Hello everyone this is adam meister the bitcoinmeister the disrupt meister welcome to the one bitcoin show today is October the 18th 2018 strong hand long turn thinking I'm confiscating Bowl this game is not rigged one Bitcoin equals one Bitcoin value your wealth in Bitcoin people hey you get shirts from you at reservoirs affiliate links below this one says 2 point 1 quadrillion Satoshi's oh yeah Satoshi Nakamoto baby yeah I like this shirt it's growing on me it's growing on me remember I am in Santiago Chile I will be in New Orleans December 3rd and 4th and an event down there if you want to join me there links 20% Meister discount code is linked to below check all that out link to below travel to New Orleans is a good time of year to check it out I've been in New Orleans before when I was a younger man and when I valued my wealth in uh other things other than Bitcoin I was at the Mardi Gras anyway so so let's let's jump into today though and well before we get to today tomorrow this week in Bitcoin show you can check out all the old this week in Bitcoin shows at Tech ball calm Tec HP TLT calm tch be alt that's why I am on Twitter I'm tweeting things out all day long tomorrow 4 pm
Eastern Time that's 1 pm in Los Angeles that is 9 pm in London 10 p
m in Italy this week a big coin that Oh Riko will be on Marty Ben will be on and introducing jeet oh yeah he'll be on – I've used his tweets before he's got a great Twitter feed or talk all about it tomorrow so this week hasn't been that exciting though for some people will have a lot of things to talk about I mean at the beginning of the week there was fidelity and all the tether nonsense and these guys are great and they'll have so much to talk about but there are a lot of people out there there's not much going all today today especially not much going on in Bitcoin and crypto today got a look at my own coin desk to hear some boring old stories that they keep from done needs some generic ICO stories now to make it seem like things are for the boring is good what's wrong with what's wrong with more what there doesn't have to be an earth-shattering fun inducing story every day of the week it's it's kind of nice and it just strengthens my hand but for some people they're like what the price isn't moving that much I better sell Levitt or sell you know dick boring unfortunately impulsive people don't like boring they don't like they always want to be doing something and times like this they'll do something for the sake of doing something and that's that's the side of what we can right there yeah don't let the boring what's wrong if you're bored with Bitcoin then you know go go watch a video about philosophy go read more into some of the specifics of crypto and Bitcoin for there there are a lot of story I'm gonna talk about a lot of things on the show here today again none of them are earth-shattering but they're they're great reminders of what a great future we have so if you're bored think of a bright future okay you shouldn't get bored people should be if you get bored you're not it you're not an interesting person some would say you know yet yeah it shouldn't get bored but again there's some people a little bit Bitcoin is boring now there's no major story there's no price movement no no no no you're not using your head you're not using your head but again and if you're not using your head you're likely to panic and have a we can and sell so you know to talk about how much things have changed over the years in such a short time and we're gonna talk about custodial soon we're gonna have all these big financial organizations with their custodial accounts and the financialization of Bitcoin and what went day that will happen on I don't know people be patient it's going to happen but back back in the day 2016 let me teach you a lesson about and some of you know this story but some of you are new about letting other people hold your big coin or letting other people hold your crypto there was the great BTC – II exchange which eventually ran away with everybody's money but but before it was hacked or stolen from or whatever it was people liked it even though no one knew where it was it was maybe was in Eastern Europe or something so some people were keeping their aetherium there and all of a sudden in 2016 the first major crypto dividend ever happened ethereal classic was born everybody who o controlled their etherium private key was entitled to this new thing called a theorem classic everyone was going on wild abalone X trading it oh my god it was a talk of the town BTC – they had an issue with the etherium they were storing for people because it wasn't really those people's aetherium they soon learned because BTC – he couldn't deliver the etherium classic that all the etherium owners thought they were getting and you know what BTC – he said they said aetherium classic is a scam they had an actual press release actual blog post on their site the set a theorem plastic is a scam they don't want anything to do with it basically the personal responsibility was not their counterculture personal responsibility was not their thing they lost it they just made up a lot about it and so I tell this story it is the wild wild west so we're gonna talk about crypto lending in a second and again for all you people who think XYZ exchange is safe this is a exchange is safe it's safe up until the moment they don't give you your crypto dividend that you're entitled to it's it's safe from up until the moment death the insurance fund runs out after they've been hacked okay that's why you got to control your private key but again it shows you I showed you how much how is a wild wild west and how things have progressed to the last two years – and the funny thing is btc-e called aetherium classic a scam okay but here we stand today two years later who's around and who's not around okay there's no such thing as BTC – eg exchange anymore and it's its previous form at least a theorem classic is still what a