The Bitcoin Group, the American original. For over the last 10 seconds, the sharpest Satoshi's, the best bitcoins, the hardest cryptocurrency talk. We'd like to welcome our panelists, Martin from General Bites. Happy New Year, guys. Josh Gagalla from Voltoro. Yeah, Happy New Year, 2021, I. And I'm Thomas Hunt from the world crypto network, moving on to issue one, issue one, Michael Sailor. What's going on? Why won't it change the screens? It's Jesus. Firefox. Oh, well, Michael Sailor, according to the new Republic magazine, is being called the accused fraudster behind the Bitcoin boom. Micro strategy CEO Michael Sailor has invested billions in Bitcoin. Can we trust him or the cryptocurrency skyrocketing value? Martin, I ask you, has Michael Sailor put too much money in Bitcoin? Is he talking about Bitcoin or is he talking about his money? You're muted. I think Michael has still too much, too much money invested in dollars at this time. He's just trying to basically protect his assets. So he's making a conservative bet in dollars to keep a little bit in dollars, but I don't think he nearly has enough Bitcoin. Josh Gagalla. I mean, yeah, Michael Sailor, I don't know, he's one of these new school evangelists. Yeah, I don't know. I mean, yeah, someone that's going to pump $1.5 billion into something, it's going to like chill it like crazy. So yeah. I just think it's funny to hear him say all the things that we said in 2013, but now everyone's listening to him because he's important. Whereas if you look at his Twitter account from 2013, he specifically said that Bitcoin was no good. He's had a complete 180. And it's just interesting to see how people react to his news versus our news, which they never gave a shit about. Yeah, totally. It's all the same tweets that, you know, this sort of, uh, Andreas Antonopoulos style, a lot of enthusiastic, uh, wise words that are well orchestrated. And you think, yeah, yeah. And then you hear, man, it's just some, some Wall Street dick. But isn't this the case with everybody who just gets into Bitcoin? People are just extremely excited, you know, they discovered Bitcoin. They see the power of Bitcoin once they discover it. And then, you know, you just can't stop talking about it. You want to keep talking about it. Even if people, if you know people don't want to hear it, you keep talking about it. And somebody like Michael Sailor, especially if you like, if that's one enough billion dollars, Josh, yeah, then, okay, then, you know, then, then it will be like CNBC and all the big channels will be all over you. So, yeah, I can understand it. I can understand. Well, and I do think that's the issue with Michael Sailor is that, uh, people are worried that he's only talking about Bitcoin because he's invested in it, not because he's invested in it, right? We're at the point now where by putting a billion dollars in, certainly he's the largest hardware we know of. But, you know, on the values, on the archetypes, on the software, on all the things that we believe in, is he with us or is he just with us? Well, he doesn't like Bitcoin cash apparently, according to the chat. So, maybe he's more with Bitcoin, he understands later too. Yeah, let's see. I mean, he doesn't like Ethereum either because he doesn't want to care about smart contracts and oracles and decentralized platforms. He just wants hard money and Bitcoin is hard money. And there's a cap of 21 million. And you haven't got that with Ethereum and Bitcoin cash. Well, yeah, okay, it's nice, but nobody uses it. So it's not nice as a hard money. So I think this is why he's all in Bitcoin, he gets it. So yeah, I think he's invested more than just the money. Well, actually, someone brought up a good point, Rolando Tech said in the chat, wait till crypto winter. And that's where you really see the strong hands. That's where you see the passion for the technology, rather than the Lambo moons. And I'll believe him when he wears an orange shirt. That's the thing that will convince me. Moving on to the exit question, does Michael sailor believe in Bitcoin or does he believe in his investment, Martin? I think at first he believes in his investment, but once he gets to learn more about Bitcoin, he obviously, you know, studied it before investing all this money, he will appreciate and be invested into Bitcoin. Yes. He's sort of rabbit hole. Once you go down to the Satoshi rabbit hole, you'll never go back. Josh Gagala. Yeah, I think he does believe in Bitcoin. I think he's pretty genuine about it for sure. From what I've read, his big, you know, and heard from him speak. He's just sadly a bit late to the game. I guess some people need it to be ridiculously high before they pile a bucket load of their investors' money into something. That is what's so funny about it now, Josh, if he's a genius now for investing in Bitcoin so late, what would he have been if he invested in 2013? I mean, he said it's still early. Well, and it's just like Ferris Bueller said, I don't