Hello everyone this is adam meister the bitcoinmeister the disrupt meister welcome to this week in bitcoin today is May the 24th 2019 strong hand long-term thinking bitcoin is the next Bitcoin I'm confiscated one Bitcoin equals one Bitcoin personal responsibility is the new counterculture strong hand conviction ok cool shirt link to below alright we got Alex on here from lolly you know him we got edy be gold edy finance background edy and we got money Triggs no we don't have money trace because I don't know where the heck that dude is man what is up alright now so we're gonna go like this these two dudes were in New York for consensus and I what I want to hear what's really going on going on it consensus people say it's so expensive I see oh people they're corporate people there what was the flavor on the on the floor at consensus Alex what everybody was a it was it was Bitcoin it was Bitcoin week and I'm not sure about blockchain week but you would have loved it a lot of people were I mean Bitcoin was up the projects I think that a lot of people criticized last year and a lot of the token projects I think and either run out of money or they didn't show up I'm not sure not sure what happened but there was and there was some really interesting projects I think people working in blockchain and like supply chain management there was cool there's just a lot of like activity and excitement I was very positive a great week so many people were up on Bitcoin again core where they say we're buying it we're holding it yeah I think like a lot of people that had previously like you know last year we're announcing all these like tokens or they were announcing you know being in the eath and they had come back to Bitcoin so there was just even the projects that last year were focused on token sales had come back to Bitcoin were about Bitcoin it was a lot of the messaging was Bitcoin related so it was just really really good week for Bitcoin good I'm glad was it as corporate as I thought it might be ed what was what was your take on the floor there I'm a good match with his uh his situation there was a lot less what I'd call tourists last year I saw a lot more people who I think they were playing investors but they may not have been investors but they had some money to throw around they they came to show off but when you talk to them they really don't know anything the the crowd this year was much more informed almost everyone there really knew Bitcoin and really knew the crypto space everybody was either genuinely looking for interesting projects to invest in and to follow or they had something that they were actually building and working on or they had a real interest in the space um so I thought it was a lot more realistic I know also there was the the preceding conference with all the developers the magical friends they I thought might sort of suck away a lot of the developers because they had excellent guests lots of developers but they were all in town for consensus as well so those were all present and active at consensus as well so you had developers you had projects you had institutions a lot of institutional stuff this year and a lot of people who really knew what they're doing who really knew about the crypto space so I thought it was a much more useful thing than last year and also because it wasn't as crowded I mean last year we didn't just have booths we had hallways full of booths crowds of people trying to walk by and shout over each other and you couldn't have a good conversation this year the hallways weren't filled with extra booths the hallways were filled with reporters doing sit downs with people and on the on the convention floor you can actually have conversations with people it's not like it was empty every booth had lots of people talking conversing going through stuff but you could actually have five and 10-minute conversations when you connected with someone who's doing an interesting project you could spend time getting into the meat of things and really make connections lots of business cards change hands lots of contact input changed hands I got a ton of follow-ups that we're still doing I'm getting hammered with follow ups I think it was a more productive consensus than last year and I think it's gonna create more in the coming months than last year's would have all right good I'm glad it was a because you know beforehand some talkers on it's got a reputation as this corporate ico type of thing so I'm glad I was productive for all and that hey people are waking back up to keeping it simple with Bitcoin I like that pal that like button everyone well let's talk about some corporate aspects of the crypto world here because there's a story that's breaking it is probably part of the reason that the price of Bitcoin is pumping right now in terms of Fiat of course all of us know that one Bitcoin equals one Bitcoin Facebook is like basically publicly publicly said their coin is is coming soon and again I think it's a positive thing it brings attention to the space some newbies are gonna get their hold all to get their hands on a cryptocurrency and then and Facebook is talking about getting their coin to be on and exchanges which is good because you'll be able to do this whatever you think of Facebook Petone you'll be able to turn into the real thing that's not that's my opinion cuz bitcoin is the real thing now let's let's get some predictions here what because if they're if they're it's still a little nebulous what this thing really is Edie how centralized do you think it is going to be what do you think this is actually going to do you think it's going to do to the crypto space to the Bitcoin space I think it's going to be very very centralized I think it's gonna be you know if you want to think about something like venmo I think it's gonna be like venmo but connected to them specifically and they've already said I think that it's going to be a coin peg to a basket of currencies so they're trying to come up with some sort of international currency but they're gonna be managing the peg to to an international basket of currencies you know dollars pounds euros Japanese yen so it's going to be very centralized however because they'll also be doing it as a crypto currency because they'll be doing the security that way it will add respectability to the crypto space so it'll be good for the crypto space in general because it's another way of telling the mass audience crypto is the way to go this is the way secure funds this is the way to transmit funds this is a way to send stuff between countries without worrying about this fiat versus that's the odd person to the other Fiat so it's good for the general mindset of the people who are complete no corners and who are ignorant of crypto but in terms of the coin itself that they're offering I don't think it's gonna be a real benefit to the crypto space at all all right well what's your take on it Alex I think it's good for I mean it's good for Bitcoin it's good for crypto it's good for the world I have a long view of stable coins and I think they do serve a purpose i I think that like we are very lucky being in the US and having the most stable currency there is and and so when you go outside the US I think a lot of people in a perfect world would love a stable coin that is on a more stable currency I know with international commerce when people will go place orders from let's say Nigeria to the UK it it's very difficult to transact because they're not sure could you pay in whose native currency and so if you think about like large-scale orders or even micro payments and and connecting the world through commerce I think some sort of network of that where somebody is paying someone in in their native token in turn ativ coin and then being being able to receive in their native currency is going to connect the entire world and and I look Facebook I think has not executed on payments in the past so I I do wonder how effective they will be but they have a billion people and they can connect people through there through Instagram through whatsapp through facebookcom it's going to be in everybody's hands and it's going to be very very it's going to be there and it's going to educate you as ed was saying it's going to educate people about the importance and validate the importance of cryptocurrency and I think as a even longer view the more that we look at alternative currencies and better internet currencies better digital cache it drives more attention to Bitcoin and will like at first I think what stable coins are going to do there is good to consolidate all that all the markets because you're gonna say why do I need my native currency if I could just be pegged to the u
