Hello everyone this is adam meister the bitcoinmeister the disrupt meister welcome to the one bitcoin show today is October the 22nd 2018 strong and long-term thinking uncomfortable one bitcoin equals one Bitcoin alright we're just gonna jump right into this show because there's a lot to cover today there is a tweet out there by the guy that's in charge of finance I can't even I can't even pronounce his name correctly but he said he like me says nice institutional money will enter sooner or later just a matter of time so this dude's got a great perspective I could have just shared that as I said I but I say that kind of thing every day the stuff he added was very interesting what happens when a fund like Fidelity's allocates a mere 5% of their portfolio to crypto have you calculated how much that is right that little 5% is more than doubling almost triple the entire crypto market cap and some people are still worried about that I thought that all right and you know this is a great point if fidelity only put 5% of their their money into it it would make such a tremendous difference but remember fidelity is not the only institution that's going to be surging in the Bitcoin one of these days it's a matter of time so if fidelity he can double the value the market cap of all of cryptocurrency imagine with what all the others combined pouring in buying up all sorts of Bitcoin and creating all sorts of financial is just the tip of the financialization iceberg so I found that to be very positive and a very interesting way of looking at the fidelity story and perspective in all the stories that we hear in perspective of what they can do you know it sounds like just one name coming in with that you know there'll be a bunch of these names and they boat they all carry a huge amount of weight compared to the total market cap of cryptocurrency currently all right Peter McCormack has a tweet out there be cash is the tokenization of bit Maine and that is a Sampson mal quote now remember Sampson mal was on D this week at bitcoins show before you can check out all of this wicked Bitcoin shows at Tech ball T Tech ball comm Tec HP alt comm that is linked to below disrupt meister comm all of my archives are linked to below and of course follow me on twitter at Tech ball te CH B alt but going back to that freaking quote because you gotta pound that frickin like button people um be cash is the tokenization a bit mean yeah that's the interesting way of looking at it but how about this Mik I'm not taking it as a positive or a negative because we already know that it's somewhat we already know it's centralized we all know that all all coins are centralized and that be cash more so that baby I mean compared to Bitcoin they're all centralized so we know that B caches is centralized and in the end of the day if people like bit main and they're people ripping on bit me they're people saying good things about bit me it'd be caches the tokenization of bit name it bit me successfully pulls out off their IPO that will be good work that'll be good for a be cash that'll be good all the people will be pouring in the be cash because the bit main it bit means good then the bit main token will obviously be good too in the eyes of all the ridiculous all coin speculators who are looking for the next Bitcoin we all know that bitcoin is the next Bitcoin so we really don't need to worry about be cash is the tokenization of bit me we're really going we were just sitting back and watching with popcorn and I am and again I I hope be cash they're having difficulties internally they should have a four station of a crypto divot of the beat cash we've talked about that before and and as I said the way the the people the way this market works if something like beat a spur to split the total value of the two coins that we came out of it would be more than the previous value of be cash so you'll have fake Satoshi coin and then you'll have a bit meaning uh token alright so as I said although old videos are linked to below in this rotmeister calm and on Saturn Friday was a great this week at Bitcoin with Jeet Marty bent and Federico Tenga I recommend it highly disrupt meister calm now has 1100 of my videos on it okay I've been involved with at least eleven hundred crypto related videos in my day the latest as well as this video that I'm doing right now but crush the street just interviewed me and that is linked to below and you can also see that disrupt meister calm that was a a good time pound that frickin like bomb and I also got to say pound that frickin like button on the cross the street if spoiler alert there I always try to say whatever show online if son has got thrown in there at the last second so in crypto dividend news be rhodium is live yes I linked to the be rhodium press release below and of course many moons ago some of us signed up for the be rhodium airdrop if we had Bitcoin and now it's live and here's a quote the big the be rhodium main net was launched this weekend once 2016 once 2016 blocks have been mine which likely will take place roughly in two weeks be rhodium will be list on a major crypto currency exchange where it can be traded for and from Bitcoin okay so that last part is the that's what I know a lot of you care about okay because you signed up for this you value Ralph in Bitcoin you're like great I got this B rhodium airdrop let it do whatever it's gonna do I want to be able to