believe in Beatles. I just believe in me. Moving on to issue two, select screen. You get a 50-50 shot. Oh, it's this one. issue two Wall Street revives dream of Bitcoin ETF. Yes, it's time to talk about the Bitcoin ETF once again. Normal people on the stock market could invest their money in Bitcoin or they could just wait around forever for a Bitcoin ETF so they could buy it with shares using their Bloomberg terminals, causing a whole new raft of Bitcoin to be invested in by. Innocent people on the stock market. It could lead to exciting opportunities in holding other people's coins. Always fun to see. Josh Gagallar, we talk about it every year. It's time for our annual discussion of the Bitcoin ETF. Yeah, I mean, the thing about the SEC and the entire game that they play, I feel like they're sort of the inside scammers now because they know how much they move the market. You can see, for whatever you think of Ripple, you can see the massive effect that the single word from the SEC does just drives retail investors to absolutely get decimated. I think they played the same game. China played the same game earlier on too with the whole, we're banning the central bank of China, just constantly banning Bitcoin and then unbanging it and then banning it. And meanwhile, this just stack and sats the whole way up. You can guarantee that. I feel that there's people at the SEC doing the same thing. In terms of the ETF, yeah, it's always one of these things. Do we really care about, apart from, yeah, it drives the price up, but does drive it naturally? I would rather see the price slowly naturally go up with retailers, actual people using rather than these strange instruments because the ETFs, you also don't know how back they are. There are some really clever auditing things that you can do that we at Valtaro do it with the Glassbox protocol where you can actually show cold wallets and show addresses and let the public audit the ETF that could happen. So I would like to see an ETF that's truly transparent like that. That would be really, really cool. But I doubt it's going to happen because they have to shift so much. And I guess that the one that they're going to pass through the ETF through the SEC won't be back. It'll be, it'll be always cash settled. So I think that'll be a shame. It's typical what's happening with this futures. I haven't read about the specific proposal, but my guess is that it'll be cash settled because it's just, it's just too hard to buy that much bulk and sell that much bulk constantly. The market's not liquid enough yet. Well, in my line of business, it's important to be hip. So I want to turn around and be against the Bitcoin ETF before anyone else can be. I think it's been too long. The normal people aren't going to invest. They're not going to find a floor. They're not going to make any money. It'll cause the market to go down the smart sellers. We'll short the thing. And more importantly, I think that it puts too large of a honey pot in hackers sites. The Bitcoin ETF would have to buy so much Bitcoin and hold so much Bitcoin that maybe somebody on the inside with a name like the plague will end up stealing all the Bitcoin. So I'm worried about the Bitcoin ETF. I want to go negative on it. I'm taking the lead. Martin, your thoughts. I'm a bit positive about it. I think for securing the funds, there is a proper way. I think you can link multiple hardware wallets together to form, I believe, a caravan, what they call it. So for security, there are several options. I wouldn't would never, ever invest in such a vehicle myself. I'd rather keep my private keys. I think not your private keys, not your coins. It's still valid in 2021. So I'm just a bit old school maybe. But I guess that for a lot of people, they just look on their phone and they look at their bank app and they search for Bitcoin and they just see nothing. They just see all those companies. People are still pouring money into Hertz. So then a company that's practically dead. So then why not just select something like a Bitcoin ETF and pour your money in there. If that's what they want, it will just get more exposure. Not sure what it will do for the price, but I'd rather keep my private keys myself. For Bitcoin in general, I think it's good. It just shows market maturity. I think this is a bit of recognition after 10 years of working art. Get Bitcoin recognized. I don't know. What's your Europe? I think they need more than just a caravan. It might need a whole caravan. Sorry. But Josh, what do you think exit question? Will the Bitcoin ETF be good for Bitcoin? Yes or no? Oh, man. No, I don't like ETFs generally. Josh says no, Martin, tiebreaker. I think it's good. I think it's good. It gives more exposure and it will probably get more people. Just man on the street buying in via PayPal or just I wouldn't purchase anything ETF myself. No. So. And while I think it's fun and trendy to speak out against the ETF and to warn people about the honey pot and to