Hello everyone this is adam meister the bitcoinmeister the disrupt meister
welcome to this week in bitcoin today is February the 15th 2019 which is also
known as a de Meister's lucky day this really is my lucky day some great things
of interesting things have happened to me in the past when I valued my wealth
and something else long-term thinking strong hand um
confiscate Abul bitcoin is the next Bitcoin one Bitcoin equals one Bitcoin
okay you're at the home of no fancy sets or graphics we've got three guests from
all over the place here Twyla combo is of course in Zimbabwe and we got IDI
he's in he's on the East Coast somewhere and introducing J leap
yeah drugged author whatever you want to call them they're all linked to below
they are here in the house so we're gonna start off we gotta talk about all
the big stories that happen this weekend in Bitcoin if you know are in
cryptocurrency and one of them that I know everyone's talking about and it's
blown out of proportion for various reasons I'm it is what it is is the JP
Morgan creating their own stable coin story it basically came out yesterday
and I want to hear what the panel thinks of that we're gonna start with Edie I
agree and disagree with a lot of the sentiment I've been seeing online a lot
of people aren't big fans of the coin itself and the criticisms are legit this
is going to be an internal permissioned blockchain and it's going to be only
available to their institutional investors so it's it's really not part
of the broader crypto space the crypto ecosystem that we're all familiar with
but I think this is huge because mass adoption for crypto isn't
going to come until people have a good enough understanding or confidence in
the technology and let's face it for most of the the no pointers in the world
they they'll never get enough understanding
they're not gonna do their own research and learn about it but what they are
gonna do is hear that this huge banking company which is you know it has been
bashing diamonds been bashing Bitcoin for years until he started walking it
back last year this huge company has been bashing the biggest thing in crypto
is now no longer bashing and they're launching their own so this is I believe
a huge confidence builder in the underlying technology I tell people yes
this shit is for real and it's okay to get invested in it it's okay to
participate in it it's okay to put a wallet on your phone and use Kryptos now
we can't get JPMorgan coin we can't get this thing because there's only for
their big institutional's but when people are more comfortable using the
regular technology because they now understand that it's a legitimate kind
of technology that it's trust a bull then they can use the trust less version
that we're trying to bring into the world outside of the financial space the
traditional financial space I think it's huge do you think it's a threat to
Ripple some of the ripple people weren't too happy about it
okay yeah yeah it's absolutely a threat to ripple because this was let's face it
this was their big big angle you know we're selling to banks so they could do
some you know cross-border sell them into instantaneously well that's a
feature of blockchain that's not a feature of Ripple
they were trying to bring this technology into a different space now
they aren't actually using the same kind of blockchain they're using a whole
different kind of consensus so it's a different model than most kryptos it's
it's not like what JPM is doing they're doing something that's based on
aetherium which is a true blockchain but the real point is their valuation I mean
people invest in their coin because they think they're investing in Ripple when
they're really not so we know that's nonsense but JPMorgan is really gonna
eat their lunch when it comes to trying to establish settlement networks between
the big base you know who's got more reputation with other big banks JP
Morgan or ripple I would not be surprised if over the coming weeks we
see the overall market cap in Kryptos go down significantly because of XRP going
down even if no other coins are seriously affected you
know I don't think Bitcoin is going to be touched in a negative way by this I
think Bitcoin should go up because people have more trust in blockchain but
I can easily see XRP going down in X RP is one of the the top coins so it's
going to impact overall market cap
interesting point about a triple goat and if it goes down again kids just get
people worried if they saw the the whole market cap of crypto good because ripple
is ah but Jeff you might have some thoughts about this JPMorgan intranet or
whatever it is well yeah I I think I I think ed nailed all the points there
very well but yeah it seems to me like the early days when I was in IT where
you know the the companies are working on an intranet you know and and people
learn that technology they learn the tcp/ip they start making intranet web
pages and next thing you know they just connect to the internet and it helps
move that along and if they start doing internal stuff on a blockchain
how many more blockchain programmers are getting a free education from JPMorgan
they get to move on and it grows this space even you know their it cares how
they do their internal accounting and moving money it doesn't really affect
Bitcoin in any way I don't see this as any kind of competition but it brings
more people to the fold and like Ed said you know more people get used to it and
they hear about it and they think oh wow there's really something here with the
with the technology in general so it's good it's big it's a big news story and
on the positive side it's free marketing for cryptocurrency and you know it's not
a threat to Bitcoin although there are some fun articles there well here you
know we're we're talking about JP Morgan it's it's it's a big player here in Nike
in the Western world whatever you want to say now tawanda is over in Zimbabwe
now he hasn't heard much about this JP Morgan coin and maybe you'll have some
thoughts now to Monda I don't know you're not looking to list JPMorgan coin
on on go licks Towanda's in charge of the largest or the only exchange Bitcoin
exchange in Zimbabwe I mean you've had to deal with some issues in Zimbabwe
lately well we're talk about JPMorgan coin they
turned off the internet in Zimbabwe recently so tell us what's going on in
your thoughts on JP Morgan coin if you want to but what's going on is in Bob
way politically Bitcoin wise anything you want to say your special guests
thank you about the green one in Zimbabwe I've been saying this for a
long time that I don't need a girlfriend because the government so I didn't hear
much about the JP Morgan queen but but but it kind of speaks to something that
absolutely so while I think it's because of my background and me growing up in
