it's just i was just so over it like if you can't figure out the the difference between supply demand and scarcity even though you've got a doctorate in economic theory that just just go off into the forest mate just stop it get off of social media i think he's more like an attention whore yeah well i for one and we still hear i was worried that we wouldn't have these kind of critics when the price of bitcoin was pushing twenty five thousand dollars when it had broken through fifteen and seventeen for the second time i figured that everyone would just give up and flip over the other side start supporting bitcoin i'm glad these critics are still here i still hope they keep playing the classics i'd like to hear a little bit more of bitcoins going to zero that's a nice one i like all your coins are two lips that's an oldie i haven't heard enough of there's an infinite amount of cash in the federal reserve that's always good for a laugh so yeah big ones only for criminals the internet's only for pornography everyone knows this is true they all know inherently even as bitcoins going up and all these people are making money this guy wishes he had his sons portfolio so more of these critics keeps the media happy keeps the headlines going and remember for everyone that you know that supports bitcoin there's someone else on the other side that doesn't support it and these articles make them feel good even as they're wondering why they didn't even put a hundred bucks or ten bucks into this thing that used to be hundreds and now costs thousands so pretty wild times it's been fun we'll have to see who the next bitcoin hater is we also have an update on a bitcoin hater mark cuban famously owns the Dallas maverick's basketball team made a lot of money selling broadcast dot com to yahu broadcast dot com one incredible property that was a lot of pirated college basketball games sold to yahu for billions cuban cash is out at the top he's been making fun of bitcoin for years but now the Dallas mavericks are begging you to spend bitcoin at their gift shop and for tickets they accept it for both just goes to the show even if you're mark cuban and you have this shark tank show and all this stuff and you're making fun of bitcoin for years eventually you give in you got to accept bitcoin i don't think he likes it but they'll take it for tickets just like a robini said it's not a purchase you can't use it to buy anything it's not like you could just go to the Dallas mavericks game and buy a ticket with bitcoin oh wait you can anyway moving on check out world check out shop.worldcryptone network dot com where you can get the world crypto network dual logo mug the treasures don't fall t-shirt and the bitcoin dot bombs bitcoin have an addition and world crypto network the shirt check it out at shop.worldcryptone network dot com and i hope that everyone is still ready to donate maybe you're out there you're gonna wait till someone else donates well now's the time if you guys donate we could break through we could have an appearance above santa satoshi he could come on the show there's still a chance let's see josh has got the fundraiser up there fundraiser let's see we're up to uh $133 in bitcoin and around $200 on the facebook so we're still at $333 towards our goal of 465 so if you guys donate now to the bitcoin qr code on your screen you could help our friend joseph from the internet be able to afford his house his mother died six months ago and he's been trying to pull things back together so let's have a miracle for joseph we can do this all read it it's very easy to call everything a scam you know that you see it because then it's like and you know this is a scam some scammer wants money but some people really are having a hard time at the moment and you know we're seeing all time highs it's important you know i'm not a i'm not a religious guy but i think that the concept of tibing is really important as a as a volunteerist i'm one of those crazy anarcho-capulists that believe in in actual donations in helping each other and uh and so yeah but you know let let's uh let's uh let's show you what we can do as a community all right let's do it and uh so starting there we go we're back again sorry the jitzi one hour limit uh just wanted to celebrate some people in bitcoin that maybe we don't hear from anymore we don't talk to we haven't heard from it a while uh this is my friend Jason king uh he set up a program called shan's outpost where he raised bitcoin uh for homeless people to give them a place to live uh so it was very cool uh i got to see Jason in uh germany there were at s in germany at the blockchain hotel convention in 2017 so it's really neat to see Jason there and i just found the old picture and i thought it'd be fun to share some old pictures i also found this one of drew phillips and dovey barker of bitcoin not bombs and these are the guys that made the orange shirts uh that used to see it all the early conventions and you still see it some of the new ones so this was them at dogecon in san francisco in 2014 so i just thought it would be fun uh to share some old pictures uh probably put in some of the world crypto network people into here soon and just trying to keep this up and uh just remembering our friends uh here on christmas uh we have a quite reached our goal yet so we can't we can't have the christmas poem yet uh but we do have a chance right now for a very special interview uh we got to get your questions ready and we could take questions from the chat if there's time uh but we have a very special gift i was given today this is the uh the john old trump magic eight ball uh let's make you great again and uh we can answer any question that you might want to ask donald trump uh we're still waiting if you guys want to give us a thumbs up down below uh we have 72 likes we're halfway turrets our goal of 150 uh so we're doing good uh give us a like it's free and now uh Josh are you ready with a question for the presidential magic eight ball Josh is muted my teens muted oh there we go um yeah uh uh uh uh we'll uh we'll we'll you get a