American bitcoiner Sasquatch Muscle has really come a long way. He started out as a poorly informed shitcoin speculator who was constantly looking for that easy 100X, and through research became a Bitcoin maximalist who runs his own node and onboards Lightning without resorting to custodial wallets.
The story of Sasquatch Muscle isn’t singular though, and this episode of The Bitcoin Takeover Podcast is meant to be educational for newcomers. While it seems tempting to invest into the asset which appears to be going to the moon, you have to take into consideration the greater centralization which creates leverage for market manipulation and insider trading. Also, the future of most shitcoins is uncertain and you might end up bagholding something worthless.
Since Sasquatch Muscle has a professional background in public health, we also spend some time discussing the Bitcoin maximalist carnivore diet, as well as other aspects which concern the discrepancies between public affairs and the anarchy of BTC. Follow him on Twitter.
If you would like to support the show and project, you may donate some sats through the QR code below, send a tip via Lightning, or spend $1 of your dirty fiat on Patreon. Keep in mind that 50% of BTC donations will be sent to Sasquatch Muscle or a charity of his choice, as his time and educated insights are valuable.
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0:00:03.940,0:00:07.000 [Music] 0:00:45.850,0:00:49.550 hello and welcome to the Bitcoin 0:00:48.230,0:00:52.570 takeover podcast 0:00:49.550,0:00:55.340 I am glad and my guest today is 0:00:52.570,0:00:57.500 Sasquatch muscle or whatever that means 0:00:55.340,0:01:01.520 and she's an American Bitcoin er who 0:00:57.500,0:01:03.290 started in 2017 at the very top it was 0:01:01.520,0:01:04.940 when she bought his first amounts of 0:01:03.290,0:01:08.180 crypto I'm not sure if it was 0:01:04.940,0:01:10.550 specifically Bitcoin but I really think 0:01:08.180,0:01:13.010 that the lesson that he can teach us is 0:01:10.550,0:01:16.580 valuable and should be passed on to 0:01:13.010,0:01:19.550 future noobs and plebs were to get into 0:01:16.580,0:01:24.650 the Bitcoin space this upcoming bull 0:01:19.550,0:01:27.110 market so hello hey thanks for having me 0:01:24.650,0:01:29.720 I'm really happy that I get to talk to 0:01:27.110,0:01:31.759 you and part of the platform of this 0:01:29.720,0:01:33.800 podcast is to invite people who usually 0:01:31.759,0:01:37.070 don't get a voice and don't get invited 0:01:33.800,0:01:38.780 to other podcasts so the fact that we 0:01:37.070,0:01:40.910 get to talk and share the kind of 0:01:38.780,0:01:45.080 experiences that most of the times are 0:01:40.910,0:01:48.080 just told in the third person by crypto 0:01:45.080,0:01:49.250 influencers is valuable and I'm happy 0:01:48.080,0:01:52.940 that we get to do this 0:01:49.250,0:01:55.069 I appreciate it as well it definitely is 0:01:52.940,0:01:58.100 something where you see the stories and 0:01:55.069,0:02:00.470 I can relate to many of them but you're 0:01:58.100,0:02:03.560 right they come from influencers from 0:02:00.470,0:02:06.410 their perspective so I'm more than happy 0:02:03.560,0:02:09.170 to talk a little a little bit about my 0:02:06.410,0:02:12.740 experience also you have a background in 0:02:09.170,0:02:15.140 research did I get that right yep I work 0:02:12.740,0:02:17.660 in public health and in health promotion 0:02:15.140,0:02:21.560 and manage some population