Zimbabwe where we read Humana problem for a long time we read through money
problems would take them and so for me it was easy to see that the real
innovation in it in Bitcoin is the currency aspect so the current aspects
is the biggest innovation you can use right now this is all the institution so
the professor for they dismiss people technologies or scan is something that
we may awake and then suddenly they say that were more interested in the
blockchain technology we we don't care about typical talk about protein and
it's like the sweet pad they usually take when they experiment with it for a
while epidural is venturing gallery and I was like JPMorgan you be amazing but
the current aspect of the biggest innovation and it's the one you can use
today so it's the one you can use in production today to solve real problems
today there's anything I guess we have kind of theme JPMorgan kind of take a
similar path as well sad but I do agree with those other panelists have
mentioned the biggest one speciality it brings more developers to protein and
this else being equal system another way of looking at it is that they also
experimented with other things which may work in Bitcoin so worried about ways
for the JPMorgan quail eventually going to find itself only between quotation
and it's going to help the ecosystem in general so so I think it's a good thing
that we are now experimenting with cryptocurrency especially the money
aspect of the technology okay so what's up with the internet
being turned off and Zimbabwe in Zimbabwe really started back in 2008
2009 when with the worst inflation before just about him I was in college
around the time and I remember working in a bar I go to the counter and I buy a
strip steak of pieasant and the reason I bought a six bikini bicycle every time
was going to be to be counter to banner that be after finishing one two tries
would have gone up so so that's how clean inclusion was practically going up
multiple times every day so it went so crazy the government just stopped
printing it it's unmanly like the government couldn't manage money anymore
they couldn't manage inflation we switch to the US dollar but the government will
change their habits so they continued to printing money printing just allows in
the way they did it was so just said there ought to be to their bank account
when it's time to pay civil servant at the end of the month or buy new cars for
four members of parliament and ministers etc so Soto government has been spending
more than ETS go to a situation where a few years of waiting it was like two
years ago where there was a lot of money in the bank but just no cash to actual
cash to pick up that money so you could round attendance in barber eyes Adam we
when we when we spent a long time in a queue or the game trying to get some
cash because but but you couldn't get fish in
with so we've read this thing where you've got if you if you've got a
hundred dollars in your bank accounts you'll taste someone 400 to last two to
give you cash so split to be just Rolla but it could be kinda changes depending
on whether you get bank account or cash because you can't really take money out
so so so the government has put price controls on only a lot of stuff but for
example a gas for your car you guys call it graphically purely in this part of
the world so so bank ask for your car that it's like a little fraction of what
it's really with because the pure companies can't get cash to imported so
government is kind of subsidizing but the government has run out of cash a
sort of a massive protest now they try to ice the price of fuel to kind of like
control the shortages because the queues we're now you'd spend days so we're
spending days queuing for a to in for gas food gas in your car but most of the
chasm be in the queue and you just push them to me as to get to the filling
station and what they would run out of fuel and in life we had kids that was
kilometres long between so clear the government could the only solution was
to ice because to get rid of the cube it's amazing how they I don't know what
gives them as I saw they come up with your permission and so what happened was
they were massive protests there was a lot of police brutality soldiers on the
street are asking people are people getting short file by soldiers and to
kind of control that to control the image in first town media and in the
international youth they started to shut down the dual internet in the old
country for the disaster tab let let especially for people like myself that
ran in Internet case giveness yeah other disaster we couldn't get
online for a few days yeah that's that's huge you couldn't do your business and
then people couldn't buy Bitcoin either yeah the internet shut down just when I
was about to do a screen transaction to sell some whip cream and then it shut
down and so like we didn't really know like the transaction go through we did
not see I thought it took us a few days to find out if it really went through
that has a good application for the satellite Bitcoin transactions yeah
exactly that the saddle that would have been a time to whoa
luckily they got their internet back now and they don't have to worry about doing
satellite well maybe they don't worry about for now at the moment there's a
prepare to Wanda you should get you should get in touch with the the saddle
whatever it is the black screen satellite or with a head and the mesh
networks and all that stuff yeah I'm sure you've got that's fun but going
back so they how many days was the internet off for for three days and then
the next day still you try that let's came back for after day it's been for
another couple of days we did it them to push our media so you couldn't do one
sample Facebook etc so you just install the VPN and
to just you know to push out media in with that but it's very hard to go
someone challenged the government in court in and one intro good I'm glad
that side of the government is is okay yet said the governor that it's
completely illegal to shut down the internet on on everyone you know in a
country of millions of people now what I want to remind everyone that this is
under a new Robert Mugabe government has been gone since 2017 now so this is you
know Towanda was telling stories from 2008 and this was under one government
now we got this new government here and it doesn't you've got lines for gas
you've got I mean it's it's still about government interference and government
interference is gonna it's going to take things in a bad direction whatever they
do if they print money if they control the price of gas if they turn off the
internet it's going to cause problems now it is unfortunate I'm very happy
that I'm that world gets to hear Towanda here because