even say they might be using fractional reserve Bitcoin. And there'll be articles about that and so on and so forth. The Bitcoin ETF is good for Bitcoin. It's always good for Bitcoin. It's a giant inflow of new money. Mostly all the people's retirement accounts and other people who are risk averse. They didn't want to buy Bitcoin when it was cheap, but they're going to love buying it when it's expensive with their retirement accounts for reasons that I can't explain. Back to the screen share. Did you know the world crypto network has its own shop at shop.worldcryptonenetwork.com? You can get world crypto network. The mug. The users don't float the t-shirt. The Bitcoin not bombs 2020 Bitcoin having special edition and world crypto network. The shirt all that shop dot world crypto network dot com. I was like to thank everyone in the chat for giving us a thumbs up and a share. We haven't been looking at that this episode. We've been talking, but we'll start focusing on it again. So thumbs up and subscribe if you'd like. We're about 60 40 people who subscribe. So join the 60% subscribe to the world crypto network. Moving on to issue 3. Bitcoin price faces the last roadblock of love before 30 thousand dollars. The price of Bitcoin has achieved yet another new all time high, but is struggling to break past 30 thousand dollars. It's jumped from around 9000 to 30 thousand. Will it end? Where is the top of Bitcoin? Josh Kagala. I love how they're like can't break out of 30. Like it was barely 20 like a week ago guys. Would you give it a second? I mean what? What other investment goes up so much and they're like bitching and moaning about it not going past like just let it chill. I'd be really happy if it just chilled for a little bit at 29 moved sideways for like a month. I'll be stoked because then you know a new floor cool it's not going to like because otherwise if it just keeps going bomb bomb bomb thousands a day you're going to basically see a map. You're not going to know when it's going to crash and it's going to crash and you take the stairs up and the elevator down. And if it goes that fast up if you're taking the stairs that fast up you can imagine how fast down it goes and then you're screwed for like two three years four years next time. Each bear market gets longer and each hype cycle gets higher. So you just let's just hope that it just chills for a minute would you? One of the best pieces of advice that I often hear and always ignore is that if it looks like something you wouldn't ski down it might be a good time to sell. Martin your thoughts on the amazing price of Bitcoin. I think it was last year where we last week when you asked us what would we think the price will do next week and I thought we would be going sideways I believe between 23 and 24,000 and we had like 29,000 now. So I'd rather see it go a bit sideways. Stairs up elevator down is very applicable here. So we don't want to see it go up like crazy. Just give it some time it will eventually break through the 30,000. Yeah, I wouldn't even mind a little bit of a pullback that will be healthy I guess because you usually see when it goes sideways for a while all these shit coins start pumping and that really is not good for the market. So either up or just a little bit of a correction and then gradually go up again. That's what I prefer to see. But then you know I haven't got a half a one and a half billion dollars invested. So I have no muscle in this market. So just I'm just standing by and watching the show. If wishes were fishes we'd all live in the sea. Is that right? Yes, it's no longer our Bitcoin. It now belongs to the the billionaires. Josh Gagalla forced prediction with it all on the line up against the ball. Will the price of Bitcoin be higher or lower? I think we will see a correction one. It's that round number. It's that 30,000 people will sell off. Martin, do you agree? It will go sideways. I mean a correction correction maybe a little bit, but I don't see a big drop at any time soon. There's just too much institutional money in it right now. Let's let's have the magic eight ball the predictor of predictors. Will the price be higher next week? Says it is decidedly so it is decidedly so the price of Bitcoin cannot be stopped. See, oh it says screen share doesn't work at all anymore. We have a group by the way of the Vultaro VIP alerts on telegram. You can get there with t.me slash Vultaro VIP. There we had a bit of a poll whether there's going to be a huge BTC correction. 