s dollar or the Euro or the Japanese yen and so these critics are saying I don't know how many currencies there are 190 major currencies if that all consolidates down to a few major currencies every single time that consolidates it makes Bitcoin more powerful and it makes a central currency or a central store value more powerful and and so this is like a really good step in the right direction so I think like the next step in like where the where the world will adopt it will adopt stable coins across the world and then will start to adopt Bitcoin more as a more better store value a decentralized store of value that's my first perspective if I could if I could jump in I totally respect and agree with Alex's opinion on the value of stable coins on the need for stable coins there's there's a definite market need for stable coins and a lot of people want them I just don't think Facebook is gonna be able to deliver on this I have concerns because Facebook has fallen flat on security Facebook has fallen flat on privacy I can't imagine them being a great custodian of people's currency and that's what they're asking to be if you want to trade in their coin that they're managing that they're centrally holding they are your custodian I can't remember how many but it's a flew over the years of people sending me messages saying hey if you got messages on Facebook it wasn't me I'm sorry my account was hacked my account was stolen yeah that's obviously not the account you want to use to hold funds in now maybe people adopt it for small amounts of funds I'm sure it's going to make a big splash and I'm sure it'll help the crypto space in terms of the educational and awareness side of things but I wouldn't trust Facebook with my spending especially the way they've been sharing user demographic and user data with other companies you want them also sharing your spending with other companies I'm not sure they're going to be able to take off so I I will I will add I I met with the the payments team a lot over the last seven years mainly with my last company we built this ecommerce gateway and I I will say it's one of the smartest payment I have ever met I was for as little as they do in payments as far as like that's like that's public-facing five years ago the stuff that they were that they had was unbelievable and I think we cut like it's very difficult for ad based companies to transition into Commerce based companies and they their marketplace I think does well but I don't I mean I don't privacy and security I think are different and I don't think that that they're security I think is like pretty top-notch and I have never like I wouldn't be scared to give them my payment information I think that like I'm scared of what personal information I share with them and how much they know about me and my my habits online and and will they keep that safe but I think market forces are encouraging them and incentivizing them to lean on arm privacy I think Apple has paved the way when Tim Cook rolls into Congress and he says I can't like even if you wanted to request this data about our customers like you can't because we don't even have access to it like I I think that that's the precedent that that public companies that are that big need to say and then you look at what Microsoft is doing unbelievable like precedent and when you have two of the biggest tech companies the world saying we like people have to own and control their data and that is important for business and whereas like Facebook crota was took the approach they always were looking out for the advertisers and not the consumers and now they've seen that it's hurting their business and when so as people start to like privacy in the history of the world is so new and so foreign to human beings like we have always been incentivized to share everything we were incentivize to say there's a lion down by the watering hole like II don't go don't go by there because you'll get eaten like we've we've always been instead of mice to share or everything so that we stay alive and and so in the course of humanity I don't think that privacy is like native to us and now we're incentivized to share to not share and to keep things private because we have so much important data that's out there that is so important to us and so it's up to both companies like ours and company at the scale of Facebook and Microsoft and Apple to protect us as consumers and I think Facebook is now starting to realize that their business really dramatically effective if they do not I'm not sure I agree with you on the evolutionary biology we might have been incentivize to share a lot with our in group with our tribe but not so much with the other tribes you know you don't want the best hunting grounds being hunted out by all the other tribes in your area you might you might be incentivized to keep that to your in-group but on the broader village I've gotten way bigger we are not like RJ is arguing the entire world and it's a different world but we didn't involve in this world we involved in the prior one but let's let's not get into that we want to respond to what you said about Facebook um maybe I'm wrong maybe they're doing the technology really well and I'm not questioning their security on the back end I'm questioning whether people will be willing to trust Facebook as the place that they're going to consider secure for their funds and I'm questioning Facebook's ability to do an easy simple interface that the Facebook community as a whole will use which is safe um Facebook users are not the safest Internet users generally speaking so um I don't know how they're gonna bridge the gap between users who are so easily socially engineered and some sort of system that's going to make them safe but won't at the same time make it so obtrusive to try and use you know venmo is super easy but you know people aren't going on Benbow to send each other messages from Grandma that can actually be fishing ploys you know so the separation makes the security a little bit easier to implement Facebook has a tough road to hoe if they want to make themselves secure and convince people that they are secure people trust whatsapp every day with their messages back and forth and if you give somebody a low or no fee transfer across what how many people do they have like 500 million like users that are already using it cross border I think you could make a compelling argument that it's like if you make it as simple as venmo like the thing that makes venmo and cache app so powerful is it has it has the sort of line of network effect you pay one person and then that person trusts you and people trust them with their messages and a lot of people I think the saddest part about humanity right now is they people have such a hard time caring about privacy and you and I and Adam we all care about privacy and we're trying to be advocates for privacy but it's so hard to get people to care about privacy like that you know that the people go get hacked on their credit card and they just the