Hello everyone this is adam meister the bitcoinmeister the disrupt meister welcome to the one bitcoin show today is july the 19th 2020 strong hand long-term thinking bitcoin is the next bitcoin conviction compete don't complain be a unique beast relentless your home for bitcoin insider information i am offended by selling all right hello my elite friends how you doing if you have questions i have answers type in bitcoinmeister or do a super chat if you have a question we definitely will have time check out all the links below especially yesterday's beyond bitcoin show which is only on the backup channel subscribe to the backup channel that is linked to below also watch saturday's show i was talking about all sorts of controversial topics that can only be talked about on the backup channel on the beyond bitcoin show this week in bitcoin was on friday we had and again you can watch it at techvaultcom disrupt meister
com come on people actually check out those links i know a lot of you don't you just like mindlessly drool and watch the video and uh well we're gonna talk about that in a second but i mean that's don't be an algorithm servant just don't follow don't tell don't click on what the algorithm tells you to do your own research look in what the youtube creators provide for you i mean this is i'm not just providing those links for decoration down there this is part of the show it's part of the learning experience and if you're not learning well then you end up just being a weak hand and you sell your bitcoin is disgraceful and you're not pounding that like button but uh fridays this week in bitcoin uh brandon was on uh from bitcoin magazine and uh no he's not from dick where's brandon from whatever brandon's from uh but yeah well for putting on the event in in los angeles that's that's bitcoin magazine isn't it yeah so and then we have uh who else was on the show i just got thrown off by that federico in italy and john dallas was one but i want to say something that brandon brought up about taproot that is if you're going to gain one bit of knowledge from the this week in bitcoin fast forward until the very to the very end when brandon uh starts to talk about taproot and he says that is the next big uh conversation in bitcoin it's the next segwit conversation so you can be sure uh in this second half of the year you're gonna be you're gonna be hearing about it i'm sure people will be yelling back and forth on social media controversial uh people making uh complex uh technical videos about it and that gets into complexity worship all right now i can just sum up tap root like this okay it's it's gonna be a big deal big arguments and uh it might improve uh bitcoin scaling and privacy that's that's where the the argument is going to come okay i can't tell you about every little technical feature of it uh and uh and does it really matter every little technical feature of it for every person that's out there who who values their wealth in bitcoin seriously do you need to watch hour-long videos about the specific technical uh the the tap root and what else is taboo paired with uh what's what's i i forgot the name of the uh the other improvement that it's uh it's paired with well anyway and so you you need to i think you need to know what it brings to the table but not every technical aspect of it you know if you if you've got a technical mind maybe that's entertaining but there's so many people out there they'll be like oh man that that that video was just so great and and i'm like what was it about they came to tell you what it was about it's blind complexity worship and there is so much of that in the uh in the bitcoin space or in in the overall cryptocurrency space too uh you know some of these all coiners will present uh you know technical uh based videos of why uh their uh their coin is better than bitcoin although we all know that bitcoin is next bitcoin pound that like button but uh and it's got all these long words all these technical complexities programming language nonsense and to them it's not nonsense but to there they're just oh that's awesome that is awesome it's blind complexity worship and it's not i mean hey i try to help people manage their time more efficiently that's what a saturday show that's what you know some of the advice that i give and i always tell people you avoid the clickbait stories i mean today on coin telegraph and clickbait stories by the way are worse that that's that's that's worse than uh than complexity worship okay because at least it comes if you actually read an article that's uh that you don't exactly under i mean you know you're learning new terms at least you might have a new term might jump into your head when you read a freaking clickbait article about uh some guy saying he's going to eat his uh private parts and and and that's what the the article on coin telegraph was about john mcafee today talking about the the private parts again and how many times you have to hear about it it's nonsense he wants attention you failed if you if you read that you wasted your time i just saw the headline again again people are going to probably ask you about his private parts again and and 500 000 and then a million bitcoin come on dudes uh so when you when you waste your time on that you actually maybe your iq goes down i don't know it doesn't get that but it's a you learn nothing it's it's it's the complete opposite so i i got the complexity i've i've expressed this complexity worship before and i got the term from euron brook uh and it's it's something you should catch yourself with because uh if you're just uh if you're trying to argue a point and you kind of defer to someone else uh to an article that you don't even understand what it's about that's that's that's complexity worship right there because you're putting someone on a pedestal because they're saying something that you don't understand and you're just assuming that it's right and you're assuming that it's