health 0:02:17.660,0:02:24.950 programs okay before we get into that 0:02:21.560,0:02:26.330 part where you started with Bitcoin how 0:02:24.950,0:02:28.250 does this work 0:02:26.330,0:02:31.849 that you work for a government 0:02:28.250,0:02:33.410 institution and you support the kind of 0:02:31.849,0:02:35.450 currency that is agnostic to 0:02:33.410,0:02:38.599 nation-states and basically tries to 0:02:35.450,0:02:41.599 take away the money showing power from 0:02:38.599,0:02:45.670 the government so do you find any kind 0:02:41.599,0:02:48.440 of ideological incompatibility between 0:02:45.670,0:02:51.530 the kind of work that you do and the 0:02:48.440,0:02:55.280 fact that you support that coin 0:02:51.530,0:02:59.180 you know I I think I'm like many others 0:02:55.280,0:03:01.340 who do see just from the you know 0:02:59.180,0:03:05.780 American political landscape there are 0:03:01.340,0:03:07.780 issues that you see at work but you know 0:03:05.780,0:03:11.890 your livelihood depends on it so 0:03:07.780,0:03:14.630 depending on if you you know have 0:03:11.890,0:03:19.580 Bitcoin has has obviously been something 0:03:14.630,0:03:22.459 that I have found to be kind of a you 0:03:19.580,0:03:24.590 know a guiding force for what I've 0:03:22.459,0:03:28.640 always thought we should be doing in 0:03:24.590,0:03:31.489 health promotion so I think as the more 0:03:28.640,0:03:34.459 I learned about Bitcoin and looking at 0:03:31.489,0:03:39.050 things in a high time preference 0:03:34.459,0:03:42.470 approach I think about how Bitcoin could 0:03:39.050,0:03:45.769 potentially help in educating changing 0:03:42.470,0:03:50.630 behavior and on what I do currently in 0:03:45.769,0:03:55.010 health promotion so when we look at the 0:03:50.630,0:03:58.970 cost of health care you know we all see 0:03:55.010,0:04:02.450 the year-over-year trends getting bigger 0:03:58.970,0:04:05.750 and bigger medical benefits costing more 0:04:02.450,0:04:09.140 premiums more prescriptions or costing 0:04:05.750,0:04:13.220 more even gym memberships are costing 0:04:09.140,0:04:17.359 more so I've actually started to look at 0:04:13.220,0:04:20.269 Bitcoin as a potential to provide some 0:04:17.359,0:04:24.080 of those same services that we typically 0:04:20.269,0:04:28.250 use our fiat or a USD on that have 0:04:24.080,0:04:33.410 become overpriced as an opportunity to 0:04:28.250,0:04:36.190 provide the same type of solution 0:04:33.410,0:04:40.550 whether that's a service or a program 0:04:36.190,0:04:45.830 but at a relatively much lower cost 0:04:40.550,0:04:49.210 today due to our ability to utilize 0:04:45.830,0:04:52.789 Bitcoin and the high time preference 0:04:49.210,0:05:00.500 aspect of it so you know today you may 0:04:52.789,0:05:02.050 spend $21 on a two month healthy eating 0:05:00.500,0:05:05.410 program 0:05:02.050,0:05:09.550 where a lot of people they don't even 0:05:05.410,0:05:12.550 see the value of the health behavior of 0:05:09.550,0:05:15.789 eating better they don't see any value 0:05:12.550,0:05:17.770 in the $21 spent because they want to 0:05:15.789,0:05:20.620 lose weight next week 0:05:17.770,0:05:23.379 they don't want two months of a program 0:05:20.620,0:05:26.319 or one year of a program to change their 0:05:23.379,0:05:28.389 behavior and maintain that change but 0:05:26.319,0:05:31.180 potentially with Bitcoin it gives us the 0:05:28.389,0:05:35.430 ability to you know provide a program 0:05:31.180,0:05:42.340 for maybe 10,000 