we've heard about fuel protests in in France and in the yellow vest well this
is the same thing that's going on there except people are getting shot in in
Zimbabwe which is it's the situation is about ways much worse than in France but
we really haven't heard about this and again you're not a country that produces
oil so we don't hear about it for that reason either and and I think a lot of
people were satisfied in the Western world well Mugabe is gone everything
must be fine so if something happens there who knows
what's going and they turned off the internet so you guys couldn't tell the
world here so I'd love to ask Wanda a question so I'm on the one hand sorry to
hear that the police are shooting people in the streets because people are
protesting because they can't get Fuel to live their lives on the other hand
I'm thrilled to hear that the judges have reversed the the government's
decision to close the internet so I'm dying to ask some Hmong this question
and you're in a place to answer do you feel that the judges reversed the
government order on internet because there's a newfound respect for the rule
of law and that they're creating checks and balances in Zimbabwe or is it just a
matter of well the judges and their families really felt badly because they
couldn't get on the internet and they wanted to restore what they wanted for
themselves
first of all I'll be honest I should be add question for me to answer because
I'm I'm actually living in the babbly so I have to keep my word okay I apologize
I apologize and realize what I've done I think I think that says a lot that I
write there people know this is a very serious thing when I had the guys on for
Venezuela we all I mean this is an ongoing situation right now in Zimbabwe
it is it is amazing and I I'm glad we here we can hear we can see and hear to
Wanda now so hopefully things will improve what what do you foresee this
situation bringing on in terms of crypto interest have you
have you gotten a lot more hits on your site lately let's tie this in the
Bitcoin somehow garden in Zimbabwe we don't if I told you this before Adam but
we are going to be blood trading operations in the bubbles around July
last year abscess regulatory problem so we we got as justices the bigger picture
we got fun by the central bank we challenged them in court we won in court
but still we can't get a pink account so so even though we we weren't in court
like like we didn't mean anything we with two can play together get a bear
account until today so so it really isn't it any effect but but extremely
couple of decentralized cryptic things you've come up in both are both are
doing very well in in actually growing so to play it gets me thinking like when
you when you look at all this problem in Zimbabwe to be really clear that
technology is a good solution for all this problem it's AB so this on the
internet was shut down special media special media like gives everyone a
voice I can ask people to to organize protests if they are being treated
unfairly it allows people to let the world know what's really happening well
you can easily share photos and videos and and things like that and so I think
technology does solve all this problem today today we put cryptocurrency
proving money problems today people I kill using cryptocurrency to do
international payments could put a payment
although it's not just early to add that you to get your hands and keep the
currently because colleagues hasn't been hasn't opened up to the ba-bling for a
few months now but that is the future going to be things like synthetic
biology where people creating their own petrol and diesel in the album so I
think technology is going to continue to be a good solution to all
this problem okay well I really hope that Golic scan open again you mentioned
they're decentralized do you mean bisque that's a decentralized that's a
decentralized exchange I don't know if you've it tried heard about that one yet
that's worldwide but I I agree that technology is is it'll solve it will
help push things along and these centralized technologies hopefully can
get around central governments and push them in the correct direction I want to
ask you real quick got to wonder are you going to cut are you going to go to the
any of the Bitcoin conferences in South Africa that are coming up in February
and well there's one of your has burring there's the one in Cape Town and the
reason I ask is because I don't know if you heard but the the premier of the
Western Cape the lady that's in charge of the Western Cape is speaking at a
bitcoin cock at the Bitcoin conference in in Cape Town in in March have you
heard about that yes I did so in earlier today we exchanged some
emails but uh but I'm not going to be able to make it unfortunately
so I can't travel for a few weeks um I'm trying to get a visa to go somewhere I
had to submit my documents and stuff so suppose I can't travel for a few weeks
I'm going to have to get that conference are you going to be there I know we met
you last year no no but I'm not gonna be there but I thought I wanna know your
thoughts I mean the premier of the Western K is that a bit is that a big
deal do you think South Africa's going in the right direction I mean that's
very interesting that their premier is speaking there I think the big deal it's
a really big deal so so one thing the South African government gives which a
lot of government like including the suburban cousin doesn't get now you if
government was completing with other governments especially in the technology
space so in places like South Africa they've made it real easy to foreign a
day to stare at a business Jeff a man with skills particularly in
technology to relocate Africa they've made it a lot easier and
they've got a regulatory framework which makes it easy to start a cryptocurrency
business in South Africa so the government is very supportive as well
very competitive citizens in South Africa are going to benefit a lot in the
long term for for the positions their government is taking now so I think the
very big deal at the end it's a good thing something a lot of companies can
learn from all right well everybody out there I don't think I've said it yet
pound that like button for Southern Africa hopefully a Zimbabwe can get a
little bit more cool with with Bitcoin like South Africa seems to be doing
we'll get back to tawanda in a second let us move on what elissa nomads did
you have a did you have any query housing the like button we got two
nomads on this drugged author is also known as jaylee porter he's known as
Jeff do you have any thoughts I do many questions for Towanda no I'm just
fascinated by that I hadn't heard any of this stuff makes you feel out of the
loop yeah you know I'm just amazing people getting shot up all right
yes so Jay Lee Porter actually travels all around the world he's got a book and