22% said yes a small BTC correction said 22% said that. 33% said that they're just cross averaging out because we're getting a lot of action people buying gold. Plus on that happened it was 2017 December. So because our gold people are pretty good at understanding macroeconomic theory a little bit better than the moon boys in crypto. So that's why I put that poll out just to see if this is another massive dump or if we're just people are just cross averaging. We'll have to see moving on to issue four. Russell O Kong to be the first NFL player paid in Bitcoin $6.5 million around 50% of his salary for the Carolina Panthers will be deposited in his Bitcoin account. He's the first major sports player to be paid in Bitcoin. He's a fan of Bitcoin experience appearing at several Bitcoin conferences and very active on Twitter. He was recently reading a creature from Jackal Island seems on his way to becoming a monetary libertarian of some type. Will this be a major deal for Bitcoin? Martin your thoughts. I read somewhere else that this that he is not paid in Bitcoin. So I'm not sure how authentic this article is or whether it's really correct. I think he probably like spends a lot of his money and then buys Bitcoin. But from my understanding he is not like paid 100% or 50% in Bitcoin. He might use one of those services where you just dump some cash and then it converts it to Bitcoin. But it's not that his employer actually sends in Bitcoin. So I don't know what was the question again Thomas. It would be too bad if that's true. I like the idea of the NFL having to go to some Bitcoin person. Maybe they have to meet at a coffee shop or a bank and the NFL hands over the 6.5 million and maybe a nice briefcase and the Bitcoin or just bings it right there off the phone. I just, oh, I've got this line around for you. I used to have a computer on this back in the day and they pay for half the football player's salary. Whether it's just a promise to put the money in or it's an actual demand, he got the story written, the story got everywhere. So I think it's just more about celebrating this guy who's in the Bitcoin and wants to make a big bet. I think it's a good move. I think it's a smart move. You know, at being an NFL player gives you lots of disposable income so it would be foolish to keep it all in that. You know, he cars, jewelry, real estate. It's better to just save some and put it into Bitcoin just like Michael Saylor does. I think this is, he's already taking a bit of risk by keeping 50% in dollars. So I think he's really, he's good. I think it's great that he does that and the publicity he got around it is perfect as well. Good for Bitcoin definitely. But from what my understanding was from other articles that the NFL doesn't go to say a Bitcoin ATM with a suitcase of cash and then deposit a few million into the machine. But that he probably has it converted, maybe if I had an online service. I think overall great for Bitcoin. Yes. Again, another great image. I've pictured the NFL pouring the bills in there, wishing they had larger and larger bills. So it is, it is funny to see these new players come along with millions and millions and even billions of dollars and make these big bets on Bitcoin. They're kind of fun. I think we all wish we could make these kind of big bets on Bitcoin. I know when I put my only $1,000 in it was like all the $1,000 that I had and then it was gone. And you know, it's a lot different for these guys, but it's fun. It puts a little marker down on the board. Everyone can say, wow, what a great bet he did if he got paid last week. And they say, oh, but if he got paid this week, not so great of bet. So it is, it is difficult to be paid in Bitcoin. There are some ups and some downs there. Josh Kagala, your thoughts about the National Football League. Yeah. I mean, actually the pain in getting paid in Bitcoin is only more painful if you're 50, 50. If you're 100% in Bitcoin and you're paying people in Bitcoin, you're getting paid in Bitcoin and it moves around. You don't really even look at the front. You just like, it's not as painful. You don't notice it as much. So that's the thing about volatility. I actually did an interview with Andreas about a year ago, a little bit comfortable where we were talking about that exact thing. But yeah, I mean, it's the same thing when I used to talk to shopkeepers about accepting Bitcoin and they'd be like, oh, no, it's too volatile. I like that. Man, if you, you'll sell like one or two things a year with Bitcoin. What are you kidding? Just keep it. Keep the Bitcoin. It's not going to break the bank. No, no, no, no, it's too volatile. And it's the same for these guys. They won't miss it. They've just so much. They've got so much money. You can't spend six point whatever million. I mean, once you've got your favorite car, you've got a nice new Mac, you've got your VR goggles in a nice place to live in a Tesla. You kind of, I don't know, I guess people always want more of something. But it's hard to constantly spend. So you put that money there. You're not going to miss it, really. And the saying used to be, you know, only put investors much as you're willing to lose in Bitcoin. And now, and I've said it before on this show, but only keep as much in the bank as you're willing to lose. And I think a lot of people are starting to see that, including Michael Saylor and people like this gentleman. They don't want to keep all that money in the bank. It's risky