sets or one dollar that 0:05:35.430,0:05:46.419 from the business perspective you hold 0:05:42.340,0:05:48.699 that 10,000 sets and that value 0:05:46.419,0:05:51.009 increases allowing you to provide that 0:05:48.699,0:05:54.370 program that you otherwise would 0:05:51.009,0:05:57.310 overcharge in USD but you can provide it 0:05:54.370,0:06:00.960 in at a much lower cost as well as 0:05:57.310,0:06:04.719 educating individuals on the benefits of 0:06:00.960,0:06:07.419 Bitcoin the high time reference living 0:06:04.719,0:06:09.490 healthier managing your health and and 0:06:07.419,0:06:12.039 doing those things that you you need to 0:06:09.490,0:06:14.560 do to live healthier and live longer so 0:06:12.039,0:06:18.389 that you can actually see the realized 0:06:14.560,0:06:21.819 gains of that Bitcoin or your health 0:06:18.389,0:06:24.449 okay I never really thought about it 0:06:21.819,0:06:27.060 from this perspective but then again I 0:06:24.449,0:06:30.490 didn't have much to do in my life with 0:06:27.060,0:06:32.979 medicine and this side of public health 0:06:30.490,0:06:34.840 care even though my mother has worked in 0:06:32.979,0:06:39.930 a hospital for years I was just a child 0:06:34.840,0:06:42.930 and I didn't know much yeah definitely 0:06:39.930,0:06:44.759 is a lot of individuals as you get older 0:06:42.930,0:06:47.130 as you become more involved the nice 0:06:44.759,0:06:49.500 thing is that that I guess the nice 0:06:47.130,0:06:52.639 thing and the unfortunate thing is you 0:06:49.500,0:06:56.610 can access information get quality or 0:06:52.639,0:07:00.180 bad quality information online so you 0:06:56.610,0:07:02.310 can access it and get it but it's a 0:07:00.180,0:07:06.300 matter of how do you get programs that 0:07:02.310,0:07:09.509 are evidence-based that are looking at 0:07:06.300,0:07:13.169 the health behaviors that can maximize 0:07:09.509,0:07:14.789 your health and also looking at things 0:07:13.169,0:07:18.690 outside of that things that we can't 0:07:14.789,0:07:21.780 control the other dimensions of health 0:07:18.690,0:07:23.220 like not only the physical side but the 0:07:21.780,0:07:26.160 emotional side that we're starting to 0:07:23.220,0:07:29.849 learn a lot more about the environmental 0:07:26.160,0:07:32.370 side not so much carcinogens but how are 0:07:29.849,0:07:37.520 our communities put together are there 0:07:32.370,0:07:39.960 areas with a lot of fast food are there 0:07:37.520,0:07:41.910 sidewalks in your neighborhood that have 0:07:39.960,0:07:45.150 curb cuts that lead into other 0:07:41.910,0:07:50.120 neighborhoods the financial aspect of it 0:07:45.150,0:07:53.789 which is an area which is of an emerging 0:07:50.120,0:07:56.460 health-related area that companies are 0:07:53.789,0:07:58.169 starting to focus more on is how do you 0:07:56.460,0:08:01.199 manage your finances and how do you 0:07:58.169,0:08:03.740 educate your employees to do that so 0:08:01.199,0:08:07.710 Bitcoin is an area that could easily 0:08:03.740,0:08:11.090 become an alternative financial 0:08:07.710,0:08:14.090 opportunity or education piece for 0:08:11.090,0:08:16.710 individuals and for companies and for 0:08:14.090,0:08:17.960 government entities to educate on if 0:08:16.710,0:08:20.940 they ever thought that that was 0:08:17.960,0:08:23.690 something that they wanted to do but it 0:08:20.940,0:08:26.610 looks like most likely they'd rather 0:08:23.690,0:08:29.460 focus on their on their dirty fiat 