Hello everyone this is adam meister the bitcoinmeister the disrupt meister welcome to the one bitcoin show today is May the 8th 2019 strong hand offended by selling value your wealth in Bitcoin on confiscate able I'm not going anywhere personal responsibility is a new counterculture no fancy says for graphics here people you can check out sports meister calm by the way if you want to your the podcast version if you really don't care about fancy sets or graphics check out all the links below and follow me on twitter at Tech ball te CH be alt I do a new show here every day and on Friday is this week in Bitcoin we have a very special this week in Bitcoin at 1 pm
Baltimore time on Friday that is 6 pm in London where Simon Dixon is in England of course in Simon Dixon will be joining me he'll be the only guest on Friday's show there have been a lot of current events in the last two weeks and I'm sure a lot of people want a year assignments opinions on Finance and tether and and all the Fiat freaky stuff out there and we're gonna talk a little Fiat freaked right tonight by the way if you have questions people I'm doing questions and answers you just type in bitcoinmeister in the chat and I will see it and then I will answer your question at some point during the show I I'll check over there but let's let's talk about finance real quick Matt and the hack Matt Adele has a tweet that sums it up very nicely the reason Bitcoin was stolen from by Nance and not any of the hundreds of alt coins I'm not saying where do they use they also offer is precisely because those change are those chains are easy to rollback or freeze while Bitcoin is not found that like button and that leads into the discussion that the guy in charge of Finance what does this easy his name is started on Twitter and he made it see he said that he he thought it might be a good eye some people suggested it might be a good idea to roll back the Bitcoin blockchain and just erase the hack like this is a nice like like this can be done like this is aetherium oops you see that's the thing back in 2016 there was a hack the DAO hack on aetherium they rolled it back and then a theorem classic was basically born I'm not gonna get into the story but not everyone thought they should roll it back same thing would happen here to say the least it's you know when you're building the new gold when you're building such an incredible financial revolution you just don't bail people out okay that ruins the value of the chain that ruins the trust right there and so no one in their right mind would eat 7,000 Bitcoin who cares you got robbed dude you said you you said that you have a backup and that you're able to bail yourself out i I think deposit still might be closed there or withdrawals still might be closed over there I have no idea I'm not a traitor and never use SLA in my life um but hey if you're telling the truth cz then that's it this is where the big boys play there are no roll backs there are no bail outs and you lost some money you'll improve your security maybe I mean all of these places are going to get hacked that's the business you're in maybe you'll print some more of your your tokens or whatever I people seem to like you a lot so they they're just tossing money at you anyway but no you he made it seem like that this is some centralized centralized it's like he doesn't understand that like he can't make a price there's no centralized King here you just can't make a proclamation oh let's have a rollback there's it just doesn't happen like that there's no centralized King there's no your name is not metallic or anything like that after spitting this what he said after speaking with various parties including and he mentions some people including Rocket Man Wu and others we decided not to pursue the reorg approach oh well thank you for not pursuing that dude III don't know it's uh it started a lot of conversations on Twitter at least today and pointed out the reality that Matt Odell tweet pointed out in the tweet that I previously read that uh yet the other ones can be rolled back the other ones can be shut down can be stopped that's not Bitcoin that's not why people are into this thing if Bitcoin could be rolled back then I'd be out of here it would just it would have no value and thus there would be no more cryptocurrency okay and yeah it's as simple as that I mean and here here we go if he was what he could do what he could do and make any he probably lost the opportunity to do this he could say you know what I want to have a Bitcoin wear that hat never happened so I'm just gonna fork off and create my by Nance Bitcoin Finance BTC and you know what he probably and he could salad on Finance it's the biggest one of the largest exchanges out there and he there'd be something caught up BTC by Nance I guess be by Nance we would call it he's welcome to do that still I think he missed his opportunity there um but you can you can still do it if you don't like that that that hack happened you can make your own Bitcoin then the only difference is is that that had never happened it's it it's a race those coins you still have those coins why not try it out try it out see it Hey and you know and again I mean again he could saying if he once you said he wants to say he said some wet pretty wack things and people were talking about a people people are pointing out how wacky they are and how it would destroy all