now. But looking risky because these banks are looking, sugar, these laws all around the place that are saying, hey, we can have bailings legally now all around Europe. That's normal. I'm not sure about America yet. But the bailout, whether it's bailing or bail out, either way, the savers lose. One way it's through inflation and one way it's through just pure theft. So yeah, I mean, get, get, get, if you're earning large wards of cash, put it into, put some away into, into Bitcoin for sure. And I just like to thank everyone for giving us a like down below. We have 152 live viewers, but we only have around 44 likes. So like this video, like all the YouTube videos that you see, liking is free, liking is fun. They all say it. And the reason they say it is because when you like the video, YouTube recommends it to other people. So it's like a free way of helping out the people that make the video. So moving on to the exit question, exit question. How do you guys think this is will spread now that we've had one major NFL or put a 6.5 million dollar salary bet, maybe even next year another 50% of salary and another 50% of salary. Will this spread to other sports, other large contracts, or will the Carolina Panthers, the team that Russell O. Kong's on, will they become the Bitcoin team if he has success? Or will they mock the shit out of him if he fails? Mar team, your thoughts, how will this spread through the sport community? I think it will definitely be noticed by other players. I mean, they're all, they all got plenty of disposable income. What do you do with it? Usually, you know, it's just said you got the house, you got the Tesla, you got the Xbox, the VR and what else is there to buy right now. So this is where you will see them start looking at investments. And I think as an investment, Bitcoin is handy. You know, you can just store it easily. You can take it wherever you want to go. It's difficult to confiscate, no bail in, bail out. So yes, it's definitely be become a trend. Unless, of course, the price goes down and then everybody will be joking about, to him about his Bitcoin. But that happens to all of us, whether you've got millions invested or just a couple of thousands. Josh Gagala. What was the question, sorry, man? How will this spread through sport? Oh, yeah. Yeah, absolutely. It all depends on the price. The price goes down, you know, spread through sport. I mean, the thing is a lot of sports, people are kind of gamblers as well, people that watch sports. So I think if they see people putting into Bitcoin, maybe they learn about and think, what is this Bitcoin thing? Although most people have heard about it by now. I just think it's exciting for Bitcoin to have this kind of a spokesperson. And I welcome him, even though he's different than us, he's a sport person, where a computer geek, so on and so forth. I even love that he wears his private key around his neck. I don't know if he has a crypto steel or one of those things, but it's just so funny. This giant buff athletic person with a Bitcoin around his neck versus all of us not fit nerds with our necklaces and other nonsense. So it's great, great to have a board. A great company in the space has been around forever. Long, long time is Bitwage. They allow you to basically be paid in Bitcoin. So you can get an account with them. And I haven't looked at them for ages, but they've been around a long time, so that's why I recommend it. It was a very cool deal back in the day, the way that payroll works, you can get paid into a checking account and a savings account. So what you could do with Bitwage, at least years ago, I haven't checked in recently, but you could have some of your money sent off to the savings account that would then be converted into Bitcoin. So that was a very cool way to save your money. They still exist. Yeah, still exist. No, they still exist. They did change the service a bit though, but I noticed in Europe, they registered in Ireland. I met the founder at the Bitcoin embassy at the time, and he was then in Europe to go to Ireland and get this account set up. It was very nice, very nice guy, down to earth, really looking good at the whole business perspective of it. And it's nice to see that they're still around there. I just checked him out last week. I don't know why, but I was just curious going through my bookmarks. Of course, if Russell had used a company like Bitwage to get his $6.5 million and if Bitwage even only took 1% of that money, that would be quite a pretty penny. So I don't know that he used that or if he used Coinbase or how the NFL stood in line at an ATM. Anyway, somebody's making a great little percentage on that $6.5 million somewhere. But that's about it for the issues today. We're going to move on to predictions or a story of the week. Josh Gagall, are you ready with a prediction or a story of the week? I mean, my story of the week is that we've got a silver adrop. We launched silver on the 17th and everyone that signs up to