0:08:26.610,0:08:31.020 versus Bitcoin and then the last thing 0:08:29.460,0:08:34.320 is going to be you know the social 0:08:31.020,0:08:37.370 aspect of Health and a lot of those same 0:08:34.320,0:08:40.740 things and same dimensions are in 0:08:37.370,0:08:43.680 Bitcoin and I kind of take that 0:08:40.740,0:08:47.010 population health approach to Bitcoin 0:08:43.680,0:08:49.829 which is interesting to me to look at 0:08:47.010,0:08:51.730 something that I'm not an economist I'm 0:08:49.829,0:08:54.490 not develop 0:08:51.730,0:08:58.330 but i'm somebody who does my own 0:08:54.490,0:09:01.060 research and understands some of the 0:08:58.330,0:09:04.870 behavioral aspects only because of my 0:09:01.060,0:09:07.330 area of expertise yeah that makes a lot 0:09:04.870,0:09:09.180 of sense and i'm happy that i realize 0:09:07.330,0:09:13.650 that there are so many fields of work 0:09:09.180,0:09:17.650 which bitcoin can definitely improve and 0:09:13.650,0:09:20.850 also it just proves to us that it's not 0:09:17.650,0:09:24.490 just developers and economists and 0:09:20.850,0:09:27.640 journalists that this space needs and we 0:09:24.490,0:09:30.490 need people from all types of working 0:09:27.640,0:09:32.500 sectors just to be able to understand 0:09:30.490,0:09:36.400 the full potential of this disruptive 0:09:32.500,0:09:39.760 financial technology I couldn't agree 0:09:36.400,0:09:43.300 any more with that it also proves that 0:09:39.760,0:09:45.370 point which somebody said to me during 0:09:43.300,0:09:50.020 the podcast but I don't remember exactly 0:09:45.370,0:09:52.510 whom that if you come from a background 0:09:50.020,0:09:55.900 you're going to look into Bitcoin and 0:09:52.510,0:09:58.180 try to apply it specifically into your 0:09:55.900,0:10:00.910 field of work and then spend some time 0:09:58.180,0:10:02.800 researching and figuring out how you can 0:10:00.910,0:10:04.810 do something and probably the first 0:10:02.800,0:10:06.850 impulse that you have is that you can 0:10:04.810,0:10:09.340 put stuff on the blockchain and you can 0:10:06.850,0:10:13.210 create a separate product call which 0:10:09.340,0:10:14.800 serves a particular purpose but it takes 0:10:13.210,0:10:17.710 some time to realize that it's actually 0:10:14.800,0:10:20.340 a bad idea and that there are computer 0:10:17.710,0:10:23.730 scientists who can do it without 0:10:20.340,0:10:27.029 wasteful block chains and implement 0:10:23.730,0:10:29.920 better databases 0:10:27.029,0:10:31.510 did you think of putting medical records 0:10:29.920,0:10:34.680 on the blockchain or did you think that 0:10:31.510,0:10:39.639 it's a good idea back in 2017 0:10:34.680,0:10:44.019 you know I first when I was first 0:10:39.639,0:10:45.430 introduced to cryptocurrencies I there 0:10:44.019,0:10:46.779 was a lot of talk about that you know 0:10:45.430,0:10:49.600 putting avocado on the blockchain 0:10:46.779,0:10:53.199 putting you know bottled waters on the 0:10:49.600,0:10:55.269 blockchain my area is not so much in the 0:10:53.199,0:10:57.389 medical record that is an area that 0:10:55.269,0:11:01.660 actually first when I thought about it 0:10:57.389,0:11:04.300 applied but I am more in the service and 0:11:01.660,0:11:08.589 solution and the development of program 0:11:04.300,0:11:13.839 so it took me a little bit to start to 0:11:08.589,0:11:17.220 see Bitcoin and crypto currencies but 0:11:13.839,0:11:21.519 Bitcoin specifically as an avenue to 0:11:17.220,0:11:25.240 provide