what we'll talk about in a second but I want to ask him he travels around like I
do but he's he's a little different than me um I'm really proud to have him on
the show today Jeff is the tallest man in all of cryptocurrency he is seven
foot three and I mean this is I'm serious this is no joke people this is
unbelievable I hope I hope someone finds someone taller and then then you have to
get a new way no I actually I looked up the statistics and like once you get to
seven foot three there's like very few human beings that are even than that
tall at currently so it's it's it's amazing it's amazing but let me ask you
let me ask you your opinion and I don't know if you even heard about this yeah
that coinbase has they've created a cloud storage for
your private key if if for some reason her story your Bitcoin
over coinbase they they could put your a private key in the cloud yeah my
understanding is I just read the headline on it but I mean they encrypt
it and then you're soaring it in here yeah I mean you know if you understand
if you have the level of technology you know if you're good with technology
enough to make a paper wall to use a hardware wallet that's great but there's
there's got to be a heck of a lot of people on coinbase that have 20 50 $100
you know and it's one more way to backup their key and and it's like Andreas
Antonopoulos talks about you got 20 dollars worth of Bitcoin you put 20
dollars worth of effort into securing it you know yeah not everyone can say you
know hey look there was a time you know 20 dollars you could buy a Bitcoin and
now it's you know thirty five hundred bucks or something but you know you know
what's going to happen is you know people buy 20 $100 because someone at
work told them to and they'll bill five years from now read an article about
Bitcoin hitting you know a million dollars and they'll go oh wait well
what's that site I was on let me go back and see if it's still there and I mean
look you know look there's always better ways to do it but for most people on
coinbase that just have you know 100 bucks or 200 bucks on there and and they
don't want to put any effort into it why not how many how many people right now
like you know have Google Drive and they have text files on their computers with
their keys or with their passwords and that stuff synched up at least this is
encrypted I mean you know general security practices for people are
horrible yeah you know okay you're speaking as a rationalist here I mean
you're looking you're looking on the bright side of things when I hear about
it I'm like this is this is setting a bad example you know it's it's well put
in the cloud and the cloud is safe the cloud is not safe yeah but they're there
they're trying to get you to keep your Bitcoin with them so that they can make
the money on the trades and everything that's their business you know you know
if it's not the best way to do it you know store it on a hardware wallet
or a paper while I put it in a safe and forget about it and then five years from
now figure out how to take a hundred different Forks chains off your paper
wallet you know I mean that's a you're absolutely right I I would love to think
better of coinbase and say yeah they're doing this completely altruistically
because they want to protect their customers and there's a degree of that
but also the cynic in me is thinking you know a part of this is they want to
avoid the customer support nightmares that would happen in the future when
when people try to make claims on these coins and they no longer have an account
or the had to be closed because of regulations or maybe coinbase went under
and now there's a custodian who owns Cohen's basis funds and they don't want
to address all of these individuals so I say well we gave you your keys they're
in your private cloud you deal with it I I don't know maybe maybe some of it's
that but I'm I'm I'm with our host of the Meister on this it's it's it's just
moving one risk to a different kind of risk you know how many individuals get
their Gmail account hacked and if you've done that is your Google Drive safe and
are your crypto keys on your Google Drive have they really protected you
when I worry about you know Uncle Joe who's not tech savvy I would rather him
just maintain a coinbase account and try to have a copy of his private keys
anywhere well I gotta say one thing people don't don't put your private keys
on your Google Drive please don't just get the treasurer at that point I wanna
thank Ken Bozak for the four dollars and 20 cents in the super chat strongest
hand in Bitcoin how goes it bro grow walls can it's
always good to see you here man big Ken Phil tell Kim that they can check your
direct messages on Twitter I've been trying to send you a copy of the book
buddy too much $4.20 things for for Ken there
apparently and it appears all right I went up wait who says we're talking
about coinbase I wanna ask add a real quick question and bring up something
there was a corn-based said today that people who had their be cash they're now
getting their bsv delivered to them which is great I guess
that's great I mean whatever they didn't steal the bsv
but edie they saw him given people to be gold yes no do you know any update
because people ask me about this they don't they don't they don't say anything
to us that they don't say publicly there they have been they have the fear of God
in them ever since that horribly botched Bitcoin cash debut on their markets so
that's a huge piece of it we're trying to work with them we're trying to get
full unlisted you know it's it's it's an uphill battle to get listed with with
coinbase but things have opened up and it's more likely to open in the future
we have good reason to think that we're making progress on that but as far as
delivering the Bitcoin gold that they hold which belongs to all these other
people you know it's almost indefensible for them to continue not to disperse
Bitcoin gold to people while already starting to put out the Bitcoin SV and
the only reason I can think of that you can use to rationalize that is that they
intend to list it you know that's the only way I'd excuse this behavior if
they intend to list it if you're listed sometime too soon and then people can
withdraw or trade okay that's fine but if they have no intention of listing and
they're not you know answering questions to us and they're not dispersing the
coin I think they're setting themselves up for lawsuit yeah well I've been
saying that for a quite some time and there was someone that actually
contacted me once that wanted to sue them because of that and you said they
had the fear of God I don't know because this BSP wasn't immediate it's been 2
months now since be that since they could have distributed it so it's not