credit card companies go and say oh don't worry about it it's fine everything's good we'll pay for it and then people just have not never been really incentivized to to care about privacy and and I hope that they never almost have to be I hope there's not like a traumatic event where like everybody has to care about it should be the responsibility of the public companies to look out for people but will say well see I think there actually will be a traumatic event that will affect a lot of that will change people's mind on privacy this is March there are a lot of smart people who are just a guy I don't care I think I think there's gonna be some unimaginable pact one day and people are gonna learn a hard hard like I don't want that to happen but just I there's so much irresponsibility in the in the world in terms of people's private information I mean there there'll be something big one day I think but the but also still most people won't learn but a lot of people there have been lots of tragic hacks absurdly stupid things that happen to breaches of data and people aren't learning so it happened me something pretty big that affects a lot of people personally for people to really learn yeah yeah and by the way Alex I love that insider info you gave about you talk to the Facebook people and everything you only get that kind of stuff here people pound that like button and Roman in the chat he gave his opinion on this so there are some people they got a bad taste in their mouth about Facebook I'll just say that he said how long will it take for Facebook to start fractionally reserving their coin with Facebook coin implodes the mass exodus from Facebook coin into Bitcoin will be beautiful well that that's one take on it I will say this about Facebook coin it is free marketing for Bitcoin in direct marketing people are gonna live what's this crypto currency thing and they're gonna find out about about coin so I appreciate the free marketing I don't want I don't want there to be a Facebook point disaster I don't want people that get a bad taste in their mouth about crypto so let's hope there's no a fractional reserve thing of their coin or any any uh any wildness going on there but they're friends with the government they can they get away with a lot of stuff they want to I guess but let's hope that doesn't all right so let's moving one let's talk about the copyright pump of the week huh so someone out there copyrighted a something that a lot of us are familiar with with the Bitcoin white paper and well did uh did it that it got a lot of news and maybe that was the goal of it and it had pumped a certain altcoin oh how about that Edie how about that who was that that did that copywriting trick I don't know some people you know people who claim to be Satoshi Nakamoto all sorts of wildness is going out if I if I read things right the the the copyright also included the original code which is just remarkable because the original code when you look at it includes in it the line saying that this is released under MIT open-source license you can't come out under a copyright that literally gives people rights to copy and then go back as a wave away I'm gonna claim the right for all these copies that have been out there in the wild for ten years it's it's it's not just silly it's imbecilic to do this but again you know when when the copyright notice was put in the first people to respond saying wait wait wait we haven't validated this word the US Copyright Office they came out and said we accepted this because there was a twenty five dollar filing fee or whatever it is that just means it's on record it doesn't mean that we agree that it's true it doesn't mean that has to be been defended but boy did it cause a huge market reaction even though it actually has no substance oh and also no wrists a lot of people I've been talking about the fact that he has the copyright you know there's a there's a penalty of putting in a false copyright claim penalties only twenty five hundred bucks comparing the cost of a twenty five hundred dollar fee for putting in a false claim versus the enormous bump in price that that hit BSB on the day that the copyright news came out yeah that would be money well spent if I were you know playing a coin I mean what do you think about what this is say to the market the altcoin market to outsiders that something like this I mean what do you think about the altcoin market when you see something like this happen are you asking me or Alec you did not stick with Ed on this I'll check it out my simple answer is there are a lot of traders and on any coin that's thinly traded or only on a couple of exchanges there's a tremendous potential for it to bump up especially if there are people taking short positions and I don't know that there is margin trading allowing for short positions on bsv but that could close the squeeze but yeah but there are lots of people who are out there to speculate you know there aren't a lot that I'm aware of people who are holders who are accumulating vsv everybody who is a holder that I know accumulates things like Bitcoin but there are lots of people are willing to play and trade any coin out there I mean all the trading you see in XRP nobody's holding XRP nobody wants to hold ripples but the trading activity that we used to see in it I think bumped up over three bucks right people who are just short-term traders they just want to jump on while the rubes keep buying so they can dump at the top and that's kind of what I think we're seeing on things like BSB especially when there's news that might cause people to make the mistake of thinking it's for real and piled into it you know it went up a hundred percent in the course of them you know half an hour 45 minutes that kind of double up doesn't mean there's you know real investment happening that means there's there's speculators playing their odds and gambling because they saw a piece of news and they hope they can get out at a better price than the other rubes coming after them all right Alex what was your take on this event from this week did you notice it no we we were building every day we launched we watched some really cool stuff over the last wXII it's it's tough to say I mean I stay in touch with the news there's just like so much going on that in my opinion this doesn't matter it's just a distraction I'm not I'm not in the business of like trading coins we offer one thing and that's Bitcoin and like every day we just think about how do we distribute that coin to more people I think that's the most important thing that I think about and we're you know super focused so I love coming on the the show to like learn and the here got all the new stuff going on and I think that you know every once awhile I you know take a step back and try to figure out what's going on with space so that directionally I don't get like left behind I like stable coins I think are really interesting thing as we start to go international I think at some point I think like other III I want I think would be interesting to see like what would what is out there that would ever replace Bitcoin I think it's important to keep an open mind and every time that I I look I can't find it but it's good – it's good to look and I think it's going to be open-minded and and but right now yeah we're just really focused on building we had a massive launch of like our new Firefox extension we just launched our first through delivery partner so you can order food get Bitcoin back take make Bitcoin part of your everyday life but yeah that's the stuff we're focused on right now I love that answer Alex does not get distracted by the crypto noise okay the thing is is clearly in this space there are a lot of people who fall for the crypto noise and it it can be annoying but I'm glad you were a clear thinker I'm glad you are a focus on Bitcoin being the next