solutions at a relatively much 0:11:21.519,0:11:32.829 lower cost today but with the potential 0:11:25.240,0:11:35.260 of that value being being there over the 0:11:32.829,0:11:39.910 course of somebody's progress through a 0:11:35.260,0:11:42.040 program of course this is one of the 0:11:39.910,0:11:44.800 advantages of sound money it's not 0:11:42.040,0:11:47.920 inflated it doesn't lose value over time 0:11:44.800,0:11:50.350 and in relation to the inflationary 0:11:47.920,0:11:54.269 currencies it actually becomes more 0:11:50.350,0:11:54.269 valuable as time passes 0:11:54.839,0:12:02.350 absolutely and I looked at that in the 0:11:57.069,0:12:05.980 same way as learning how to eat healthy 0:12:02.350,0:12:09.730 or learning a physical activity routine 0:12:05.980,0:12:14.319 or being involved in athletics or an 0:12:09.730,0:12:16.959 exercise group that in the long run the 0:12:14.319,0:12:20.259 immediate results of learning those 0:12:16.959,0:12:23.079 skills are not almost are not always 0:12:20.259,0:12:25.269 realized in the moment over time after a 0:12:23.079,0:12:27.309 month of being involved a year of being 0:12:25.269,0:12:31.569 involved three years of being involved 0:12:27.309,0:12:34.389 that one week worth of education can be 0:12:31.569,0:12:35.860 decades worth of value to you 0:12:34.389,0:12:40.209 and that's one of the ways that I 0:12:35.860,0:12:42.550 actually related health in general and 0:12:40.209,0:12:45.329 health promotion and public health 0:12:42.550,0:12:49.779 directly to what I was learning about 0:12:45.329,0:12:51.430 Bitcoin from some of the from some of 0:12:49.779,0:12:54.249 the innovators and and some of those 0:12:51.430,0:12:58.720 individuals who are putting out a lot of 0:12:54.249,0:13:01.019 that great content for us right you know 0:12:58.720,0:13:04.300 what I was thinking of right now 0:13:01.019,0:13:09.399 basically you deal with public education 0:13:04.300,0:13:11.290 and relationship health and I see this 0:13:09.399,0:13:14.290 big trend that Bitcoin of people 0:13:11.290,0:13:17.379 becoming carnivores and only only eating 0:13:14.290,0:13:19.660 meat and from your perspective as 0:13:17.379,0:13:23.920 somebody who works for a governmental 0:13:19.660,0:13:26.529 agency which basically issues advice on 0:13:23.920,0:13:28.959 how to live a healthy life do you think 0:13:26.529,0:13:33.610 that's healthy or is it a little too 0:13:28.959,0:13:36.579 much the only meat you know I am NOT a 0:13:33.610,0:13:39.249 dietician okay but and I'll put that 0:13:36.579,0:13:42.550 with the caveat but what I will say is 0:13:39.249,0:13:45.699 that everybody is different we are all 0:13:42.550,0:13:49.959 very complex organisms and we all 0:13:45.699,0:13:52.209 respond completely different to the 0:13:49.959,0:13:54.279 foods that we eat the types of activity 0:13:52.209,0:13:57.459 that we're engaged in we all handle 0:13:54.279,0:13:59.949 stress differently we all have different 0:13:57.459,0:14:03.370 sleep patterns we all live in different 0:13:59.949,0:14:07.960 communities with different social 0:14:03.370,0:14:12.160 support groups so I believe for some 0:14:07.960,0:14:17.160 individuals that is the perfect approach 0:14:12.160,0:14:20.649 I am an advocate for individuals eating 0:14:17.160,0:14:22.360 me I'm an advocate for individuals 0:14:20.649,0:14:28.020 understanding where their food comes 0:14:22.360,0:14:31.300 from looking at wholesome foods that 0:14:28.020,0:14:33.700 