value of Bitcoin but all right we've got already we've got some questions here and one of them was from Hass McCook who is great he's been only this week in Bitcoin show at least twice and he was recently on UK Bitcoin master show check out that channel at this point what price would you consider being a dip fifty five hundred five thousand lower well I mean in terms of by the in terms of by the dip dude always by its what's it right now it's a six thousand fifty three dollars right now in my head that's a dip because in the future well first of all Bitcoin always has come back to its all-time highs was the all-time I you feel shrieks 19,600 so right now this is the dip this is the body the dip if you're waiting to buy the dip why what's the difference between fifty five hundred and six thousand when compared to 19,600 what's the difference there's not much with it there's no difference in the long term do I regret I remember back in the day I I was I was I mean I tone-tone didn't make me do this tone was talking about it's gonna go down to again this is in 2016 or something like that it's gonna go down to seven hundred seventy or something like that and I was just waiting for it to get to seven hundred seventy honor or whatever the number was was either 557 something like that and I was just waiting for it and I learned my lesson because it lake dot down the 778 or like eight dollars more on coinbase and I was like well I'll just wait until it gets to and it never got down to that number I never bought it I was gonna buy like five more or something like that or ten more and that's the thing when I'm now I look back and I laugh my butt off at myself I learned my lesson if I was if I was I didn't want to buy at 780 but I was willing to buy it seven seventy how silly is that how ridiculous is that totally my fault totally my thought and that's why you cannot get too caught up in these traders and these charts again that was it was totally my fault for for like say well it's gonna go down to some somebody never get it was this stick stuck at somebody or whatever it was that I forgot I was 570 fire or seven suddenly whatever one of those things but but there you go has there is a the dip is now this is you get it now you buy at 6,000 because there's in when it's worth twenty thousand there's no difference between you know 6000 buying it at 5500 really and in the way and you got to consider the way future I'm talking about I'm comparing it to the all-time high that we are familiar with how about the all-time high we're unfamiliar with that you know in 2021 or 2024 whenever that maybe you'll even you'll laugh even harder that you're worried about you know the difference between five thousand fifty five hundred and six thousand so yeah the dip the dip is now yeah so Robert Krause says bitcoinmeister question have you read Plan B's article on the stock the flow what is your take on the stock the flow as a valuation metric I love to see if Bitcoin surpasses gold once stock the flow is greater that I I've skimmed over the article looked at the charts and everything I haven't got to study it in depth that much the guy is great though I mean it's it's some good numerical analysis okay and it complicates matters it comes I like to keep it real simple the ho my my my theory is a lot simpler okay the every every two hundred ten thousand blocks it's worth more and that's a you know if two hundred ten thousand blocks from now it's gonna be worth more in in terms of Fiat so that that that's I can't examine a Lass's of the entire article right now if I had it in front of me I guess I mean I could do a review of it one of these days but I haven't read the whole thing it's good it's it's there's some good information out there but I keep it simpler for everybody on the channel and everything and I think sometimes it gets I think smart people get bored sometimes they they want to understand it in such an in-depth way that I mean it's it's it's it's good reassurance articles like that you know when someone can technically mathematically explain it like that all right Roman says since December of 2018 Fiat hot whoa what happened there since December 2018 Fiat has entered a savage bear market with the dollar losing half its its value when denominated in Bitcoin the bottom is definitely not in for Fiat very good very good take on that Roman very very very good tape combat like button everyone and Jim says Adam you are a service the Bitcoin thank you Jim thank you for the dollar 99 man all right back to the regular regularly scheduled program okay yeah we talked about CZ & get pudding CZ on a pedestal i mean this kind of plate he actually got more people to put him onto a pedestal o CZ said this thing but there are some 80 percenters out there like well if he said it could be rolled back it could be rolled back he's very smart it makes it seem like he's bigger than he really there is no king a bitcoin there is no dictator of bitcoin if you want that you can go to some of these all coins bottom oh here we go in here in Baltimore where I'm gonna be leaving Baltimore on Saturday I'll be in Los Angeles for over a month but my hometown of Baltimore ransomware attack disables Baltimore City government computers spares essential services apparently they had to send a lot of people home but yet the city was still functioning which shows you that basically all government workers