Bitcoin that that is the answer to your question you know people wonder what bitcoin is the next Bitcoin well Matt like button well Alex since you're working so hard on lolly and people are curing people have asked me they're like what what will you tell a newbie on you know or Adam if you didn't already have a Bitcoin how would you try to get Bitcoin and one thing I forgot to say was what you can if you actually buy stuff you can buy stuff and earn Bitcoin through lolly that is a good way for new people to get Bitcoin and get introduced to Bitcoin so again you just gave us a brief a brief glimpse into what's going on with lolly but tell us some of the big big news yes the so we next week we're announcing a bunch of new partnerships with a whole different like a whole bunch of different categories but yeah there's been I guess since I was lost on the show I guess for those of you who don't know lolly makes it really easy for you to earn Bitcoin when you shop online and these are buying the things that your your already buy things that you need groceries travel food delivery clothes whatever you need we cover across 750 top merchants so we've got Walmart jet Priceline overstock ever Lane Sephora like whatever you need online like pretty much we can get you Bitcoin back our average is 7% Bitcoin back a cool little staff that we've seen since we launched so we launched Bitcoin is at 3,500 and now it's around 8k so a lot of our early users people who have never had Bitcoin before have only seen their Bitcoin double which is really exciting and I think is everyone's sort of like I'll admit like when I first looked at Bitcoin I think one of the things that attracted me to it was the price I was like oh I can make some money off of this and but then once you make a little bit of money you you're like okay well why are people investing in this what is what is behind it and and it drew my attention and it kept my interest and then you start to look into the principles and now I'm like way beyond the just making money off of it I think it's a new world currency it connects us all through commerce it's the most incredible technology I've seen since I like you know first on a computer and you know starting dial-up on the internet like it's it's just an incredible technology that I think we all agree like is changing the world but how do you drive attention to that technology in a real way and I think you have to give everybody's skin in the game and that's the real core value proposition of lolly is it gives everybody's skin in the game we're doing something that they're already gonna do which is shop online Wow that there you go people he's more than a Goldman holder there this is this egg do you have thoughts on that the whole lolly concept I do I do now one thing that I really love about lolly and I can't emphasize this enough it's the first big merchant related play that I've seen that isn't causing crypto to the ecosystem it's causing people to put money into the crypto ecosystem another piece of big news this week I don't forget to talk about it was AT&T saying they're gonna take crypto for payments but the way they're doing it is people will pay with crypto and they'll immediately cash it out to Fiat so it's really crypto dumping lolly is the opposite lolly is people spending their fiat and getting their rewards into crypto so it's creating new holders it's bringing investment into the industry I don't think that can be emphasized enough that like when people Alec take it away yeah yeah it so I thank you for seeing that I think that it's uh I I'm I think in a certain point in the future it would be wonderful for people to both like spend Bitcoin and earn Bitcoin back but you're right it's it's it goes directly back into fiat and these institutions are not set up they they're just like happy to get money in general and but you're totally right nobody talks about that it's not about spending the Bitcoin and sure it's like if you're looking at network activity it's a good it's good for like investors but really I mean it's the thing one of the reasons like that you know why we created lolly is you're putting Fiat in and then you get Bitcoin back and look at that time over many years like think about it every single time you get 7% back and you're putting all this money in you're accumulating more and more wealth in Bitcoin and so very quickly you get to 1% of your wealth then you'll get to 5% of your wealth and 10% of your wealth will be in this like lolly wallet and over time you're like holy shit I'm now 5% of my wealth is in this Bitcoin thing may hope feliu continues to go up which I think it will the more people the more X that occur and the more merchants that accept it and I'm in word the other thing is the merchants love it because it drives a new customer to their to their to their store so the merchants are happy and like I try to tell people I'm like the best thing you can do for Bitcoin is like and I'm biased but like if you talk about and you're like when Amazon like when glossier when any of these merchants went Wayfarer all these merchants that we're trying to get every single time you tweet about it I'm putting together a list I'm sending it to the merchants and I'm like join our fucking plan so sorry sorry madam by that I'm really excited I'm so sorry audience I got really excited there so every time that people tweet everybody every time people want merchants to come on the platform I'm going and sending it to them I'm bringing into it into my sales meetings and that's how we've gotten like over 750 merchants on the platform and I personally think that like Ed to your point earlier when you when you go to a merchant and you say hey accept Bitcoin like I want you to accept Bitcoin like they might do it because there's an audience that like a very small population that wants to spend it coin but the audience that wants to earn Bitcoin is just way greater and way more active and so if you're looking for like network activity on micro transactions like we're doing way more activity on like actual like volume and transactions then I think probably any payment network is because every time you buy you we're going in buying Bitcoin and we're sending it to your lolly wallet like play that out across a million users that's that's where I think Bitcoin really takes off and then we'll go back to the Walmarts of the world in five years two years whatever it takes and I say hey Walmart you've we've sent you a 50 million dollars in sales why don't you think about accepting Bitcoin and then we can start to drive Bitcoin transactions in payments and in earning and have this like loop effect where like maybe they're holding Bitcoin at that point maybe like there's an incentive for them to hold Bitcoin and fiat and then we'll transition the merchants off of fiat as well what I want to see like a year or two from now is your user stories cuz I know you know when I get to the end of the year and I look oh my Discover Card I got I got like a hundred back in cash back rewards that's awesome except with lolly holders a year or two from now it's gonna be oh I got $100 worth back but it's now worth over a grand that's awesome you know the the shock enjoyed their going to experience is going to pretty awesome to see so right what our users at like a little over 2x so I think effectively people have earned like 14% back I think on average that we're like the early users I got in a 35 or earned at 3500 and so that's like the more and more stories like that it's going to be the cyclical effective if everyone can start to say it just in our case that we're are I mean I think Ebates is are already better than like any cash back program because they have just different deals it's more of a marketing budget than it is a interchange fee budget and and so we're coming in with that same budget and you know