theorem classic was that very day in 2016 pound that frickin like button for all you a theorem classic freaks out there who love it when I just say aetherium classic and no just because I said it doesn't mean have a baigan – don't don't don't misinterpret my my story there all right so Tour de Meester has a tweet out there about the rate the race for custody he says and he quotes or he retweeted a tweet from Bloomberg X actually it says exclusive goldman sachs and billionaire Novogratz are investing in crypto custodian bit go the tour goes all the say Bitcoin financialization requires turnkey solutions for institutions prime brokerage basically this is what's needed to see Bitcoin in the portfolio's of large hedge funds mutual funds endowments pension funds insurance companies etc alright so what I liked about this is that there are a lot of different organizations groups institutions that want to get into this custodial account type of thing to get the liquidity flowing into into this the financialization a Bitcoin into the new products that that people will be investing in that these traditional financial players will be guiding people into ok so this this process I'm glad there's competition I'm glad there's going to be multiple custodial accounts out there to make all the 80 percenters feel safe and not just 80 percentage but again people who used to have stocks and bonds oh I'm glad there's gonna be a competition again since there's more than just one it shows you but this is gonna be very big and just because it's very big doesn't mean you need to participate in it because if you want to buy a big coin just buy it you don't need goldman sachs to do it for you and hold it for you you don't need Wells Fargo to do it for you you can do it right now and beat them all to the punch before they drive up the freakin price in terms of Fiat but most of most people aren't for them they're gonna jump in afterwards when well when Wells Fargo allows them allows them to and they'll complain about how expensive it was when they should if they took personal responsibility right now they wouldn't have to worry about custodial counsel just learn how to use a trace or they could even buy the coin base right now keep it there but no they want to feel very safe through the traditional day they don't know what coin base is they know Wells Fargo they know that or the people that are doing backed at least you get the picture but I like that there is a tour reminds us that there's a race for custody a race the race is on I'm not participating in that race i won this race a long time ago when I took personal responsibility controls my moment but bought my big corn myself controlled my private key through it all the treasurer and the rest is history in Santiago Chile today okay so and then Baltimore then New Orleans then Los Angeles so please also I'll tell you tell you soon all right so uh you know I don't well okay so whatever else we might talking about the etherium classic flashback there that was great I hope you had enjoyed your flashback it's better than having like a drug-related flashback pal that frickin like what don't do drugs enjoy the real world dude watch my Saturday's show the beyond Bitcoin show if you wanna hear more about that type of thing about healthy living and beyond Bitcoin type of subjects alright remember 4 pm this week in Bitcoin tomorrow Friday all right special Bogart says long this is a long-term thinking this is where the big boys play type of a quote here turns out stability and reliable our highly valued features no one wants to risk sustained substantial value on a platform in a move fast and break things mentality taken further near ossification speaking of boredom maybe prerequisites for large-scale adoption innovation pushes to higher layers alright he's basically saying don't rush things Bitcoin yeah it's slow and boring that's what the big boys like that you're not gonna throw lots of value on something that's constantly changing it doesn't have stability and reliability again all these all coins can say that they're the fanciest things on earth that can change like this they are changing like this yeah big giant institutions and long-term thinking people aren't gonna invest value in things that can change suddenly or that can break suddenly that are unpredictable no and a lot of you just are never gonna get that for some reason you're never gonna get the way the 20 percenters think okay it doesn't have to be fancy schmancy ever-changing bells and whistles fancy sets and graphics it should be stable and rock and boring if you want to if you want to use that term i ossification their new your ossification so yeah and then the base will be stable then you can you could do the experimentation on the upper levels the second layer solutions you know lightning Network et cetera et cetera that can break lightning that work a break Bitcoin below will still be a rock it will not affect the main Bitcoin Thank You Spencer for that reminder Spencer is a wealthy man decide for yourself III don't I don't even know I know he's well alright so hey first responsibility is a new counterculture if you want to go with the ripple side of things go with the ripple side of things they can change things whenever they want to print as much as they want this their corporate right all right they're just when it all fails it's your fault you took that you made that move so don't sue Ripple you bought the ripple tour de Meester in my opinion the development this is about the developing Bitcoin slash crypto lending market will be one of the biggest stories of the next 24 months now Pete and Pete got it maybe he maybe his timeline might be a little fast there it might be it could be after 24 it could be ins but they're definitely I mean there's already crypto lending and Bitcoin lending I have said many times that you know in this wild wild west where BTC – you can say if you're in classic is a scam and steal all your theorem classic