obviously it's not as bad as the be gold situation which is what now 1 and a half
years basically of not but I would also I'm on your same line of thinking I
think they're gonna list up be gold eventually they they put out those
teasers of all the ones they might list and that was one of them and it would
make the most sense because they can already you can just give that out to
everybody and it'd be a big big fiesta over there because everybody loves to
get three coins even though they're not a those were their coins that but
they'll people still think oh it's free I gotta even know I should have already
gotten so yeah and adds obviously he's with the B gold side of things and we'll
talk more about that was there anything else you want to say about that ad sorry
I know that that kind of covers it I mean the only other thing I would
mention is coinbase is institution you know I know they're on the crypto side
but they are an institution so they might have more respect for new coins
like Bitcoin cash that are backed by institutions you know Mining Corporation
and large names who have funding and backing so that gives them a confidence
Bitcoin gold was a non-profit startup we didn't take an ICO and get investment we
didn't have some big mining company backing us so they could legitimately
say well we don't know if this thing's gonna be around well it's a year and a
half now we're still around our tech is doing better than ever we're continuing
to grow they don't need to have that kind of concern anymore so there's no
good reason not to list us all right Towanda do you have any thoughts about
what we talked about about storing privately Keys in the cloud I'm sure you
don't do that so any any thoughts on any of this yeah I think about it to be more
the more you do realize that today there are still a bunch of people in the if
cryptocurrency cause more mainstream they are going to be a lot more people
but that are not tech savvy enough to to be able to store the apply be to keep
secure on and so I feel a real deep use case for
add we wanted such as au lait jab in in SAP so suppose society big use cases for
for wallet such as those but but but yeah I think they are always going to be
people that cannot kill security appointees in there like like to be
honest we'll be better off storing their crypto on a place like claim based was
it difficult to treat them so say they would likely lose it in and so yes I see
some real use cases for for this value wanted the more secure way to store your
cryptocurrency you know it's funny you're right there's
some on the other side of the spectrum Andreas Antonopoulos and I talked about
this before he talked about how some people asked him about all these complex
ways of serves of storing your your crypto the ones that tres mayor has
talked about and people start worrying well I'm not I'm not only I'm not doing
it like tres Mayer is doing it but if you don't understand the technology
you're and you try to do something you don't understand you're gonna make a
mistake and it's just it's better to stick with the technology that you
understand and I think a good base level is though is the hardware wallet
technology I think that's something that a lot of people can understand there are
gonna be some people that are just gonna be that they don't need a third party to
do it for them they don't need a a Bitcoin bank and coin basis well on
their way to becoming a big coin bank I mean it's clearly part of their their
plan okay moving on I want to talk about some you know we're jumping from
Zimbabwe back to the USA I want to say town that like button let's talk about
jaylee Porter's book and your whole lifestyle
yes well I decided to take a sabbatical about three years ago from from my job
and travel to Guatemala and lose a little weight and you know just kind of
one of those midlife crisis things and I had bought some crypto currencies and
they started doing pretty good about three years ago and I said well well you
know if I am better off than I was a month ago at the end of the month why
don't I just travel for another month and it's been three years now and you
know I just I don't have the I don't have the programming skills I once did
and and I I tried to get into doing some you know looking at the cryptocurrency
code and stuff and I'm like man it's it's a little out of my out of my league
now and I kept thinking about you know and I my co-author EDA ha has been a
nomad his entire life he was grew up moving all around Asia and even lived in
Venezuela and all over and talking with him and we talked about like how
these different countries are they going come out with their own coins are the
bank's is it going to be the country's versus the banks and then who who and
he's a huge fan of Atlas Shrugged and Ayn Rand and I am too and and we decided
to write basically a modern version of Atlas Shrugged where the the heroes
aren't the industrialist so much as as they are the programmers that work at
the central banks that work at the major banks so basically like the you know the
JPMorgan coin you know that type of you know those programmers that are in there
but then they a lot of them have a libertarian leaning they like to travel
around the world they can work from anywhere due to the nature of their work
and their kind of undermine the central banks and governments when they try to
put in control systems in the money you know using money as a form of control is
kind of the the evil socialist aspect of you know like from an Randa or from
Atlas Shrugged you have to kind of the creeping socialism and and and in this
it's kind of the the creeping of using money as control so the heroes of the
books are digital nomads programmers and the first book is crypto Shrugged and it
deals more with a corrupt government and that's that's creating a crypto currency
and the second book will be out in a month and that's called crypto citizens
and that's more about smart cities so that's kind of the main focus on that I
didn't know about the second book coming out here yes now if you're the first to
know his Twitter's link below so follow him and also where you can buy the book
your main website I went to boys crypto shrug calm yeah yes it's it's down there
or one of your websites is down there there are connect yeah yeah they all go
the same they yeah if you want the book get in touch
check out the links below and people have seen me hold up the book before I
don't have the book with me here in Israel because it's it's in Baltimore
but people see that before I got a ice tubbin yeah I don't know spoiler alert
here anything read the thing by the there was lot was going on last time I
was in Baltimore so couldn't read the book but yeah this is this is awesome
and so your your trap eat like me you travel around that's yeah there's a