people can easily access and are 0:14:31.300,0:14:35.709 affordable and I believe that that's 0:14:33.700,0:14:38.649 going to be different for everybody so 0:14:35.709,0:14:41.230 when we look at things like the Bitcoin 0:14:38.649,0:14:43.060 Twitter or crypto Twitter you know 0:14:41.230,0:14:47.800 people don't realize it really is an 0:14:43.060,0:14:53.290 echo chamber just like if I'm on NFL 0:14:47.800,0:14:55.480 Twitter and there is a certain echo that 0:14:53.290,0:14:58.540 occurs in some of those maybe you know 0:14:55.480,0:15:00.040 Tom Brady is a cheating liar and most 0:14:58.540,0:15:02.220 people kind of echo that around and some 0:15:00.040,0:15:04.899 people may not believe that that's true 0:15:02.220,0:15:09.190 but but the same thing kind of occurs in 0:15:04.899,0:15:11.260 in Bitcoin Twitter in and just like you 0:15:09.190,0:15:14.080 know what people call themselves toxic 0:15:11.260,0:15:15.250 plants and and some of those individuals 0:15:14.080,0:15:17.620 I think are just a little bit more 0:15:15.250,0:15:20.470 assertive and more willing to discuss 0:15:17.620,0:15:25.209 their experience with eating me and 0:15:20.470,0:15:28.000 being full carnival or maximalists do I 0:15:25.209,0:15:31.450 think that that's appropriate I think 0:15:28.000,0:15:33.480 there's some people it absolutely is and 0:15:31.450,0:15:37.240 for some other people they may have a 0:15:33.480,0:15:39.400 intolerance or a sensitivity to me and 0:15:37.240,0:15:41.740 those are still things that we're all 0:15:39.400,0:15:46.480 still trying to find out they're still 0:15:41.740,0:15:48.790 not nutrition science is one of the ones 0:15:46.480,0:15:51.970 that's lacking the most evidence I will 0:15:48.790,0:15:53.860 say as we learn more about some of the 0:15:51.970,0:15:57.779 things that were going on in the 70s and 0:15:53.860,0:16:01.810 80s in terms of stigmatizing fat and 0:15:57.779,0:16:05.380 reducing some of that responsibility off 0:16:01.810,0:16:07.750 of sugar which has kind of changed the 0:16:05.380,0:16:10.510 American diet I think all of those 0:16:07.750,0:16:15.850 things do play a role but we've got to 0:16:10.510,0:16:17.920 be honest in thinking about you know 0:16:15.850,0:16:19.279 that our stuff that what we do and what 0:16:17.920,0:16:24.170 works for us is not what works for 0:16:19.279,0:16:27.290 everybody right I guess that's the best 0:16:24.170,0:16:29.300 kind of advice anyone can give just do 0:16:27.290,0:16:31.850 whatever feels right and whatever makes 0:16:29.300,0:16:36.050 you feel healthy and full of energy 0:16:31.850,0:16:37.490 after you eat right and you know there 0:16:36.050,0:16:41.420 are some things that we absolutely know 0:16:37.490,0:16:46.069 you know hydrogenated oils the impact of 0:16:41.420,0:16:47.420 sugar and sweet beverages those things 0:16:46.069,0:16:51.199 are absolutely we know the data is out 0:16:47.420,0:16:53.959 right since the 70s and since the 0:16:51.199,0:16:55.370 dietary guidelines of the u.s. Dietary 0:16:53.959,0:16:58.129 Guidelines since I've been putting those 0:16:55.370,0:17:02.559 out about every 10 years there was a 0:16:58.129,0:17:06.890 huge push in the late 80s early 90s to 0:17:02.559,0:17:10.339 stigmatize fat and since that point 0:17:06.890,0:17:15.730 since we have done that we have seen a 0:17:10.339,0:17:20.000 dramatic increase in obesity in the 0:17:15.730,0:17:22.669 consumption of fatty foods and highly 0:17:20.000,0:17:25.399 processed foods