are useless in Baltimore City but they I believe they were asked for Bitcoin and they refused to give in and pay the ransom I don't know the update if the computers have been freed yet but it just it goes to show you and it goes to show you the bit that Baltimore never bought you know there were some organizations awhile back started to buy Bitcoin just in case they had to pay off ransom where people but clearly Baltimore never did that which is not a shock there they're not into insurance or anything like that they're not in the long-term planning right trust me trust that trust me you're there they're into selling haul healthy Holly books to tell Matt like button so anyway no no so these ransomware attacks will become much more a common and other cities will experience them in other institutions well so it's a sign of time and again it's uh these hackers they they want the real thing and apparently it was big from what I've heard it was they asked for Bitcoin it mentions it in the article briefly I went to the article below alright alright so this is the Fiat freed part of the show Fiat freaked part of this the show and that is that right and I said I said the number before but Bitcoin for the year is hit a all-time high for the year in terms of Fiat it's six thousand fifty dollars right now and we can remember back in November it was also six thousand dollars but a dent it wasn't six thousand dollars for six months at people panicked dudes it took less than six months it took less than six months were you one of the people that were gotta get get a get out now gotta get out now it's going down the 1500's going down to a thousand whatever gotta get what was the point of getting out what was the point of gets it really I mean what was the point you you you paid the government some taxes you got audited I don't know I mean what was what was a real point if you I mean you obviously dye your wealth and Fiat I I mean I've been saying it all along like value one Bitcoin he goes one BIC with a Bitcoin I had more Bitcoin than I did in November okay I had one I don't care where the darn but yet the price of Bitcoin is the same in terms of Fiat I so that everybody didn't sell a darn thing I didn't sell a door in Bitcoin I mean that's that's the mindset I advise everyone have and if you look back it's less than six months it's less than six months of patience and not being impulsive how hard is that really really how difficult is that for me it's easy as clearly it's easy as anything but now just a little bit take a step back and think about it think about it that easy it's back to where again it'll probably go below 6,000 again but it's back for some people never go that high again never to always never never never stuff never gonna return to the altar never this never that it's just a matter of time you just have to be patient and that's I and that's something I think everyone can understand you were talking about the stock the flow article and that plan B dude who writes some complex analysis and everything I like to keep I like to say things that I think everyone can understand don't be impulsive just just be patient and it does come back there they're bumps in the road this is not this is a new technology a new financial mechanism each a while it's been a roller coaster I've owned it since 2013 I've seen it all I've seen many a hat just like we're talking about the by Nance hack you just gotta roll with the punches and you don't panic cuz anytime I'm you panic when you're impulsive you're gonna make a big mistake a big big mistake that's where the mistakes happen when you do nothing when you just have a strong hand you you really minim nothing if there's no mistake you don't you're not gonna you're not gonna do something wrong okay so there you go this sick less than six months okay less than six money went below six thousand when I went below the Hoffman line but ever you want to call fifteen hundred and everyone's shit oh but why the three thousand eight go to three thousand it did oh woe is me well it's gonna go to 1,500 don't twelve fights over no look six months six months that's all don't be impulsive deferral deferral did you defer gratification for six months can you do that alright is America so lost is the Western world so lost that the 80 percenters can't defer gratification for six months actually yeah 80 percenters cancer for an appreciation for six months what am I saying that's why they're 80 percenters and 80 percentage are gonna do way eighty percent are gonna do they are not members of the 21 million club I was reminded of the 21 million club there's only ever gonna be 21 million Bitcoin so if you own one Bitcoin and that's the name of the show the one Bitcoin show you're a member of the 21 million club as as many people put it and I just wanted to toss that out there because some commenter actually was saying to me that he was proud that now being the 21 million club and dude that is awesome you should try to be in the two point 1 million clubbing and get and get 10 Bitcoin or the the 210 thousand club and get a hundred Bitcoin aim high dude and we were talking about Twitter a lot today there's a Twitter feed you should follow I'll link to it below did Bitcoin die it's called and and most of the time the guy just tweets out again his name is did Bitcoin die most of the time his tweets are no and then there's nothing no it just keeps