why my last company was bought by Ebates we know all the same partners we've worked with all these retailers in the last seven years and so I'm going to tell the same story that Ebates is but to our users if they can do double triple quadruple their their savings like users are so shoppers off like in the US and and in the world are so sharp at this point and they know all these Bitcoin are all these like point schemes and there's a reason why the points guy is so popular he teaches people how to game all these point systems that are gaming them and then with the cash back programs there's so many right now and they're all sort of convoluted we're the first and and I think the best in the Bitcoin back space and so the more and more we tell these user stories to your point where someone's like double a triple quadruple their savings it's they're gonna get smarter and smarter and a hundred thousand people are gonna go tell ten everyone's gonna go tell ten people it's gonna be a million people and it's a certain point I hope that we have this sort of escape velocity not which is Lalli but with bitcoin in general and you know I don't care if people don't want to use Olly if they as long as they're using Bitcoin and they're sharing Bitcoin with people and we sort of kickstart that I think we're gonna be in a really good space yeah there's an irony here I just want to add you know these people are becoming very savvy with their Points program and their credit cards and their bonuses and their sales but they're typically not very savvy investors but what lolly is effectively doing them it's turning them into people who are investing with dollar cost averaging you know they're consistently investing a little bit and you know not paying attention to the fluctuations in the price of the coin your dollar cost averaging and that is a very smart investment strategy that most people can't seem to execute on the only thing that I'll really differ Ewan's I wish you guys were offering rewards in more than one crypto you know I am explicitly Pro Bitcoin always have been always will be but Ivan also pro other coins as well I would love to see more of this happening with other coins as well I struggle with that I I'm personally like longest Bitcoin and I think it's already served it's a it's proven its value to society and I here's that here's the issue is like right now lolly is a is a very centralized organization and I believe in a free market and I want people to buy and earn and do whatever they they want to do and the market should determine what the best currency is I should not determine that and and so I I struggle with this idea like we honestly have not had a lot of requests for any other coins and and with every other feature that we've offered it's always come at the request of our users so I could you could make a strong argument that lolly is like free market in that anyone can do whatever they want with their Bitcoin their Bitcoin is their Bitcoin and and so you can transfer it off you can buy whatever currency you want so that's where I don't feel bad about just offering Bitcoin because it enables you to get into any other currency without convoluting this message I think it's very important to keep in mind who our target market is it's it's not just like the Bitcoin maximalist that we absolutely love and have really done an amazing job of spreading lolly with everybody and sharing it with their mom their sister their dad they're like friends from back home wherever whoever it is like I think we've created the easiest tool for people to share with people and part of it that I think is really important and like why we're in the bit why we're just offering Bitcoin it's not just a personal decision it's also a marketing decision people have I think a very difficult time understanding the value of all these other currencies because it's all so new so when you explain Bitcoin aetherium and all these other things it create it creates too much confusion for people that are just getting into the space and so I personally think that you need a gateway drug into the space and then you can decide whatever you want once you're knowledgeable you could go the side that you know you want to go build with a decentralized token and you want to go build a but you I think need to know about something you need to know about decentralized currency first and I personally think that it's just like it needs you need sort of a gateway drug and if Lolly's the gateway drug people should be able to do whatever they want with their money it's their money I just sort of want to take a step back of that and at some point we're gonna have to offer other currencies I don't know how much I like feature others it should be up to our users yeah I'm not faulting your decisions and like you know you're part of the market the market will decide I just think people are a little savvy or than you might be thinking and maybe you have a little bit too much of a us-centric point of view but I find that outside of the US at least people are a lot severe about the idea of multiple currencies it's it's a natural part of life pretty much everywhere when you leave in the US so I think it'll come more naturally people in most of the world than you might think well yeah we're US only for right now we're hyper focus on like having the absolute best customer experience we're gonna be expanding to Canada next which is a similar market with a lot of similar partners I totally like already started talking partners with partners like Singapore and Japan Korea UK and as you're totally right they've been way more they've been way bigger advocates for other currencies and I believe in a free market I don't want to be determining what people earn the same way that I don't want the us to make me use a certain currency I want to be able to pick what I what I want so thus I have to be empathetic I have to be open and and I'm all here so yeah I can have my own beliefs but that shouldn't be the belief of our entire community and all users and I'll say this you know if if there is a demand for a litecoin moly or a be gold lolly so much you start a competitor and you know and if people want to earn all come easy there could be a competitor to laalili the altcoin limey i'm not they're not gonna use the name lolly but you get the point you definitely get the point so maybe something like that will spring up who knows but for now we got lolly they're doing it with Bitcoin it's great a free marketing for bitcoins just like I said the Facebook thing was this is this is great and it's not it's not selling Bitcoin like I'm offended by 18 selling Bitcoin whatever whatever's going on there but yeah and put it nicely this is the opposite of what those corporations are doing that accept Bitcoin and then immediately sell it which I am of course offended by selling pound that like button well let's uh let's provide it was a it was pizza the pizza anniversary speaking about selling you know when the guy sold this bought pizza for so many Bitcoin and we were reminded of the gold aspects of Bitcoin that is it's a fret it could be a preservation of wealth and you might not want to spend it on a pizza because it might be worth you might be able to buy much more than a pizza in the future but it reminds us and you know Peter Schiff has lately been in debates about gold and Bitcoin week gold has come back in on to the scene again be the drop Gold campaign by gbtc is uh is Bitcoin leave it living Gold's dream what what is the what is your take here ad on on the future of gold and it is is Bitcoin our young people buy gold their errors is just are they just gonna get straight into digital gold III don't think young people are gonna buy gold I think young people are going to go into digital because they are into what's new what's coming and what's going to be the future not