incredibly knowledgeable and uh no that's that don't blindly uh worship things that sound complicated okay or worship people that sound complicated i have these articles that get sent to me i'm just i'm like dude people even understand what they're sending me here like this is so great well why is it so great okay okay that's the way to bust on a complexity version right there did you really read it did you really read it all right so uh something that happened ten years ago today uh and it goes way beyond bitcoin and cryptocurrency it's the complexity that's what i mentioned on yesterday's show too so you can apply it to so many aspects of your life the blind uh complex in worship now today 10 years ago today the first bitcoin trade on mount gox swapped 20 bitcoin uh for 99 cents at a price of five cents per coin that's ten year i mean it would be yesterday now uh this is a a tweet from clark moody so for all you impatient people uh you can see you stick around for 10 years uh what can happen now i wasn't i i wasn't buying up now but it also shows hey it's bitcoin has been traded now for a decade a decade we've reached uh bitcoin has reached a milestone uh and it is it's pretty funny when you look back five cents uh and uh i wonder what happened to that person who bought 20 that day if they had us if they actually had a strong hand and were like or were like uh most people today and like oh it's now it's 10 cents better sell it better sell my 20 gonna uh gonna make my dollar here but yeah dude that that that puts it in perspective here i got a garlic i'm playing with here don't keep the garlic close to you okay let me see if there are questions over here someone says tat root let's go all right yeah you better believe it taproot hey hey let i'm letting the technical people deal with it i'm just giving you a little bit of a preview and if it's anything like segwit who knows maybe someone will fork off anti-tat group bitcoin or something uh yeah that would be great hey let let compete don't complain if people don't like it let them argue uh let them argue against it and if they if bitcoin uh if it gets added in there the the tap root uh improvement what is the other what's that what's the improvement that's uh paired with taproot why can't i think of that name right now tap root i'm gonna have to look it up that's bothering me snore snore singers okay yeah when when they're added if people spazz out and hate it let them create their own uh uh let them uh create their crypt of dividend and bitcoin the the anti-uh the anti-tap bitcoin go ahead we need we need some new crypto dividends here we need uh people that get that frustrated and think they have the next bitcoin it's it's good i i hey any in any family they're always going to be arguments and that's the great thing about bitcoin when a family has an argument and somebody runs away uh the original family gets wealthier man like button okay now it's a unique you get the insider information here people don't talk about the still to this very day people don't talk about how you just hold onto that beautiful bitcoin instead of trading it on mount gox for a dollar profit you eventually you get these uh crypto dividends which is interest on your freaking bitcoin baby live it love it bitcoin all right now moving on uh we talked about the uh here's another uh actually early stage venture firm which invests in startups building in the public blockchain sector okay i'm not i'm not going to say what's that that's exactly describing the specific company but i saw that description of a company early stage venture firm which invests in startups building in the blockchain public blockchain sector for me that's that's complexity right there unnecessary complexity and people worship that type of complexity too why not just buy the real thing instead of building uh on top of something that is similar to it okay why not just buy bitcoin but this is where the big boys play so such if people want to complicate matters that's life and maybe they'll get some winners out of that but basically what that but what's that saying that's saying is hey there's bitcoin then they're all coins then they're people who build things on top of those all coins and we invest in them and uh i okay you can invest in all coin businesses and then write tremendous thesis on uh theses how uh how great your uh company is what it's going to do etc etc and then some people they don't even unders they don't understand it but it sounds cool it sounds real cool this company is going to innovate on uh on litecoin wow that's that's complex it's worship it's it's blind complexity worship complexity for that's complexity for the sake of complexity right there stick with the real thing bitcoin i and again that doesn't get you the uh the attention it doesn't saying buy and hold bitcoin it really doesn't get you attention making some complex uh altcoin related company uh that deals with defy that's a that's a flavor of the month type of topic there and then no one can understand what you're even talking about that and people people are more likely to buy it when they're not when they're in this space at least because there's such complexity worship if if the masses don't understand exactly what you're talking about uh i think in this space they're more likely to buy it it than than if they actually understood what you were talking about and that is complexity of worship now uh now let's talk about crypto dollars real quick and lots people uh noticed on the backup channel i uh reposted a video from a long time ago 2017 who's who in bitcoin and people ask me well let's do it do another who's who in the space adam list all the people uh that you think are important or that you follow on twitter or that you read do it again well i don't know if i'm going to do a whole video about it but every once in a while i'm going to talk about people and i've done this before if you pay attention if you actually have