there's a couple great advantages for for people especially people that are
into Bitcoin cryptocurrency one is the cost of living you know welfare for us
from you know from the United States the cost of living in Central and South
America is much less so you know when you don't have an income anymore and
you're just sitting on your best so the cost of living is cheaper and also for
Americans for for United States citizens if you are out of the country for it's
it's like 11 months out of the year you'd have to look it up 336 days if
you're in a foreign country you get a foreign earned income tax exemption and
you know and if you take the time and write some cryptocurrency fiction then
you get a tax write-off for the travels to research the locations you got to be
legal you know no you know researcher now exactly right yes you are you are
truly in motion and I'm I'm glad we finally got you on the show yeah because
we were supposed to be on that one sure they got cancelled very very good to
have you here and everybody check out the links below for all of these guys
every one of these dudes okay now let's let's move on to what if Eddie
or any of your Towanda if you had questions for Jeff please that was time
but if not let's uh a big old update I know you know people have already talked
about all coins well there's a big old guy on the show what I'm talking about
is all coin go ahead well one thing we're doing is within the next couple of
weeks poss as early as you know a week or two from
now we'll be rolling out the new version of our core wallet we based our original
off of bitcoins core wallet the dot 15 version we're now based off with about
17 versions so we're gonna be doing a big push together but it upgrade their
full nodes partly because it's always good to have more full nodes but also
because it last time I look they were close to 20 people still running 15 dot
0 dot 1 & 0 2 which are really old versions and are from before the fork
last summer when we changed our hashing algorithm from equi hash to the 144 5
version of equi has so those people haven't seen a block go through their
notes since July of 2018 but they're still up and running people need to
upgrade their nose to keep things working and be contributing to the
network um in in line with that we've also got some new technology rolling out
with it we finally enabled compact blocks which is necessary to help
support mobile wallets we've also got a bt GD which is our port of bt CD which
is an important under lier for technologies like neutrino so that's all
coming together and that's all part and parcel of getting Lightning Network on
main net but also enabling it for mobile wallets so that's all coming together I
know a lot of people are frustrated that we're not you know deploy lightning
Edward immediately but you know those of us in the technology space realize you
can you know pour it a little bit of a code and do a test and say you have
lightning there's no network if there's no network if you haven't made it easier
for people to get online and transfer into lightning and start transferring
within night me there's no network there's no lightning Network we're
working on the the core parts of the infrastructure so that we can start
providing the same services and and where we're leaning heavily on all the
things that have been built by other parties lightning labs and others have
done fabulous work we're working on integrating that into our ecosystem and
then our developers can hopefully begin to contribute back to the systems we've
already contributed back to the Bitcoin ecosystem code wise and we hope to be
able to do the same in the Lightning that we're
side of things later this year we're going to be working on working on plasma
side chains for Bitcoin gold a lot of people have been asking when we're gonna
have some sort of smart contract solution and our lead dev has been
looking for years on how best to integrate them and our final conclusion
was rather than try to change the main chain and bring new technology into main
chain which is always a risk we are going to work on implementing plasma
which lets us put up side chains and the smart contracts can be in the side
chains we think that's a more extensible solution we think it's a safer solution
that's the direction we'll be working on later this year once we got Lightning
Network taking off once we making sure that all the core infrastructure is in
place okay I have a marketing advice for for B gold before a beat make a B gold
having clock page 2 to get the count down you see a light coin has a they
have a countdown to they're having Page Bitcoin has a few of them you can see
how soon the Bitcoin having is so you have abeba be gold having good a little
excitement around I like it I like it's because roughly the same time span as
Bitcoin because you know we had the same block time and we forked off the same
shape but it's not the same and people would be interested to see who's running
ahead in behind you're absolutely right it's a little bit it should be a little
bit before right it'll be a little bit before the big it should be before
because when we first forked and created Bitcoin gold there was a mining period
of 8,000 blocks over the course of a day to establish the endowment that funds
everything we've been doing so we're 8,000 blocks ahead as of the fork itself
and we lost about 2-3 weeks of time between the the copy of the Bitcoin
chain and the launch of our chain so that we forked on October 25th and we
launched on November 12 so we lost a couple weeks but we bolted in 8,000
blocks to collect a hundred thousand btg endowment and you know the majority of
diamond is still there we've got a public transparency page where you could
see the balances in all of the endowment wallets and the total endowment balance
and it's still well north of 60,000 I think we're close to 70,000 btg still in
there we've been being really careful with the endowment especially during
crypto winter you know a lot of organizations have been
holding their doors closing their doors and folding up business in November
December in January because of the long winter we went on an austerity program
back in August of last year we come back non-essential staff all of our staff
took a big hit on salaries we've reduced their expenses so we're doing everything
we can to preserve things so that we survive the winter so we could keep
providing but that should also give people a measure of confidence you know
we're being careful we're making sure we stay alive we making sure we have funds
to continue operating in years in the future that's part of why we have the
growing reputation that we have and why more places are listening us well I
always like to hear about austerity you know I'm not a big spender I like I like