what was the past when I talked to my nieces you know I can't do it on a phone call because they won't answer their phone they'll only text you know so they're not they're not going back to the old stuff I think gold has been a wonderful thing historically I know there are a lot of gold bugs out there in the cypherpunks space but honestly I don't think it is the wave of the future it's not going to be the way to hold your phones in the future crypto is going to be the kryptos that are good stores of value like Bitcoin are going to take the place of gold not just when it comes to you know investing in a growing store of value but also as a risk hedge you know a lot of people say gold is the greatest inflation hedge when you look back historically it doesn't look like a good inflation hedge but it looks like a good risk hedge whenever there's tremendous risk in the market which tends to often coincide with high inflation periods whenever there's a big risk period in the market gold to be a good hedge because people flee to the safety of gold well we're now hitting the time where people might start flinging to the safety of Krypto right now this morning there were a lot of tweets out about the the rise in the S&P 500 short positions you know the short interest is going up and up and up to there you know the S&P might be coming down well when the S&P comes down as people are pulling out their money which is what makes it come down where are they gonna put that money where are they gonna feel safer is it gonna be gold you know gold that they can't hold gold if they can't transfer gold they can't bring with them if they go overseas or is it gonna be Bitcoin is it going to be crypto I think more and more of its going to be crypto which is going to lead to a rise in crypto as the traditional markets go through an inevitable cyclical recession Alex here your take on gold and savings in general I guess you're you i mean you you're in the consumer space here which is not about savings but i tell what's going on with your your in your head with gold i just don't care about it it's like I mean sure like it's it is it's it's been a story value I think it's like really tough it's it's the more I've learned about gold just as like I think if you're interested in Bitcoin it's important to understand the history of money and the history of this like store value but every time I research goldish it makes me realize like that like it validates Bitcoin so it validates is like I just I think it's important that it can't be replicated and it's it's sent out there I think that there's really when people make the whole like energy debate about like how much it cost to create Bitcoin but it's like I always coin them to gold like how much do you think it costs to go mine like gold that's like such an expensive and not energy efficient way but it's turning energy into money and it's like y-you know that's exactly what Bitcoin does as well so I don't know I think I think it's important for the world to understand the value of gold I think like investors when they look at like stores of value and ups of markets and down markets and everything like hopefully the morning percent that would have gone to gold will start to go to Bitcoin and and we'll see I think like the next recession that we have that's inevitable it's going to be really interesting to see what like of this trillion dollars of you know well where does it go where do investors put their money and if they put it into Bitcoin it's going to be great validation in a certain point I think people are going to just start to put more and more of the money countries are going to start with more on their money in Bitcoin because it's accessible where gold is not accessible to all people and it's it's definitely not accessible to all countries and we're starting starting to like see that within a suelo like Venezuela trying to get their gold back from my understanding and and the UK is like yeah no you can't like it's ours it's like if the number one store value in the world is not accessible to everybody they're like well I'm gonna go find another store value that is accessible start to think how like that plays out the more hyperinflations we have like that's where it gets really interesting for Bitcoin to start replacing gold right golden hold in terms of Bitcoin well that now that we're talking about an old-school store of value which young people seemed like they won't be buying uh and III want to hear speaking about old school did any of you hear that Bitcoin was talked about on a show called sixty minutes this is uh I've heard of 60 minutes that might have been on my parents television when I was a kid yeah yeah dad did you did you hear that they brought up that there was a there they mentioned they did a story on Bitcoin on 60 minutes I I didn't hear and I haven't had a television for years like I cut the cord a decade ago so Alex haven't you did you hear about that story I heard about it I have not watched it yet I probably need to the nice part was like my mom and my dad and a few friends back home texted me because I guess they think of me when they think when they see anything in the news that's related to Bitcoin and they were just like hey do you see the the show and like should I buy and I you know send them a link for lolly and call it a day so yeah I've not I've not seen it yet but I'd like to you know that's an al this is and this is the point that I'm trying to make here what I had a similar story my mother says well my mother says that my grandmother just called her and she's scared about Bitcoin because she just watched some 60s thing that mentioned Bitcoin and it kind of freaked her out a little bit there was a negative tone she thought so said there are people out there like Peter Schiff who tried to say that the 16-bit estate was a it was it was he had a whole conspiracy theory about it that it was all all the Bitcoin people knew it was gonna happen that's the reason it pumped oh it hey it's great that older people are finding out about Bitcoin 60 minutes it clearly does not appeal to the the market that's probably watching this show right now and they they're free to photon it or say good things about it it the world is it changing just like the world is moving away from gold the world is moving away from TV networks having a big influence on things like Bitcoin so III like to hear that it's interesting to hear that no one watches it anymore so the bitcoinmeister show is the is the new 60 minutes how'd that like but I like that alright alright so we're getting toward our end of the show here we gotta end it in in 9 minutes actually oh I do want to say uh more talk more talk about banks banning people you know there's a lot of talk about you know social media platforms kicking off people and the next thing is is banks kicking off unwanted people for me the answer and woe is me what shall we do I mean what is me what shall we do I think the answer is already out there I think it is Bitcoin woody what do you guys think have you heard about these uh people getting kicked off of their banks Edie I've heard of people getting kicked out of banks but it wasn't usually for anything they do or in social or anything they say or positions they hold when I follow the news about people being kicked out of bank it's usually because they were you know pushing too much money through and you know taking their cash sending it to coding base to buy more Bitcoin because they're they're doing you know over-the-counter sales you know local Bitcoin that kind of thing you know and that kind of thing want to see less of I want to see better regulation around crypto so that people could buy and sell crypto without it being some sort of crime to buy and sell personal property but yeah I missed the news about anyone being banned by a bank because of any positions