listening comprehension yeah well i mean if you watch it this week in bitcoin show those are people that i pay attention to the rotation of guests that i have there but i can get a little bit more in depth so nick carter is like i had nick carter on the show back uh before everybody knew who he was in uh this summer of 2017 so we're talking about almost three years ago now it was in september or august i think it was on once or twice i can't remember now and amazingly he was on with egocoin guy little little did i know how that dude would devolve but nick carter has only gotten better he's he's he's a young guy and he's only one weakness you know some of these guys i had to drop uh following because they panicked so much about the virus so many dudes just panicked and they're still in panic mode and that that doesn't give off a good uh vibe to me because i don't when they say their strong hands yet they panic with uh with the virus well they're demonstrating that they're panickers so why why would i why should i believe they actually hold bitcoin that they didn't panic uh all the times that it's dropped so actually but i do initially you know you can give some people some leeway uh at the very start and nick carter had some really cryptic uh virus related tweets back in the day it was disturbing on a certain level but he's never talked about it again so no worry about that that don't worry about that he's got a strong hand i mean there's a there's a certain guy uh from uh i i don't wanna i don't wanna bust i don't wanna be there's a certain guy from another country who's straight up admitted i mean he's he's a huge panic guy i haven't had him on the show for quite some time because he's a he panicked because of the virus but he even admitted that he he sold that he often sells his bitch he doesn't have a strong he doesn't but it goes hand in hand weak hands and uh panicking uh over current events there's a big there's a big overlap there there's a tremendous overlap there but going back to the point nick carter has a so smart excellent article about this crypto dollar thing out there i read the whole darn article the crypto dollars article and i really came away more knowledgeable in terms of uh the entire space so it says indeed the supply of crypto dollars has already outstripped numerous countries when it comes to an active monetary base think about that when when thought of as an individual nation crypto dollars currently boasts a broad monetary base a broader monetary base than that of 72 countries okay that is that is impressive and it's it's not bitcoin stable coins crypto dollars whatever you want to call they're not but clearly this is a big thing we we need to keep our eye on everyone needs to keep their eye on this because this is going to change the worldwide financial ecosystem and it will help bitcoin okay and it will get bitcoin's name out there and get more people away from the the the system that relies on on banks okay in central banks uh and in zimbabwe let me tell you there is no excuse they're having bad inflation there again and if they had a way to get onto these crypto dollars there's no excuse for them not to get onto them okay because uh it is a complete way to get rid to to once you're on the crypto dollar rails okay no more capital controls okay you are not stuck using your worthless freaking zimbabwe dollar or whatever whatever they call it there okay and this this happens uh in so many so many developing countries once users are onboarded into crypto fight into the crypto financial infrastructure the crypto dollar and it is difficult for the state to impose capital controls on them without taking extremely onerous measures and right now these these crypto dollars most of them are backed up or supposedly backed up by real dollars in the back okay that's the collateral that's backing them up and many people are buying into that story and using them for all sorts of reasons it shows you that the dollar is worshipped all and the dollar is not going anywhere but and this is a big but certain certain entities are backing up their crypto dollar creations with bitcoin bitcoin is the collateral and i think that is great i think that's great instead of relying on dollar based bank accounts okay to create your uh crypto dollars from saying okay i'm creating a hundred thousand crypto dollars because i have a hundred thousand uh dollars in the bank and we're gonna we're gonna distribute them et cetera et cetera uh no do have have uh have a hundred thousand dollars worth of bitcoin in the back and create uh fifty thousand dollars worth of crypt of dollars okay that and if more and more of these crypto dollar creators out there use bitcoin as a collateral it will tie up more and more bitcoin and that is good that that is good uh for bitcoin okay keeping it keeping it in in very strong hands at that point because they got to keep it they have to have proof of reserves to show that these crypto dollars they issued are actually worth something so they got us have the bitcoin there so that is a good thing and read the entire read the entire piece uh there's some fancy sets and graphics there too i i i i really enjoyed uh those three points that i that i just shared and so nick nick is a great twitter person to follow follow him that that uh crypto crypto dollars are an interesting creation that will help bitcoin and if they will really and i've said this before they're gonna destroy some of these if the people in these developing countries can actually and this is a big if uh get away from blindly being part of their uh fiat currency system it will destroy some of these uh developing world uh fiat currencies because they will want to have something that is the dollar just as good as the dollar these these crypto dollars are just as good as a dollar they're easier to get uh than the dollar and your country can't stop uh it can't impose capital controls on you uh like zimbabwe can uh in terms of