on saying no that's all it says no and you know what daddy's that you get more information from his tweets then the 80 percenters the altcoin tweeters that is they're saying that their uh their ICO is the next big thing know that that guy did Bitcoin die he there's a question there did it die and he says no and that's more informative right there than most of the stuff you're gonna get from the 80 percenters from the no coiners from the thud stirs and all that stuff so he says some others there are some other tweets in there – that's a funny account definitely definitely today did Bitcoin no it's not dying it doesn't die that that's I think everything kind of boils down to that deep ache point I and and we're gonna get to some FUD that involves that in a second now going back to by now something I forgot you bring up yeah I guess yeah well that's been pointed out to me if their bailout really works their self bailout if they're able to maintain business as usual because again I don't know if they've opened or if they've allowed the posits and which roles yet but if if all the users there if all the people that were keeping cryptocurrency on by Nance if they lose nothing then no lesson was learned no lesson was learned for those those people they're gonna keep on keeping their money on by Nance if it's business as usual if they're if they're allowed to so yeah that's uh I mean I'm glad but finance can pay for their own mistakes but it is unfortunate they're gonna be people they're like well look I was safely able to keep all of my cryptocurrency owned by Nance through a major hack through a hack of 7,000 Bitcoin hey that means I can keep my crypto anywhere I can keep it on any exchange I can keep it on back no that's not we should be taking away from this but a lot of people are gonna take away that from this if they from this situation if if the bailout is if finances self bailout is successful which either which according to them it has been again maybe someone out there can in the comment session can tell me if they've enabled withdrawals and deposits yet because that that'll be the the true sign that you know it's business as usual yeah if if all of a sudden you can't get your your coin off a by dance then maybe they weren't able to bail themselves out in the way they said they were gonna be able to and maybe that's why he's proposing roll backs and stuff a question yesterday that I thought about after the show someone said it's are we going to ever be able to truly figure out the circulating supply of Bitcoin the the Bitcoin that we're gonna be able to figure out what's been lost and what what bitcoin is still available to real people the the private keys that are you know it was some some private keys are lost that's it it's over there's Bitcoin aren't coming back and I said that maybe the way you were to get close to it one day but probably not but then I thought of an Andreas Antonopoulos video that I mentioned a few weeks ago and he said if there's ever quantum computing if there's ever quantum computing that Bitcoin will be able to deal with it but people will probably have to move their Bitcoin from their pre quantum computing Bitcoin addresses to quantum computing resistant addresses and thus everyone who's aware and awake will do that and move their Bitcoin to the quantum computing resistant addresses and after a while when quantum computing gets better all the progress is that people never move their Bitcoin from the old old style dresses will get hacked by quantum computers so if that actually if that all that happens then we actually will be able to figure out how many alive addresses there are because they'll be all the ones that move from to the quantum computing resistant addresses and then yeah so that that's a that's a different take on that that I thought about hey man a lot of big corner lost how about that look look less well I think and it's good I like that there are a lot of Bitcoin that are lost either the the fewer the Bitcoin out there the better the again I'm a I'm a deflationary kind of guy people and uh you know keep on losing on people like good good people you know do the right thing and in safely guard your Bitcoin how about that and then you know the numbers go down naturally the numbers go down naturally in terms of how many we end up with in the future so one thing that keeps don't get attacked again outside of my uh my Bitcoin videos that I make and I watch and all my reading that I do there's other stuff that comes into my life through YouTube semi politically related and what what not just current events stuff you can't help but watch it sometimes don't waste too much time or in it but people were complaining about the D platforming again okay we got the what is his name that the Irish guy computing forever talking about how the government needs to make these rules and he specifically says that he's so panic-stricken he's so panic-stricken that he's like even with that he will he says that eventually that all money is gonna be digitized and that that your country will be able to turn you off and not allow you to use your bank account and he says even even Bitcoin you see he says with Bitcoin at the they're trying to get rid of decentralized exchanges first of all they'll always be somewhat of decentralized exchanges out there that I don't know why he discounts that innovation that that he thinks the