they hold yeah it's just it's around social media now you have people saying old people got banned from PayPal and some people they can't do businesses with banks or they're getting letters it's just I think for me it's just a matter of time until thanks kick people out for for their opinion so they're already doing it for marijuana in the marijuana industry they're they're picking up crypto a quicker than most industries because most of them can't get banking arrangements because there's this discrepancy between state laws and federal laws and you know if you can't get a banking relationship you end up having a lot of cash and crypto and you know that's that's happening there but that's a matter of the business being not legal under the current set of laws because people don't have the freedom to do what they want I say to the people of the world who are not in the Bitcoin yet you have been warned banks can be arbitrary if they want to just they can be just as arbitrary as a Facebook and Twitter and and YouTube assists so be prepared Alex any any thoughts on bannings any thoughts anything where we've reached the end here so you can bring up lolly stuff anything any stories that you think we forgot to bring up this week anything so I mean on the banking note I mean I think that businesses have to serve the consumer the consumer will always win and in determine what businesses do so businesses are not friendly to a world that is starting to accept cryptocurrencies those banks will fail and and so I you you look just with like business like Silicon Valley Bank and silver gate have done incredibly well serving for their customers and like that we love our banks like I they I have no issue with them they've been supportive from day one they always look out for US banks I don't think are bad I think that there are nefarious characters in all areas and in there have been a lot of Flores characters in the banking world that have not served customers but look what it's done to Wells Fargo like I you go look at like Chase Bank and Chase Bank has done like a lot of good they offer rewards they always serve the customer like the consumer goes there there will be another bank that is like a crypto first bank that is a Bitcoin first Bank and that will serve another customer and other banks will either have to accept Bitcoin and hold our Bitcoin is securely and modernized or they'll get left behind by crypto first banks there's plenty of exchanges that look like banks at this point that are serving the customer so the market will evolve or they'll get left behind I like a positive take evolution of banks into a crypto friendly banks or crypto banks is positive take on a life um all right any other conclusionary thoughts on your part anything that was left out of the show some some more lolly info everybody loves that um yeah we just launched food delivery I think it's like it's my new favorite way to earn Bitcoin so I'm gonna do food delivery anyway when I'm feeling lazy so we just launched with this partner called caviar there in about 30 different cities I'm really excited also to like it's attracted all these other food partners that came out of the Woodworks and I've been trying to meet with for the last 7 months and they've all now wanted to get on lolly so that's been good we should be announcing a few more in the next couple months but I think that's going to be really big it's us over the next six months to a year is about making Bitcoin part of a ritual making it part of everyday life that's not just fixed on price price will be will keep your interest but just having skin in the game is something we're trying to do so I would encourage everyone if you're just trying to like use lolly and just figure out like you know whether it's groceries whether it's travel food delivery is like a nice little way to like earn Bitcoin so check out its try caviar comm you can download lolly it's super easy Aaron the dollar and Bitcoin for doing something I was already going to do and I'm clearly biased so you know feel free what does it verify don't trust gogo figure it out and see it see if you earn and do your thing but thank you for having me on the show I really appreciate it always fun always love the energy and keep those that strong hand yeah pound that like fun I will let you go right now because I know you've got a hard stop we're gonna we're gonna don't worry people too sure it's not gonna go too much longer but I don't want to limit ed and I know Alex is gotta jump off now sir Alex Nate thank you thank you very much and now and again thank you Adam always a pleasure take care guys see ya Alex good all right now it's it's Ed's turn for his conclusionary remarks and he will not be limited in time I I have a specific question before you get into it B we also be sv pumping and then I'm looking around and I see B gold is pumping also and I've just like it's gotta be partially because of this now you are a big old dude so tell us what's going on with the Eagle tell us your opinion on why it did pump and and again you've got a financial background so you we were talking beforehand and you've got some you know theories on why some of these coins randomly pump and all that so uh take it away and any news this is just one this say that we left off whether it be be gold or anything Bitcoin related okay so um basically I became aware of that bump that happened on them I believe Tuesday because I was I was prepping to be on an interview on blocks live and they were talking about the the top gainers and as I look at the chart I noticed suddenly btg became a top Gator and I ended up looking around to figure out why we're gaining you know we don't usually have like a 20% price jump in a short period of time unless we put out news and I always know when we put out news I'm the communications director for btg so I always know what's going on and I knew we didn't say anything and the only thing that made any sense was that we were getting some residual pump because of the bsv pump and I had to later find out it was related to the copyright thing now it's not directly because of the BSB pump obviously nobody's gonna read that you know there's this copyright notice and BSB doubles in price and therefore btg goes up what I think was going on is that some people who were speculating on bsv had this huge rise they were peeling money out and putting it into other altcoins because if you speculate on all coins you'll put money into other old coins and and we picked up a lot of that residual money coming out and happened to be well-timed because our coin has been doing well btg has been doing well in recent weeks and recent months in terms of price action we've been doing well in the markets a lot of people are realizing that you know we're a long-term survivor now a lot of people who were initially doubters about btg talked about how you know the huge pre mined endowment got dumped realize now that I was completely untrue we've got the btg transparency phase and you can see that you know over 60% of the coins that were mined into that endowment are still there because we've been very frugal with our money we've survived crypto winter with most of the endowment intact we're still working on developing things anyone who's running a node can see that we've got a new node out there it's not publicly released yet but you could see it on the other nodes we have been talking with a lot of exchanges and other groups about a new protocol called C CDN across chain block notarization which is something we're building in the coming months to help protect against 51% attacks to make sure that everyone is safe when using btg we've got a lot going on a lot going for us and also the traders that the people who speculate who work on technical analysis you know they've been looking at our charts and have decided on their own I'm not a