Valtaro and just has a look around gets a part of 5 kilos of silver that we're giving away. The story of the week on now is, sorry, the guys, it's just a show fest of a prediction. When you have new things, you have new works, stuff to announce. It is a good, it's a big news. I remember for a long time, you say, Valtaro is the gold and Bitcoin exchange, but now you can say gold, Bitcoin and silver. So that's pretty cool. I want to thank everybody for listening to us on the likes. I know it's hard to listen to the goofballs on your screen when they say to push a button but we went from 44 to 70. So that's really cool. Our goal this week is 200 likes. We've been getting closer and closer. I think our last goal was 150 and we hit it. We broke it. It says we have a thousand playbacks. So I'm thinking people are kind of bored here on New Year's Day, but you could just be watching Cobra Kai. So we thank you for spending your time here before you go to watch Cobra Kai. Martin, your thoughts, story of the week or prediction. What's going on at General Bites? We added some more features to the every trade accounting package from a while back. I think it's a, I'm joining Josh's Schill Fest because we're so busy on this every trade IO app so that now you can have like organizations so you can give your accountant like read only access to your portfolio so that whenever they need data on, you know, on your stack, they can just get it. They won't be able to edit it because they give them read only access. I think it just makes it a lot easier to do accounting within a company because you know there's just one person holding the funds, but more people need access to those funds at least to the numbers. And this way you can give them access to all the reports and data so they can do their work without having to bugger. But are you raised by the way on the subject of thumbs up. Last week we noticed that people thumbed up the video and immediately the Bitcoin price went up. So this might be another reason for people to just hit that thumbs up, then the subscribe button and make sure you click the bell too for they get notified but it will help YouTube. It will also prevent all the demonetization by YouTube and it will please the YouTube overlords and start promoting the world crypto network a little bit more and it will help Bitcoin. It will help your stack of Satoshi so definitely click that thumbs up. One thing before we go I did want to talk about quickly is this whole SEC thing with Ripple Labs. I think it's very interesting and I think it could have effects across the networks of crypto. One thing that I find interesting is that now there's a civil suit against Coinbase for selling them under registered security. What I think this might be, I think this might be secretly done by Ripple Labs behind the back to get Coinbase on their side to then make sure that Coinbase puts a whole lot of strength into the case to try and get it not as a security because if it's deemed as a security might hurt their IPO if they have to pay but damages to every person that ever bought XRP through Coinbase. There's a whole lot of stuff at play with this Ripple SEC deal and I'll be interested to see what happens if Coinbase is going to really put some heavy weights behind the thing and get it. I just think it's funny to see this whole thing happen in slow motion. I remember when Ripple came out and it seemed like they sold a security and it seemed like they went from being a nothing to a giant company and the guy was on all the top 10 lists and he was richer than Bezos and all this kind of thing at least for a couple of weeks there and then it went back down and then went back up and then now we're finally getting to the regulatory response. A lot of us thought would have been a lot faster especially with Ripple especially with Ethereum. It seems they both sold securities then at least with Ethereum they got too big to fail and they said okay they're grandfathered in we can't touch them but apparently they can still touch Ripple and they're going for it and to see the headline come across the feed of Ripple delisted from Coinbase. It never made any sense that they were there. It doesn't make any sense that any of these experimental currencies are on Coinbase where they have Bitcoin which is like a 99 and all these experimental things which are like a 1 or 2 or a 0.00001 and they list them right next to Bitcoin as if they're equivalent. Just another coin in our list. Martin your thoughts on Ripple? I think today or yesterday I saw on Binance. Binance is also the listing XRP or Ripple or whatever you want to call it. There are several others that are all throwing XRP out. I think this will continue and once there are no places where you can actually trade at Coin it will become just another shit coin. Yes, this one and well for Ripple. Too bad for those people that hold Ripple but they always knew that this was a bit of a different cryptocurrency. I'm going to take