and we've seen a direct 0:17:22.669,0:17:29.530 result of that is we have a population 0:17:25.399,0:17:32.960 that from 10 years ago we've seen 0:17:29.530,0:17:37.610 obesity rates significantly climbed from 0:17:32.960,0:17:44.770 around 30% to getting closer to 40% of 0:17:37.610,0:17:47.809 adults are obese or or highly overweight 0:17:44.770,0:17:50.179 using you know a metric of BMI that I 0:17:47.809,0:17:52.700 won't get into that today in terms of 0:17:50.179,0:17:54.679 its complete validity but we know that 0:17:52.700,0:17:58.610 we're trending to a much unhealthier 0:17:54.679,0:18:01.039 population and a lot of that has to do 0:17:58.610,0:18:03.320 with some of the information that is 0:18:01.039,0:18:06.679 being provided to you from governmental 0:18:03.320,0:18:10.039 agencies and anybody who just like a 0:18:06.679,0:18:12.559 shit corn charlatan is trying to sell 0:18:10.039,0:18:15.890 you something so that you can give them 0:18:12.559,0:18:17.809 something that is a value to to them and 0:18:15.890,0:18:21.230 sometimes that's money sometimes that's 0:18:17.809,0:18:23.510 time sometimes it's attention but we see 0:18:21.230,0:18:26.409 that in almost every industry that that 0:18:23.510,0:18:30.370 we're in but nutrition and 0:18:26.409,0:18:35.830 public health is is you know not not a 0:18:30.370,0:18:38.260 special case okay so now that we 0:18:35.830,0:18:42.159 discussed this and I had the perfect 0:18:38.260,0:18:45.940 opportunity to approach this topic let's 0:18:42.159,0:18:49.299 move on to getting into Bitcoin and I 0:18:45.940,0:18:54.309 guess the first cryptocurrency that you 0:18:49.299,0:18:59.289 bought in 2017 was not Bitcoin it was 0:18:54.309,0:19:03.750 not it was 0.15 light coin at two 0:18:59.289,0:19:06.250 hundred and eighty-five dollars a coin I 0:19:03.750,0:19:07.960 had reached out it's not really bad 0:19:06.250,0:19:11.919 right you could still make a profit a 0:19:07.960,0:19:14.500 twenty three hundred something yeah I 0:19:11.919,0:19:20.169 actually caught it I think it went from 0:19:14.500,0:19:22.990 three hundred and forty you know dropped 0:19:20.169,0:19:25.960 down the to sixty I bought it at 285 my 0:19:22.990,0:19:29.409 friend who told me to buy light point he 0:19:25.960,0:19:31.690 said it's faster it's the silver digital 0:19:29.409,0:19:34.419 silver to bitcoins digital gold it's 0:19:31.690,0:19:38.200 cheaper he said oh man I think you got a 0:19:34.419,0:19:41.020 good price on that and the interesting 0:19:38.200,0:19:43.630 thing was is then he also pointed me to 0:19:41.020,0:19:46.529 additional shit holes he says you can go 0:19:43.630,0:19:52.029 on to this website called Finance and 0:19:46.529,0:19:57.010 you can start to trade your litecoin for 0:19:52.029,0:19:59.640 other points that I've read have a lot 0:19:57.010,0:20:06.549 of potential the two first ones that he 0:19:59.640,0:20:10.240 told me about where XRP and Trump so 0:20:06.549,0:20:13.720 looking back now you know you if you 0:20:10.240,0:20:15.970 hear those two you know okay you know 0:20:13.720,0:20:18.610 this person is a shit corner over there 0:20:15.970,0:20:21.220 just so uneducated on the space that 0:20:18.610,0:20:25.830 those are recommendations to what I 0:20:21.220,0:20:29.380 consider to be a pretty good friend 0:20:25.830,0:20:32.380 right but you could have made worse 0:20:29.380,0:20:34.030 decisions in this regard I remember on 0:20:32.380,0:20:37.990 by Nance there was a lot of