exchange it for Bitcoin well they're saying we got about two weeks so let's see them say what exchange it is but let's see it's live most of you care about it being live on exchange so that's coming also Andy Hoffman interview some of the dunes behind that today I link to that below so check that out of course Andy don't steam it also he posted that on steam it ivory I yeah it's it's linked to below buddy-boy the video itself is linked to below re david paul who like andy hoffman and samson now have been on this week in Bitcoin show which you can watch at Tech ball comm he's got any interesting tweet out there that goodwill over the first many bitcoiners view Bitcoin as there as very serious world changing politics and as a more mature project with more to lose that must overcome serious threats and challenges this naturally produces a harder edge than communities that view their project as a more as more of a tech experiment okay so he's trying to say that you know sometimes you encounter some of these bitcoiners on social media and they are really serious dudes and they can snap they can have an edge and the reason is is because they know that bitcoin has changed in the world this is some serious well I can't say that word here because it's a family channel but it's a serious thing there and this is this is earth changing life-changing type of stuff for them and it's in there serious threats against it but it's at the tip of the spear okay in terms of cryptocurrency was the government if if you think and I'm not a person who really thinks it's then that governments are gonna go viciously out of their way to stop cryptocurrency well bitcoin is the one they're aiming at now again I think the way that drug governments will try to stop cryptocurrencies they're just gonna make their own cryptocurrencies good for them let them make their all coins actually let them fork off of big point let them make government uh well then let them make government crypto dividends a Bitcoin and so I'll get there free government I'll get free Japan coin or something like that free Singapore coin take it easy for me I'm not framed I don't have that mentality that some of these and I can understand why some of these guys take it super duper seriously and they got to be in fighting mode all the time but for me I'm very confident and I do believe Bitcoin is changing the whole freaking world it's gonna be bigger than the internet and we're gonna get it we're gonna talk about the story in Kenya on a small scale how the powers already changing someone's life there in a second but yeah I I do understand I do see why uh you know some of these dudes are a little cranky here anyway check out the link below I I keep a very positive spin on anything I know bitcoin is the next Bitcoin it will it is the winner it will win and you know governments can do whatever the heck they want anyone can threaten it it doesn't matter it gets stronger okay a person from Baltimore actually sent me this BBC article bat and that's just that's interesting a person I knew from my Baltimore days from dealing with reservoir read real estate stuff the bio box I'm saying all this personal information without me doubt so what I knew from about Baltimore just to set me a Bitcoin because this person has become a little interested in Bitcoin I give this lady some credit that's this great and she sent me a story from Kenya from the BBC that there is a woman in Kenya who has a restaurant that serves goat meat delicious goat meat in Kenya and she accepts – and Bitcoin and I know all the – people are happy about that because they're trying that's what they want they want their cryptic Percy being transacted in every freaking country well if you're in some remote location in Kenya you're doing pretty well that's great for you but it turns a big point she was Bitcoin trading which of course I do not recommend she a quiet she's got some Bitcoin it has changed her life it allowed her to get this restaurant and she says not many people have used crypto yet at her restaurant but she's teaching people – so big coin has made this woman in a very impoverished nation it has made her elite compared to her neighbors in terms of wealth she was able to open up her own business because of acquiring Bitcoin and anyone can you know anyone with a computer it with internet access and there's a lot of places that are in developing nations that aren't in great shape that you can have internet access if they just slowly start to acquire it they will be easily compared to their neighbors who are valuing their wealth in the local currency or just can't can't can't save this woman saved her Bitcoin that she acquired and she she used it to better her life to open a restaurant but they at the same time she's she held some of it and now she's teaching other people to improve their lives – so it's a good story and there's no excuses out there people if a lady in a remote area of Kenya can acquire a Bitcoin then yeah you should you should be able to do do so awesome and with a coin based story here and I mentioned this last week and I'm not even going to get into it the 0ex coin that they list now on the Bitcoin on the coin based trading platform there's an article that I linked to below that buy the block crypto comm that that talks about the ties that bind point base and these zero acts people it seems shady but this is this is the type of thing you accept you expect in the wild wild west of crypto I mean if you've got connections with a coin and you've got in exchange you're probably going to favor that coin and if your coin base and you're following all the rules and you got the connections then you're gonna be able to pull it off I mean coin there have been accusations of insider trading at coin based before they're gonna be those again coin base is a most favored exchange move favor exchange status with the United States government they follow all the gun the us