the other side and I think there's a good opportunity for speculators to make some money on this collapse because Ripple somehow has the ability to constantly go up because it seems to have these like armies of shillers online and it's just crashed so much that it just seems like it's a no brainer that it's going to go. Some good news will come out perceived and then bad news and then good news and this thing is going to go. If you like ladder it up and ladder it down, not financial advice at all and I definitely fundamentally don't think Ripple is anything of interest. I never really have but on a pure speculatory bet on fake horses running, if you're a speculator there's definitely money to be made in the next few weeks or months ahead on these crazy coins. Josh this Ripple Army or I think this is not the chiller shillers online for Ripple they analyzed that a while back so they said it was like a bit of a probably automated partly automated or otherwise orchestrated event or thing that it wasn't really organic people, real people, shilling it but primarily automated tools. I mean there is some of that but I just I think there literally is so many people interested in the space nowadays that it's quite you could quite easily get thousands and thousands of people to go and be like super interested in getting their investment to go up. And actually Ripple were the first, the very first to really understand the stupidity of people thinking that they want, you know, that they see how many numbers they've got in their wallet rather than what sort of percentage they have of the whole cake. So Ripple made a hundred billion tokens and you know EOS played the same game they made a billion tokens and so everyone's like oh I've got you know 30,000 of these things and of course if it goes moves a few cents it pumps and that's why the founders of Ripple really at one stage were so ridiculously wealthy because they held I don't know what it was like 50, 60% of this thing and billion gazillion and I think this is why you know this is why it really does play in the SEC hands in terms of seeing it as a security because every time someone asks well what is the use case of XRP there like it shows that it's well it's a revenue stream of selling this this is how the company makes money they sell this because they own so many and really even if you ask a full on XRP enthusiast they always like well eventually they'll say well you don't need to hold XRP you can know so the banks will use usually IOUs between the banks and not the XRP token or they'll generate their own. So it you know yeah I think these these sorts of I don't know fundamentally I think XRP isn't isn't very nice. It was a bit like the underwear nooms Josh where you know step one print XRP step two step three profit yeah and it is amazing to see they had that incredible army all those trolls whether they were paid whether they just loved XRP the standard but to see them go all the way up and then all the way to delisted and to question mark question mark question mark and could this happen to your favorite crypto could this happen to Bitcoin I mean could this happen to Ethereum I don't know it's a fun story I don't think it will I don't think it will happen to Bitcoin as Bitcoin really has a use case and you'll find that many of the altcoins they're still well I want that struggling but they're looking for a use case or they have a sort of like in the white paper they had the sort of use case but it still has to materialize while Bitcoin I think has found this use case as a store of value and even though like Ethereum yes has a use case too you know you can like run your your smart contracts and all but as a store of value I wouldn't want to use Ethereum because there is no fixed limit so if you know you see that people right now are starting to use Ethereum as a store of value which is an anti-different story but for XRP we do support it on the general bytes ATM so if clients of us ATM operators want to enable XRP they're more than welcome to do so I mean we're just DJ you know we they ask for XRP we give we give them the option to sell XRP but it's it's not something that's really popular at this time this is there's not that many ATM's that actually enabled XRP and many of those XRP holders they are not very knowledgeable in the crypto space they are like primarily nubes they think oh it's the Bitcoin for the banks and they don't realize that if a bank would approach ripple labs say city bank for example would approach ripple labs that ripple labs would just create an XRP like system called city RP or something like that and it would have nothing to do with XRP so in that respect I think the SEC was right is saying now what is XRP I mean it's just a security basically because you're funding ripple labs and and that's you know is a slippery slope I wouldn't I wouldn't be you want to be in their shoes at this time yeah and we are seeing a lot of the tokens now are moving away from the