uh get getting the dollar in and out of the country as i saw firsthand in uh in zimbabwe so i'm watching uh ben shapiro on uh friday i believe it was and he's got an advertisement for something called our crowd our crowd a better way to invest in startups okay first of all bitcoin is my startup pound that like button and i've been saying that you can check out the the archives from 2015 when i said it was like a facebook uh pre-ipo okay so yeah i got i i invested in this startup a long time ago i don't need to gamble on our crowd but our crowd pitches itself as a way to get in on startups early and so ben shapiro uh since it was an advertisement i started looking over at my food and putting some food in my mouth because i eat i do two things at once and i hear him say get in early on ripple at our crowd i'm like ripple what the heck what's going on here but oh no it's ripple foods ripple now this has nothing to do with ripple but some people call ripple foods ripple a lot in fact and uh i just want to point that out to you that some people might get get excited and think oh because ripple is as a company also uh but the ripple that we know about it doesn't deal with food they deal with some centralized cryptocurrency or something like that i don't know exactly what they do uh but so so be careful about that uh it might you know it might help uh our crowd and some people might think oh wait a second i'll get into this aircraft thing because they're gonna give me inside information inside ways to get special ripple before ripple goes ipo that's that's the impression you might get from this advertisement that there's some company out there called ripple that's eventually going to go ipo oh it's it's the end it's the uh cryptocurrency company ripple i'll get in with aircraft and i'll be able to get in before it gets uh ipo on their stocks not really instead of instead of buying regular xrp i'll get their special no it's just it's ripple foods okay be careful i'm sure someone will create some fabrication around all this confusion if you want to look up ripple foods i link to it below by the way thank you very much for the person who sent me bitcoin the other day that was that was very very generous of you uh you are uh i think you're listening on the podcast right now what one final thing uh about current events i've said this before i want to say it again bitcoin is the guilt shame privilege buster all right all these people shouting privilege at you shouting you should be ashamed of success you should be guilty about success when you hold bitcoin you should just be straight up out there saying i got in on this i am proud of this right now you can be a proud person also bitcoin pride you don't have to work it can't be taken away from you you truly if you truly are in the bitcoin overlay or even getting toward there okay if you if you have that mindset uh and understand bitcoin and understand that you can send it anywhere in the world there are no restrictions on it it does not worship the government any in any way it has nothing to do with the government in any way and today so many people want you to do you think the government's gonna solve all their problems uh it's it's the ultimate in personal responsibility that's stuff you should be proud of personally i took personal responsibility i am part of this counterculture this is not the the way that the masses are behaving today i am not a part of that at all i am proud of that and if they want to scream guilt and they want to and they want to drown themselves in guilt and shame and and thinking they have some privilege let them do that i will laugh upon them because bitcoin is it's the buster of all those things okay if someone ever tries to to put guilt or shame or privilege on you just say yeah i'm i've got bitcoin and i'm proud of it so what what's wrong with being proud of my accomplishments what's wrong with being proud of being in motion all right so that that's that's the bitcoin world in motion all right pride bring it bring it back all right production we have we have law p most people have lost touch with that so this is if you ever try to convince someone to get into bitcoin there's a completely different take on how to do so just say hey dude are you tired of just the uh how everybody's guilted today everybody's guilt and shame are just thrown in your face if if you truly are into this bitcoin thing you just laugh at that stuff it it is the the shame buster pound that like button everyone news show every day the great uh jim says stay consistent stack at a rate you can sustain he sent 499 in the super chat thank you very much and of course uh check out big piggies that bit piggies that's a great uh company that uh helps teach the youth uh to treat uh it gives them a bitcoin piggy bank bit piggies look it up uh can we have a pride parade too says doug yes yes there should be a bitcoin pride parade yes in in san francisco hopefully there will be a great big right now there should be a bitcoin pr this would be the perfect time to have a bitcoin pride parade in san francisco when they're all locked down saying we don't believe in this nonsense we're taking it to the streets you get into this bitcoin thing you will be proud and you won't be worshiping the freaking government and following their edicts and hiding in your your house which is now going down in value because of all uh the government uh induced uh restrictions that have been put on the city of san francisco on silicon valley uh san jose santa clara oakland whatever the nonsense that's going on in california today so yes there should be a bitcoin pride parade this very day in san francisco i would participate in it right now okay and uh that's it i'm adam meister the bitcoinmeister uh the disrupt meister remember to subscribe this channel like this video pound that like button new show every day please follow me on twitter t-e-c-h-b-a-l-t i'll say hi to you dudes in the chat bye-bye