government will be able to get to like get rid of everything that's bisque or better but he says that the the Bitcoin exchanges are centralized thus you won't be able to turn your Bitcoin in the Fiat there because you'll be blacklisted and but but he and and that might be true that exchanges there might be blacklist of people if they're able to figure out who you are when you're you're going to these exchanges selling your Bitcoin the Fiat yeah you might not be able to get your Fiat that is true that is true but he he's wrong to worry about that because once you're in Bitcoin you can just make your transactions with you don't need to get back to the Fiat that's what he's missing there in his video which I link to below what why worry about that why worry about that just get it he said he's he's like this row as me dude there's nothing we can do he's absolutely wrong about that there's nothing we can do you get you create your own web pages you list a Bitcoin address on there people support you that way and then you have Bitcoin you can buy stock with Bitcoin wherever you go if you're in a country that's not friendly for bitcoins leave the darn country okay with your stash a Bitcoin start a new in a new country I mean life isn't easy like things just aren't handed to you okay and I think a lot of people are spoiled they're like well this YouTube platform this Twitter platform they're so great they're giving me distribution and then all sudden you're not being distributed by them anymore you're not getting the network effect of these platforms anymore well they weren't your platforms in the first place you should have thought about that beforehand that yeah these guys can censor you and to run to the government to say hey platform that I've been using that's been distributing me that's been great to me until now make them keep on being great to me no that's just that's not the way it works in the big-boy world okay you got to be prepared for this kind of stuff and and that's why you're getting the Bitcoin because they can't take away your Bitcoin they can't it's it's it's not it's not centralized it's you can't be turned off from Bitcoin once you get it it's yours okay everything else you can be kicked off you can't be kicked out of Bitcoin you can be the most vicious hater in the world but if you're a if you can list your address somewhere people can support you it's tough luck for all the people who hate you and you can continue living and and being successful I guess in in whatever you do so yeah I'm tired of all the people that are obsessed with the platforming their obsessions should just leave them the big coin instead of complaining and complaining and complaining and saying government you've got to fix this no you can fix it yourself already get into the Bitcoin overlay and you won't have to worry about relying on these platforms anymore that you've relied way too much on okay if you're going to this these lengths okay and you can start your own platform you can start your own circles of Bitcoin related people and no one can stop you no one can stop that okay no one can stop those those Network effects but you got to be able to work you got to be able to be nimble and move and just not be stuck saying I'm here on Facebook I'm here on YouTube this is the way it's going to be forever and it's unfair if they kicked me out no that's not that that's not the attitude to have the attitude to have is I'm in the Bitcoin overlay I get I'm getting my support from people through on a value my wealth to Bitcoin my bank is Bitcoin and backed America can't shut me down Wells Fargo isn't gonna censor me YouTube isn't gonna sense for me that's it and I have my Bitcoin related people who support me and maybe we start our own Bitcoin YouTube or whatever there's there's so many possibilities out there but running to the government and say create a new law or enforce a law a different way it's just you're playing into their hands you're you're making Twitter the government and Facebook and YouTube even more powerful get away from those platforms deep platform them I mean you're saying they're deep platforming you know think about the opposite there's a positive spin on and everything ok so I and again he tried to fund Bitcoin like like the guy even he tried to make it seem like he even Bitcoin isn't the answer even the God the government is so all-powerful that they limit you with coin – no they don't they limit you – with Bitcoin in theory if you value your wealth in fiat okay if you need to for some reason if you need to change your Bitcoin in the Fiat but you shouldn't need to do that you shouldn't you shouldn't need that you should figure out the situation where you don't need to do that all right so enough of that again but I mean it's gonna come up again and again and for me I think the frustration and maybe some of you guys can sense sense it is that I just wish these guys would stop relying on the government so much and have my attitude and be like okay this is opportunity everybody this there's this thing called Bitcoin out there here's what it is here's how it's gonna save us let's stop complaining and waiting on some bureaucracy to save solve our problems this Bitcoin thing is the answer right here and it just seems like some of them are so close to it and they're just like kind of running around in a circle around it but it will happen one day I need to