you know you're gonna if you're if you're messing with Bitcoin lending you're gonna get ripped off most likely okay but it might become more reliable or insured why you need to lend out your Bitcoin why do you need to get a loan in Bitcoin is beyond my understanding it isn't beyond it's beyond something like the insanity I would take part of it since it I understand its greed on the part of people or it's ignorant on the part of people to participate in something like that just control your on your part of your private key if you want interest if you want crypto dividends you'll get some Forks every once in a while okay go get some crypto given ins every once in a while if you're if you this interest loaning of it so here so I mean still he's got a point he didn't say it was gonna be a positive or a negative story it's just gonna be a story in the next 24 months which makes me think well immediately he gets a reply from this dude and all this is linked to below by the way so you can read yourselves this dude says it will become one of the biggest tales of woe in the sector I said well wrong when the biggest tales of woe in the sector I think I made the mistake once of getting a loan denominated in Bitcoin in August of 2013 ouch that was risky dude I bet you can guess what happened next oh yeah I can guess – I got rekt so hard i liquidated my 30 bit coin loan for business expenses around $150 per Bitcoin then the price ballooned over the next four months to over $1000 it ended up costing me 25,000 US dollars to pay back a $4,500 loan that's par the reasons part of the reason I went bankrupt in 2014 I give that guy credit for Sal is sharing his story I hope you all can learn about that you know you hear about all these crypto traders saying how good geniuses they are they made so much money up trotter and you have no idea if they're telling the truth or not you rarely hear stories about this about grown men with families who went bankrupt because they engaged in a crypto loan I mean that's all he did and that's all I mean it did something risky and he took personal responsibility hey that's I'm glad he shared that story our rafterman sent two dollars in the super chat strong self control be your own man yeah pal that freaking like button thank you our rafterman and that really sums it up don't be impulsive be a man do you just don't take personal responsibility it'll work out prepare preparation don't rush into things preparation we're gonna get into that in a second actually so speaking of risky year the controversial aspects of cryptocurrency there's a there's a new article from Casey Research and maybe things are about to get frothy again when you start to read articles like this oh yeah you know we heard a lot of wild tales during the during the boom times of all coins and whatnot but yeah duh and Doug Casey again he's been on my show before and when he was on my show this helmet in February of 2017 when he was on my show he wasn't a big crypto fan now he's got crypto dot suppose his crypto guys working for him and his case he's researched post things like this how to make a fortune in the gold back crypto revolution alright so there he goes it's all cyclical he's talking about a goal backed crypto coin again come on come on we've been through this before it's ridiculous that's crypto noise it's totally crypto noise it's to get people in it's a total catchphrase gold back trip the point if this dream that people say it's a centralized cryptocurrency no we don't leave that I mean there's no point why there should be a where I should've been a gold back it's to get gold people who are obsessed with gold a little bit more into crypto and again gold and holders are great the guys who used to hold gold and they they were patient and they understood it as a store of value and then they transition into Bitcoin knowing and it's gold 20 there's a better form of gold that's it's the new a real just an incredible store of value when we compared to gold – it's something that everyone can get into because there's a lot there you just can't move gold around and whatever but still there's all there's always these giving people that want to turn back the clock or just want to just have a gimmick and have these gold talk about bowl back trip the crystal I don't even know what Doug's dude is even talking about exactly here what's what latest insight he has on some gold back cryptocurrency it's crypto noise people but if you look at it from a positive aspect a crypto noise like this you usually hear only during frothy time so maybe – maybe for all you impatient people it's going sky high in terms of Fiat tomorrow I don't care what Bitcoin equals one Bitcoin palnet freaking like fun all right oh oh yeah okay so next thing about not being in a hurry this is this was actually retweeted by geeks who will be on the show tomorrow and it was tweeted by Morgan Housel are you sorry about Warren Buffett now I'm not pardon Warren Buffett on the pedestal here and by the way thank you for the one well someone said well maybe he took it back I don't know I said are somebody had set one euro if you're really setting one euro before you redacted it hey thank you if you if you redacted it out yeah maybe you needed the one euro whatever it's fine it's fine you can you could take battery one you but thanks if you sent the 1 euro it took your name away so I don't know who that was okay I think I know who was if I don't want to say it doesn't matter let's get back to the show that Warren Buffett lesson here it surely this is a quote supposedly Charlie and I always knew that we would become incredibly wealthy we were not in a hurry to get wealthy we knew it would happen Rick was just as smart as us but he was in a hurry so originally there was Warren Buffett Charlie Munger and some guy named Rick and uh they were all equivalent they were all smart guys and Rick was in a hurry and he did not become wealthy she did riskier things so this is just a reminder you