technical analysis guy I don't go in for that I look at value propositions I look at what the fundamentals are and what's being built and what's being done but the technical analysis guys have decided that we're in a very positive position they talked about golden crosses and other things that I don't follow but they have been getting more and more bullish so when does B as V pop happen and some of that money started being pulled out and B as for you to take profit and into other old coins it pushed us over a sort of tipping point those those speculators brought our price for it back up to 24 25 the difference is for bsv it doubled quickly and then gave back a large amount of that game which is sort of typical when you see something pump high a lot of people take profit and bring it back down about half of its game B Fiji came up and really held its value and that's the proposition I think we're going to see going forward you know there aren't a lot of big entities that are interested in dumping btg and the ones that were obligated to sell off their btg places like a bit Mex was obligated to sell off their btg because they said they'll sell the four coins grayscale investments held a large amount of BTC but a year ago they sold it all off because their funds specifies that they sell off their their their altcoin forks those parties have mostly already sold off all their btg so the stuff that's out there isn't likely to get sold off anymore it's mostly held in things like exchanges that never released their btg but they're not gonna dump it either it belongs to their customers so we have so many positive things going on that we have a good stable base and when something happens that gives us a little bump it comes up and it sticks so that's that's been good for our project it's been good for the coin and I think it's good for the crypto industry you have to remember I mean you've heard it from the way I've been talking about things during the show BT G has never said we are Bitcoin we never made any fraudulent claim to playing like that but we are like Bitcoin we're in the Bitcoin model what we've done is extend the mining side of things out to the people again we want people to be able to use the graphics cards they already have to be able to mine crypto not like Bitcoin where you have to buy an expensive ASIC from some exotic the supplier so we're just giving people the opportunity to have another way to get into crypto lolis giving them a great way to get into crypto by spending their fiat and getting a little bit of crypto back we're giving them a way to get into crypto by engaging in the mining engaging the security side of things decentralizing the mining out to all over the world so that's our mission we're not here to buck the Bitcoin trend we support Bitcoin but we also support the other Kryptos and people are catching on to that especially in part to the world outside the US you know alex is the very US focus because this company is currently us focus but in Russia people love mining btg Southeast Asia people love trading btg they love Bitcoin goal we're we're a global phenomenon when we're not a us
thing now again friendly Fork that's the way I run record it's a friendly Fork it's not trying to be Bitcoin so one thing that you brought up coinbase people still ask me this question and trust me there's a lot of people who foolishly keep all their Bitcoin act coinbase and have done so for a very time they want to know when they're getting their be gold that they and that's that that is a good question have you heard anything about that when coin based plans to credit people there be gold from coin coin base coin base does what coin base wants to do when coin base does it and anyone who wants to know whether or not we've you know put in an application to coin base and and made clear the coin base that we're ready to help them of course we have of course we've told them that we're we would like to be listed and we gave them all the information we've shared all the details about our project we we've shared or our us written a security opinion on the fact that bitcoin gold is obviously not a security we're a much safer from the sec standpoint than many of the coins they already have listed but it's really up to them and there are some prominent investors in and and and you know people in the company of coin base that may not be btg fans so they've stretched it out I think it is inevitable at some point that they will either list BT G or allow people to withdraw their BT G because they hold those coins they absolutely hold those coins and they can't just sell them off without having massive lawsuits I think it's inevitable as the BT G price continues to rise as utilization continues to rise as our technology and agreements and partnerships start to get more and more traction I think it's inevitable that people will start asking again coinbase when are you going to list this when other exchanges start listing in which I believe some are going to start listing it and they'll say coinbase why can't we trade it here when you're gonna list it I think it's inevitable that they'll come round but you know II they don't say anything publicly after the the BCH launcher the big cash launch fiasco that they went through you know they caught a ton of negative press but also a ton of regulatory flack for that fiasco they're not gonna say anything to anyone if they were planning to list Bitcoin gold tomorrow they wouldn't tell me they'll they'll tell the world tomorrow Bitcoin gold will be listed as of this date in the future they're not gonna share anything gonna be very tight-lipped going forwards alright alright so before we get the final final words I did want to share the having show sent 20 Norwegian krone ah he says new crypto animation share it with Bitcoin newbies check out the having shows channel just look him up on YouTube I'm glad there's a dude focusing on the Bitcoin having and by the way I don't add on the show before speaking of having's at the be gold people they've got to get their own be gold having clock off of some site somewhere people like it looks like may 15th now it looks like may 15th of next year just the like a week or so before Bitcoin yeah I mean live again it's a friendly forked bitcoin live off the glory of the of the having hype P gold is gonna is gonna have a having to it'll be very interesting to see what happens all right conclusionary thoughts add anything else you wanted to add to the show any news from the week that was left off III have nothing but positive to say about the crisp crypto space and about Bitcoin in particular the thing I found remarkable when when talking to people who aren't more in the traditional financial spaces some of them are still asking if the bear market is over that's absurd to me there is no place in the world where you could see values double over the course of a couple of months and ask if the bear market is over it's so obvious the bear market is over but crypto Downers are gonna doubt crypto the rest of us are just gonna go on making money alright that is a good way to end it well it's been a great week everyone I spoke in Long Beach last night what's up all everybody down in Long Beach we will talk I'll talk about that on Sunday show tomorrow shows the beyond Bitcoin show so there's a lot more to look forward to this weekend in terms of shows remember I do a new show here every day that this week in Bitcoin show is here every Friday it depends on where I am what time it's on but thank you guests for being on today everybody i'm adam meister the bitcoinmeister the disrupt meister remember to subscribe this channel like this video share this video check out the links below follow me on twitter at Tech ball te CH ba LT disrupt meister comm bang that bell button shabbat shalom i will see you guys tomorrow night bye bye bye bye