say another chance at what house will the president run again in 2024 says everything is luck profound martina question for the president did you really have sex with a porn star without using a golden did you really have sex with a porn star it's guaranteed so they're hitting your first the well crypto network incredible new uh tool here the the trumpie magic eight ball uh let's see let's ask him some more world questions did you think it was a good idea for the british to exit the the EU you're beautiful that that kind of works for everything yeah let's see they got a chat in the in the in the chat it says will the price of bitcoin hit 30 thousand dollars before 2021 here we go let's see it'll be a disaster so i could go either way it could be a disaster for the normal people could be good for the bit corners so i think he's saying yes i think that's a yes oh let's say they say uh don't support scammers don't invest let's see should you support scammers see he says i'm awesome right yeah that that's pretty telling that was pretty tell that was kind of like a Freudian slip there ball you got to be watching out for that um martina have one more question before we go will you regulate non-costodial wallets before you leave the office all right we regulate non-costodial wallets how stupid are you so again that could be a yes that could be like of course i'm going to do it or he just could be commenting on your education it's tough to tell he's a he's a mean ball he's not a nice ball but there it is i just thought that'd be fun uh magic bitcoin trumpie ball also this is old this was from like i think four years ago but there's trump the troll i don't know that's fun so my brother got me this stuff in Christmas so there we go stalling times over we're gonna check the fundraiser one more time see if we've hit our goal and if we've earned a poem and a visit from santa satoji oh let's see right here we check on facebook doing the old refresh it's a lot of drama here a lot of pressure you know let's see if anyone donated facebook says refreshing oh still two oh one so there's still a chance to donate on facebook so i'm gonna chuck you on a box and then help the guy out let's go oh refreshing the tally kind of still at one thirty three so if you're watching uh on the playback later there's still a chance to donate uh we would like to hit our goal of four hundred and sixty five dollars it's not that much and that will help joseph uh be able to pay his rent and survive this month uh you can read a story here he's just having a hard time he was a veteran and his mother passed away about six months ago so he's having a hard time uh with the house so check out uh the links are on my twitter at mad bitcoins twitter we also cut and paste them into the chat uh but and we had these fun stuff at the end but i think you guys earned it anyway it's been a long year so we're gonna go ahead and give you guys the poem anyway look here it is oh santa i put my sand and hat on i my mad bitcoins stuff at home so this isn't quite as fun but there it is got my hacker santa hat and we're gonna go ahead and read you guys the poem let's see we'll do this split screen here so here we go let's see this is called a visit from saint satoshi by climate clerk bitcoin but nobody really calls it that most people refer to it by its first line was the night before bitcoin Christmas when all through the house not a bitcoin was stirring not even a computer mouse the wallets were hung by the chimney with care in hopes that satoshi nakamoto would soon be there the children were nestled all snug in their beds while visions of altcoins danced in their heads and mama in her kerchief and eye in my cap had just settled our brains for a long winter's nap when out on the net there are rows such a clatter ice-praying from my bed to see what was the matter away to the laptop i flew like a flash tore open the shutters and brought up the dash the moon on the breast of the new fall and snow gave a luster of midday to objects below when what to my wondering eyes did appear but a miniature slay in eight tiny bit deer with a little old driver so lively and quick like a damn tomacochi i knew in a moment he must be satoshi more rapid than like coins his coarsers they came and he whistled and shouted and called them by name now bitcoin now like coin now feather and piercoin on terra on name coin on prime coin and franko to the top of the charts to the top of the wall now dash away dash away dash away all as leaves before the wild hurricane fly when they meet with a cell wall they mount to the sky so up to the house top the coarsers they flew with a slay full of bitcoins and satoshi too and then in a twinkling i heard on the roof the prancing and pawing of each little hoof as i drew in my head and was turning around down the chimney satoshi came with a bound he was dressed all in fur from his head to his foot and his clothes were all tarnished with hatches and loot a bundle of bitcoins he'd flung on his back and he looked like a pedler just opening his pack his eyes how they twinkled his dimples how merry his cheeks were like roses his nose like a cherry a drool little mouth was drawn up like a bow and the beard on his chin was as white as the snow the stump of a pipe he held tight in his teeth and the smoke it encircled his head like a bee he had a broad face and a little round belly that shook when he laughed like a bowl full of jelly he was chubby and plump a right jolly old elf and i laughed when i saw him in spite of myself a wink of his eye and a twist of his head soon gave me to know i had nothing to dread he spoke not a word but went straight to his work and filled all the wallets then he turned with a jerk and laying his finger aside of his nose and giving a nod up the chimney he rose he sprang to his sleigh to his team gave a whistle and away they all flew like the down of a thistle but i heard him exclaim as he drove out of sight happy bitcoin christmas to all and to all a good night there we go for the lift happy bitcoin christmas to everyone until next time bye bye i'll let down go