ICO they're doing air drops they're doing governance so that the people have to actually do something to get rewarded back anything so because the best the most interesting use for me personally of of these sort of ICOs is if the company actually gives a dividend out for the profit like instead of trying to fit the weird token into have some utility where it just doesn't make sense at all and and no one uses the product because it has this utility token that you need to sign up to some exchange to get to use the service so no one uses the service so the project fails instead I'd rather have a project that is the cool project and if you hold the token you get paid some of the profits but that then of course makes it a full on security so a lot of projects are now saying no no to get it you have to actually do something like vote or whatever and then that takes you out of the security because then you're actually working by doing an action which takes it out because the how we test states that it's on you're basically profiting from the work on someone else so it's interesting watching the whole crypto space evolve out of this and dance around a lot of these archaic rules and laws that are there also for a reason because there's so many scammers out there that have scam people for so long you know we've seen it in gold we've seen it in crypto we've seen it in I mean the how he just came from land where people had lemon trees or whatever so citrus or something you know I mean there's there's always been scams everywhere so obviously these rules have evolved but then a technology like crypto comes out and it's a total twist on everything and they're trying to fit some of these old school rules on this one and and they're always going to get stuck but it's definitely an interesting thing to watch out for folks I'm I'm definitely keeping a close eye on this whole debacle and I'm very interested and see how coin base deals with it I think they'll probably just settle out of court and and get on with life but we'll see well all these businessmen wondered why Satoshi disappeared why would you create something like a cryptocurrency maybe it's popular maybe it's not popular but you leave before any of that happens why why would you do that why would you give up the ability to be on the top 10 richest list why would you give up the ability to have billions and billions of XRP all these things and now they're slowly learning why it it takes years right these guys had years of ripple being a big success before they had it slightly roll back and as it keeps rolling back and the waves are coming up to their mansions that they bought with ripple and all these other things at the end of it they're going to say gosh I wish I was like Satoshi I wish we had created ripple anonymously and just left it out there even if we did it as a you know a game like we purposely created it in a lab that we went out and leaked it you know with a cell phone modemeta pay phone while it was circulating around us but yeah they're going to wonder and they're going to learn why is Satoshi did what he did why it was such an amazing thing and it was similar to Prometheus and all these things that we talk about it was an incredible thing to walk away from Bitcoin and these ripple guys don't have it to walk away in the beginning and they thought it was cool and funny to print their own money and everyone else who's ever printed their own money whether their name be Lincoln or Kennedy it's always ended badly so don't print your own money is the lesson of our times and that's why Satoshi disappeared in case people were wondering what ripple is for wealth of course xrp is the standard standard what well no one ever knew and no one's ever going to find out so one more thing before we go I just want to thank everyone for donating we've got a donation page up over at tallycoin tally co.in slash s slash one million this is a special page on tallycoin we're trying to fund raise to raise one million dollars in Bitcoin and we keep getting closer all the time because the goal is going down we've raised around 12 million Satoshi's towards our goal of 3.4 billion Satoshi so you can donate here we also have links below to go to tallycoin you can use the lightning network donate 10 bucks you can also sign up at patreon thanks to everyone who's sticking with us at patreon you might have forgotten about it we might have forgotten about you but we still raise a little bit of money every month from patreon so thanks so much for supporting this show and helping to keep us going also thanks to everybody giving us a thumbs up yeah we got 97 likes we're very close to 100 we have around 202 live viewers so we could get this done we'll be back again next Friday at one o'clock also check out the mad bitcoins twitter and the mad bitcoins youtube account because I made another episode of mad bitcoins so there you go you guys can check that out too so thanks so much for joining us until next time bye bye