saving and cutting down and living a minimalistic lifestyle I like when a
business our government gets a minimalistic now on that same note we're
gonna have a lightning round here or weird there's the talk about coin burns
burning coins be private is burning some of their coins for various reasons do
you guys have any thoughts on that on if that's gonna be a trend in the future of
all coins just getting rid of coins just especially if they were Forks you know
getting rid of Satoshi's coins nobody else wants to talk I will no please
simply put I think there are two kinds of coin burns one is just the gross PR
stunt or someone you know they miss estimated and their inflation rate is
too high or they're trying to rationalize the value of the coin so
they're intentionally burning them and we've seen that in the past with Bitcoin
cash I think that's no value to the ecosystem and the other kind is well the
private is doing you know their demons because they discovered a flaw and they
don't know how much is out there and who's got it and who stole it so they're
burning coins to cover the error that's not good for them either that's that's I
mean it's good that they're burning what are potentially phony coins and
they're getting rid of that you know inflation problem that comes from not
knowing how many coins were injected in there but but is bad for their model
it's bad for their team to have the kind of exposure where they have to admit
publicly yes this screw-up happened and we're trying to cover it by doing this
and it they're not just burning their coins at least Bitcoin cash there they
they were the miners they decided to start burning their own kind you can
always burn your own coins that's somewhat legit but with Bitcoin private
they're telling people you know if you have your coins held this way make sure
to ship them because after the burn they're going to be gone you know that's
a fundamental change to the ecosystem that that punishes your holders if
somebody invested in Bitcoin private and I hope you have it but we invested in
Bitcoin private back when it was costing one hundred two hundred dollars to buy a
Z classic before the fork or if you bought it you know at fifty seventy
dollars before it plummeted down to where it is now you could have put those
coins away you could be trying to wait it out thinking maybe this project will
succeed maybe you have faith in the people working on it I mean it's great
for you so you're holding and now you're gonna get punished because you didn't
move your coins because you weren't following it must come off I don't think
that's the way to treat your community that's what yeah there's there's pros
and cons of these things I I do we will see what how it all ends up because
that's that that's happening real soon and what happens one it when a
cryptocurrency gets rid of like half of its outstanding coins we shall see what
happens to the the market cap and the valuation is a be interesting okay one
final question this is about them and again I'm just pulling this one out
there was I talked about the other day but I thought maybe you guys would have
a thoughts thoughts on this Ed properly does Finance coin is head finance issued
back in I guess a year over a year ago their own ICO finances in exchange and
they had an ICO for a coin that helped fund their business and now this it
keeps going up it keeps going on people and it was pointed out that you know
this is a any exchange that probably is not they don't do kyc like the United
States government would want them to and that this is a centralized token that
could disappear at any moment and it seems to me I mean again personal
responsibility is a new counterculture you can buy whatever you want to buy but
this this seems like something uh it's a little heads says this is the crypto
winter you know people are looking for bright spots and people at all it's
going up in value in terms of Fiat I don't know I think this could this
could get people into a bad situation eventually um I have a question about
about that finance stuff yeah I I heard from someone that a cosmos network is
coming out and in another few weeks and that that by Nance we'll be building a
decentralized exchange on cosmos and I'm wondering how does that affect their
their token what I what I heard workers when they first they make when they
first put out the by Nance coin years ago that was done as an e rc 20 on
aetherium so they couldn't disappear then but now they're standing up what
they call it's either by Nance coin chain or
finance chain they're gonna stand up their own blockchain and I'm not sure
what they're building it on but their intent is transfer by Nance coin into
their blockchain and use their blockchain as the basis for their new
decentralized exchange so once they have their own chain we'll have to see how
much central control they have over that chain because if they move their coin
into their own chain and they have control over their chain then it's
exactly as Adam said that they have it all and they could disappear at any time
but if they do the right things and let's let's face it finance has been
doing the right things on a technical basis that's why there's such a wildly
successful crypto exchange yet they've only been around for two years and
they're one of the top exchanges so they do a lot of things right and the guys
behind the finance company they were building crypto exchanges they were
building a traditional financial exchange software before they started by
Nets so they know what they're doing on the tech side if they do it right they
make sure that there's enough decentralization to ensure the longevity
of it it might it might work out quite well and of course it's always good to
see a decentralized exchange and it's not purely decentralized
anyone who looks at decentralized exchanges knows that nobody out there is
doing purely purely decentralized exchange that can handle any decent
throughput finance is doing a hybrid thing so we can have really quick
throughput but it's going to be effectively sort of a consortium of
people controlling the chain which is what allows it to travel so so go so
quickly so I have a lot of concerns I want to see where they go with it but
development is always a good thing and by Nance is one of the better
players out there so I'm looking forward to what they do all righty
that's uh that's that's that's that's a good elaboration right there like that
like to hear more about that all right let's let's wrap this baby up we're
getting toward the end of the show I want any any of you guys if you had any
thoughts any final thoughts any things that any stories that didn't get out
there please now we'll start with Towanda anything you want to say any