be patient we all need to be patient and we're already on the right but if you're watching this video and you're already valued wealth in Bitcoin you're already on the right track you're already here I mean you've already won okay I'm just thinking about all the III want more people to win because the more people to win the better it is for all of us who've already won all right Roman Q says do you think we have another contentious soft fork or do you think consensus will be easier to maintain going forward we never had a contentious soft fork we did that contentious hard fork I mean that the soft works I mean they they went through I mean that well segment was a soft fork said what was a soft work and yeah I guess that was a contentious so you can say thus be cash the be cash people said we're starting our own coin so yeah I mean there might be some there might be some soft work in the future where some people are like we're just gonna start our own coin just like be cash did yeah so I guess I guess there will be doesn't matter I mean you can see that the attitude I take toward that is I I think that'll be awesome actually there if people want to make more crypto dividends that's great just because they don't agree with a direction that the bitcoins going in so I I know I don't see it as and something that worried about it at all day and I don't know how much more Bitcoin is going to change in in the future where people will I think that the arguments will be more from people saying we want this change thus were forking off not Bitcoin is making this minor change we are going to fork off I see I see more of of course I mean all the the great majority of the future Forks that are surrounding an issue will be because Bitcoin refuses to change and they want to change it in sand and good luck to them they want to have a forty one a forty two million Bitcoin go go do your thing um all right let me see if there other questions yeah and Roman said segment before I said segue so yeah or where maybe I didn't see it all right uh let's uh move on here uh-oh here's the fun clickbait article and this was spreading all over twitter and people were just blindly retweeting it blindly reposting it Vox this mainstream publication for hipsters or something I don't know um they had this title a total clickbait title if Bitcoin is so safe why does it keep getting hacked that that was the real title first of all pound that like but if Bitcoin is so safe why does it keep getting hacked that doesn't save shame and then it says thieves have stolen millions of dollars in Bitcoin from exchanges here's why it keeps happening well dude that that's two different things there okay wait you're using this clickbait title and then all these other people are just repeating it blindly to make it appear on social media that bitcoin has been hacked and thus some people well I mean in like five weeks probably someone I'll be talking to someone who knows very little about it and they'll be like yeah I heard it got hacked again it's because of titles like this and that's sad it's sad because he keeps people away from Bitcoin he keeps people away from valuing their wealth and Bitcoin it keeps people from I mean these people hooked to the the welfare Fiat dollar where they're not getting wealthier okay and that's that's unfortunate but and I and I hope to god that the people who came up with this vid this clickbait title I hope they never buy Bitcoin I hope I hope they continue to live off the welfare dollar and enjoy its benefits and not Bitcoin if they if they'd like to create lovely titles if Bitcoin is so safe why does it keep getting half so there are a few people on Twitter though that were like is this type of title still real is this still a thing in 2019 do these people still not get it I can they get it actually I think the people I box definitely get it I think they're so desperate for clicks that they just they just had to make a title like that I think they understand that he can't get hacked but they they they're gonna do with 80% they're gonna do what any person okay they're gonna they want to they want to get their 80% clicks great that again so many of these the business bot models be the online journalism the mainstream journalism business models the newspaper but they're so shot they're so dead the desperation is so disgusting at this point I mean we've everyone notices it now they create their own stories and this is creating your own story that's your oath it's a fake story that didn't happen an exchange got hacked Bitcoin didn't get hacked sorry that that's the state of the media today hey let up do any persons gonna do what they're gonna do I'm glad I'm not in that realm I don't have to do business with those type of people I like being in the Bitcoin realm and the Bitcoin overlay and yeah keep on making your fake news and everyone can get up in arms about it don't don't waste too much time worrying about those people be happy that you have Bitcoin and yeah I think that's the end the show any any more questions and now that's it all right I hope I covered everything i'm adam meister the bitcoinmeister the disrupt meister remember to subscribe the channel like this video share this video check out the links below bang to get powned that like but bang that bal button get your updates on when we go live if YouTube 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