has rules so they can they can do these little things and yes if you're on point base and you buy their and you sell their they're telling the IRS that's what you signed up for it but hey you got your big point and we're gonna talk about the IRS in a second actually but beforehand let's talk about Argentina Bitcoin ization doesn't sound so crazy when applied the countries like Argentina says toward the Meester and this is linked to below property transactions in Argentina continue to be cash settled and prop probably one of the most terrifying things for a law-abiding citizen to be a part of yeah that is pretty I wouldn't want to buy a property with a bunch of freaking cash and that just shows you that it's come to that in Argentina and that Bitcoin would solve that issue does solve that issue if if you can't rely on a bank to settle your transaction like we do in the United States when we go to closing there's a bank involved or multiple facts about whatever there's money being wired Argentina obviously they can't do that anymore for some reason I won't get into all the reasons so Bitcoin solves that and that's why bitcoin is Asian doesn't sound so crazy when applied at countries like Argentina where you can see where the smart people will just be using Bitcoin for every single to every type of transaction especially the major ones I mean for Bitcoin ization would be you'd be using Bitcoin for every you know to buy stuff in stores you know buy your coffee and all that but one step at a time the situation situations like this in Argentina exist in many other countries too so take a note people slowly but surely this is there are use cases out there really scary use games so the great Jim Piper this dude he took someone's idea from the comment section that I said someone should do and make a bitcoinmeister spoof show and he made a show called the ICO Meister's only four minutes I'd link to it below it is hilarious you know he's he's me but he's the ICO Meister his hair is down he's wearing a suit there's a fancy setting graphics in the background he's saying to you know spend your crypto don't save your Bitcoin he's saying I SEOs are all some it is hilarious you gotta check it out you got and of course I've recreated that on tech ball tch be alt and remember I do post a new show here every single freaking day dude you get it where else you'll get a new show every day original content not the stuff not that stuff that the mindless crypto media puts out there that misquote Spinney lingham that was disgraceful yesterday well actually and he's speaking of vinny lingham he retweeted this up by the crypto gram and as a quote of his I would tax crypto transactions at source eg when you buy Bitcoin taxi transactions the transaction by 5% rather than trying to tax profits suggesting courtesy of any linking up okay people so before you go crazy let's let's look at that suggestion let's look at that suggesting in straight now you you buy Bitcoin okay you buy a big point and then when you sell it you have your tact at least the United States I'm talking us here your tax on your profits okay your tax on your profits according to you know how much money you make and how and if it was short-term or long-term capital gains okay yeah you know that's that's a pain you got to calculate it yeah keep records it's a pain so again and if you're buying from coin base and everything which most people are you should have to pay your taxes eventually so I'm talking in a country where you're going to have pay taxes on it at some point I don't think you should have to pay taxes on it I don't think that but I am living in the United States I bought it from coinbase that's what I signed up for that's personal responsibilities in new counterculture so this is what I'm thinking wouldn't it just be easier if when you buy it for coinbase if you spent $100,000 on crypto from coinbase right then and there you pay $5,000 taxes and that's it that's it that's the end you don't pay taxes on it ever again if you're gonna have to pay taxes I kind of like that scenario more than the current scenario now then there are people who say what happended a traders that buy it constantly over who they'd have to figure out some with that okay this is this is like a preliminary idea here and again you shouldn't be doing that anyway maybe there'll be a different tax paradigm for them I guess under this under this scenario but but I do I find it interesting and of course this would offer it if this system were to start let's say in six months then the people who bought it and never solve it they would just they would get a a holiday I guess they they would never have to pay taxes on it so yeah it would benefit me greatly wouldn't it as a holder if that word scenario 2 but again I'm not just doing this for me I'm not just saying I've seen he's for future me too let's say I want to buy a hundred thousand