you might be the smartest dude in the world but if you're in a hurry you're risking a dude take that slow and steady approach that you know Warren but that's one thing you can say about Warren Buffett he's no fan of Bitcoin but he was not in a hurry know that you guys with Bitcoin you will get wealthy you will think of it now could that start that mindset like he said they always knew they always knew they would be incredibly wealthy but one of them was in and when it was in a rush he was not patient and thus he did not he was in a hurry he did not become wealthy so no so you slowly accumulate that Bitcoin just by buying it don't go wild trying to get loans or loaning it out or trading all coins for it okay daddy's you're in a hurry and you're not it's not gonna end up to well it's you and you're not gonna end up wealthy that we just start with that mentality I am going to be incredibly wealthy I am going to be incredibly wealthy but I got it be patient I can't be in a hurry so that's the name of this show the one Bitcoin show let one Bitcoin be your first goal and then just keep moving it up too big from three book on ten Bitcoin 100 Bitcoin whatever it is just keep moving up and you just keep and eventually you're gonna be like oh get more I'm getting more and more my milestones and look it's 2025 and I'm waiting credibly wealthy well a time flew by and trust me dude it's time I spy I mean it just felt like yesterday was 2010 okay it now is almost 2020 it's just got a treasured life – you've got to enjoy life that's why I don't know how why people want to get away from life by drinking and and doing drugs and doing all these things that we can't really live your life you're living in a fantasy world with that and then you come down and you feel real bad I mean life is very precious very precious so enjoy it and treasure it and while your treasure it be patient and know you're going to succeed and you will if you're patient like like Warren Buffett was and was a Kevin Pham has a tweet out there Kevin damn he was on the show only this week a Bitcoin show before but if coin is a check on government people trying to get the two to work together don't get it POW meant like them dude I agree with that Kevin but yeah there's all sorts of coin saying yeah we work well with the government or II want to be alright there's all sorts of organizations to comply with every regulation they have no that's not that they're not supposed to get along they're not supposed to get along okay you're supposed uh you get into Bitcoin to get away you opt out of the dollar the welfare dollar system you opt-in the big point overlay 20% or gland okay and it did yeah they don't get along but both will continue to exist government and in Bitcoin 80 percenters and 20 percenters collectivists and individualists seek oh no that's I'll save that for another show what else do we have oh yeah you know what one thing that I like and and will conclude with this no we won't conclude with this there's one thing I know after this throughout the day I get sometimes guys from the chattier guys who send me emails guys who leave comments they'll send me a tweet the direct message we get into conversations and sometimes I'm just so impressed by that these dudes are these guys are through 20 percenters they gain knowledge from this show and I gained knowledge from them when we get into these conversations and they really understand the 20% or X aspect of Bitcoin be opted out of the mainstream the taking personal responsibility and just I love I love when I talk to these dudes during the day it really it just it just makes my hand that much stronger it makes me that much more eager to put out a new show every single day when I can get that kind of feedback from real people out there all over this freaking planet – it's guys in Australia in England the United States wherever that the Hat that share stories with me and I can see they really get it so when God went when I know that their fellow 20 percenters out there that really get it it's it's awesome it really uh gets me pumped strong hand brothers baby you're strong and brothers good all right and still says he's still alive unbelievably enough from after doing drinking so much and destroying his entire body through wrestling and alcohol abuse so what else do we have okay race oh yeah there's a twit there's a tether article didn't even read much of it it's a guy's theory he says tether der tether is exiting and nobody noticed he says they're great they're gracefully unwinding tether okay that would be great if it unwinds gracefully and there's no big fight explosion read the guys article if you care about that so I don't well we'll talk about Heather on Twitter on this week in Bitcoin tomorrow I'm dekimasu go this is how I'll conclude the show today it's about Bitcoin maximalism and we'll talk about that on tomorrow's show he's got an interesting take and Jack it was awesome he's building the show before a few times Mac Bitcoin maximalism also known as moderate common sense Bitcoin could succeed maybe is the middle of the spectrum actually the two extremes are no corner extremism Bitcoin cannot exist and Multi corner extremism Bitcoin is infinitely replicable and myclone is the best so he puts it in there he doesn't put Bitcoin maximalism at the extreme end of a spectrum as many people do he puts it right in the middle of a stale there between the no corners and the the coiners so that is a unique way of looking at the core nationalism hey Dad you learn something new every day you see a different perspective every day that's why I love my strong hand brothers out there pound that like button people quick click on their squares that you see up there right now bang that Bell button if you need to reminder when this goes live I'm Adam I should have a corner my friend disrupt might remember subscribe you sound like your shooters did you check out the nose section below I'll say how do you use in the super chat see ya