thoughts any stories you want to bring up
yeah just replace this or so no luck with for me but but yeah but I'm really
excited to you at whoever the other guy good to see all right dude well I wanna
from from the bottom of my heart and from I think all the people watching
this stay strong over there good luck keep us updated I I'm so glad that we
got to talk about Zimbabwe and this may be this may a topic for a beyond Bitcoin
show it was remember all Saturday we go beyond Bitcoin and talk about all sorts
of different things we had a special event as well with a
special Venezuela one so maybe I'm gonna keep following this in Bob way situation
and if it's if it does not resolve but I think we as you know spread the word
people spread the word that there's a there's a situation over there just
because Robert Mugabe is gone doesn't mean it's the end of the story he
there's there's some stuff going down so yeah good luck hopefully Golic still be
back online people of Zimbabwe get yourself some Bitcoin I will say that it
is uh definitely insurance against such situations if you know during such
situations if it gets really bad you just take your Bitcoin with you you go
to South Africa where they're there they're growing to like Bitcoin even
more all right let's do Jeff what are your final thoughts I tell you heaven
having a little bit coin having it put away and you know being able to pack a
backpack and take off as a plan-b it may not be
for everyone sometimes you know you have your your family still and you need to
stay close to home but it is not a bad plan B instead of just a you know
grabbing a gun and running into the woods with ten ways to start a fire like
half the Preppers on YouTube you know there's always a there's always a beach
out there with the cold beer at a bar that'll take Bitcoin in three years from
Guatemala Ecuador you know Peru everywhere I've been
someone will take someone will take Bitcoin all right I love comparing it to
the Preppers yeah this is a little bit more realistic than some of the
situations they throw out there you know how they would escape this you can just
get pretty easily with since the Bitcoin just pick up and go to the bar in the
Caribbean you're safe that's a better than living in the woods with a bunch of
six and start a fire like it's 1821 now speaking of beer do you happen to
have a beer or a soda can with you so you can hold it in your hand so people
can see so it's someone it's 9:30 in the morning I don't have my beer on me yet
so when someone in the chat actually brought it up and said something like
that you know they're they're bigger than trumps all right no I was going to
say I can I can palm a basketball but but uh but just barely just enough so
and you're you're you're you got the last word here today all right you're
gonna have to cut me off if I go too long we didn't get to mention in the
u.s. in Fairfax County Virginia a public pension fund invested in crypto in the
crypto space now they're not investing by buying crypto currencies they're not
buying Bitcoin there they're investing through a venture capital fund which is
investing in blockchain technologies but still it's more of the traditional funds
coming into the crypto space it's it's sort of the beginning of the avalanche
of investing in crypto technology but also eventual
more and more people will be looking for non-correlated exposure that's gonna
mean crypto coins - you know the hedge funds are beginning they are starting to
have good custodial solutions which they're required to have to do the kind
of thing they do everything's in place to see more institutional investment and
that will trickle into the crypto coins eventually and bring up the prices so
that's a good thing but that is still investment largely in the non public non
trustless non decentralized space we have to take care of that so we have to
do things like run the full nodes I run a Bitcoin full node a litecoin full node
a Bitcoin Gold fold node and I bring this up because I just want to remind
people participate participate in the coins you believe in you can mind them
if you can't mind then you can run nodes if you don't run nodes you could tell
people about them we do still have to get the word out about the stuff that's
outside the institutional space to build the knowledge out there so that people
know there are people who are saying it's not just the insane people on
Twitter doing this stuff there are good normal people that they know that are
doing crypto if they learn that if they see that they can accept the technology
JP Morgan's on the technology they can accept the value proposition their
friends and family invest in this stuff that's how we build this up that's how
we keep us going that's how we eventually build the new financial
ecosystem well that was beautiful that was a good way to end it I wanted to say
that yeah it is a good first step you know they're not buying directly in the
cryptocurrency but they're buying you the companies that deal with
cryptocurrency there's gonna have to be a first step
public pension funds I mean they're strictly they don't do drastic they
wouldn't just jump into Bitcoin anyway it's it's you know into the little -
kiddie pool and then into the big pool and you know III think it's also for
those for the citizens of Virginia who are 20 percenters who actually aren't
getting uh you know up in arms and obsessed with all the other crazy
stories that are going on in Virginia right now and that's for the beyond
Bitcoin show but there's a lot of insanity going on in Virginia right now
and you can go have a crazy fit get hysterical about that or you can hear
about a story like this about a pension fund
what is this crypto King let me get into this instead of you
know virtru signaling online about these three politicians or whatever how about
how about that for a take on all this so people in virginia if you this is that
this is for the 20 percenters okay don't get distracted by all the noise out
there in your state this is a real story you probably haven't even heard about
this story welcome to crypto get you to enter the
bitcoin overlay get get away from the virtue signaling social media oh he did
this in 1979 world okay so there you go that's my conclusion for today i'm adam
meister the bitcoinmeister this rotmeister thank you guests for being on
the show this show is on it every friday we do this week in bitcoin everyday i do
another show saturday is the beyond bitcoin show you know how those real
pound that like button follow me at Tech ball tch be alt on Twitter someone send
me some bitcoin recently thank you for that there's all sorts of donation
addresses affiliate links are below shabbat shalom thank you again guest we
will see you tomorrow bye bye thanks
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