dollars more one day and yeah that I would rather just pay the taxes right up front and having to worry one day you know when it's a million dollars to do the whole calculation okay sorry baby nine hundred thousand dollar profit now I got to pay twenty percent of mine is no good you gonna pay more anyway so interesting suits interesting suggestion there by Vinnie lingham I doubt it is implemented in the United States but perhaps some other country will take that approach because there's a lot of ambiguity out there and a lot of different countries it's not very well defined and this gets them you know their short-term thinkers anyway countries why don't just get the money right away why not just get the the tax revenue right away instead of having to hunt down instead of having to wait longer and you probably get more but you also have to hunt the people down and okay so treszura has an announcement again I think I hope I link to this below let me read it trace or wallet expands its feature set exchange directly within the interface you won't need to look for in exchange anymore it is in your treasure or wallet now I thought they actually said this a few weeks ago and I posted something so I don't know what the difference is now basically you could turn your light coin in the Bitcoin that you're storing on your treasurer it can do it for you now okay I don't I mean art duh I have no interest in turning my Bitcoin into all coins but hey you can do that on your Tresor know that there's the announcement I better have link to that below if I didn't I'll add that after the show so you can explore that further just another reason to keep your crypto on your trays or I guess okay vortex has a tweet out there and I don't agree with a hundred percent of the dogs but I think is a good tweet though okay okay some people complain that bitcoin is not ready for people earning under $2 a day what these people don't understand is that bitcoin is here to compete slash provide exit from the systems that cause the conditions that result in people earning only $2 a day in the first place okay now I'm I don't I'm not going to agree with that their systems causing people to earn only $2 a day okay people it's personal responsibility people aren't in $2 a day they they could leave their countries they could get into other situations there's ways there ways out of it the systems aren't helping people are much more than $2 a day but it it doesn't it doesn't do Oh not sir systems of Doom everyone under them to earn under $2 day ok but the main core point that he's trying to make here is that no it's it's it's to get people out of the old paradigm okay it's to get people and it is their way of taking personal responsibility getting into this Bitcoin overlay and that's what that woman in Kenya did she was living in a country where probably playing – people make under $2 a day and it did Bitcoin was her exit from that 80 percenter way of life in those countries the way the mainstream does things so now there is an op there's a whole nother system a whole other overlay I say that now exists so easy is it red is Bitcoin ready for people earning under $2 a day well night if they slowly start to buy it heck it will get them out of that paradigm which is great so again some people who complain the bitcoin is not ready is that yet ready for people earning under $2 a day what these people don't understand is that bitcoin is here to compete provide and exit from the systems that cause the conditions that result in people earning only $2 a day in the first place all right now speaking about wadies not too out out of your 80 percenter system makes people like buy a bag of millions take it back no don't buy a Mega Millions ticket that's insane you if you're talking about the Mega Millions jackpot what you should do is gather up that ten bucks and buy yourself a bit some Bitcoin okay because this is the thing you buy a $10 worth of Mega Millions tickets you're gonna end up with nothing you buy $10 worth of Bitcoin you're gonna end up with something you're in there with $10 it's a Bitcoin and then in the long run what is that going to turn into and what positive habits is that starting up for you right there you know you buy $10 this when you buy ten die instead of buying $10 a lottery tickets when you start buying $10 with a Bitcoin every week you're never going to win that lottery with Bitcoin you're going to keep on getting something and that's something in terms of Fiat will be worth more in the future but your the main thing is your values or no value or wealth in Bitcoin not in frivolous frivolous dreams of getting more Fiat that you're not going to be able to get and you're not going to be funding the government machine anymore because again what you get from buying lottery tickets is you are giving away your money to the government I mean that is just so I mean it's a back as shameful it's embarrassing you're just like yeah yeah government I know you say I have a chance of winning a lot of money so I'm gonna give you more of my hard-earned money no instead of playing that fiat game instead of being involved with the welfare dollar opt out and off in to the one big point equals one big point world i'm adam meister the bitcoinmeister the disrupt meister remember to subscribe his channel like this video share this video check out the links section below I will say hi to everyone in the chat bye