speculation 0:20:34.030,0:20:39.230 on the equivalent of penny stocks which 0:20:37.990,0:20:42.169 never went anywhere 0:20:39.230,0:20:45.649 as opposed to like going Tron and what 0:20:42.169,0:20:48.049 was the other one x RP x RP they're 0:20:45.649,0:20:51.139 still around they're still in the top 10 0:20:48.049,0:20:55.730 I guess so you could have made worse 0:20:51.139,0:20:58.720 choices oh I did I thought I was a 0:20:55.730,0:21:04.880 traitor is the next choice that I made I 0:20:58.720,0:21:11.029 a traitor with no understanding of TA or 0:21:04.880,0:21:12.679 how it worked I didn't know anything 0:21:11.029,0:21:15.559 other than he told me a couple people to 0:21:12.679,0:21:19.100 follow and I had a super low time 0:21:15.559,0:21:23.059 preference I was looking for that a 0:21:19.100,0:21:25.490 hundred time coin so I was hopping in 0:21:23.059,0:21:28.370 and out of coins not understanding that 0:21:25.490,0:21:31.279 you know my USD value was maybe staying 0:21:28.370,0:21:35.240 the same but I was losing in Bitcoin 0:21:31.279,0:21:38.600 ratio every single week as I saw even 0:21:35.240,0:21:40.669 with the bad trades I started to trade 0:21:38.600,0:21:43.789 more to try to get more I was putting 0:21:40.669,0:21:46.539 more USD in the buying litecoin I was 0:21:43.789,0:21:49.850 still buying like coin as as kind of the 0:21:46.539,0:21:53.840 the coin that was I was trying to 0:21:49.850,0:21:57.590 accumulate more of and it is something 0:21:53.840,0:22:01.340 that I'm sure many people as they've 0:21:57.590,0:22:04.370 seen the price Bitcoin going up they're 0:22:01.340,0:22:06.950 getting into probably the same exact 0:22:04.370,0:22:08.539 scenario that I got into was thinking 0:22:06.950,0:22:09.350 that you were a traitor with low time 0:22:08.539,0:22:14.779 preference 0:22:09.350,0:22:18.529 I actually was holding about 20,000 0:22:14.779,0:22:24.110 Trung at one point right before it shot 0:22:18.529,0:22:28.909 up to I think it was like 2,000 SATs in 0:22:24.110,0:22:31.220 the ratio and I didn't have sold it 0:22:28.909,0:22:34.789 right before that so then after that I 0:22:31.220,0:22:38.299 basically just bought every top all the 0:22:34.789,0:22:41.840 way down until when Bitcoin was right 0:22:38.299,0:22:45.830 around 6,000 so in the middle of a 2018 0:22:41.840,0:22:48.679 was when I took my money out and I said 0:22:45.830,0:22:51.200 okay I I'm it's not working you know I'm 0:22:48.679,0:22:52.720 putting more money and I'm losing my 0:22:51.200,0:22:54.220 money and I'm not gaining 0:22:52.720,0:22:56.140 in any Bitcoin value I saw I was 0:22:54.220,0:22:57.910 starting to understand reading and 0:22:56.140,0:22:59.440 seeing individuals on Twitter saying you 0:22:57.910,0:23:02.560 have to look at it from the Bitcoin 0:22:59.440,0:23:04.330 ratio you can't be looking at it at USD 0:23:02.560,0:23:06.760 you have to look at it at Bitcoin ratio 0:23:04.330,0:23:09.340 and as I continue to go down I sold it 0:23:06.760,0:23:12.610 all I got out of that I probably lost 0:23:09.340,0:23:16.720 you know I think maybe 500 or so dollars 0:23:12.610,0:23:20.350 which to me at that time is a lot and it 0:23:16.720,0:23:23.590 still has a lot today but at least it 0:23:20.350,0:23:27.190 didn't just a couple weeks later and you 0:23:23.590,0:23:29.680 know it plummets down to to mid 3 3 0:23:27.190,0:23:32.650 thousands and by that point I was 0:23:29.680,0:23:37.710 starting to educate myself a little bit 0:23:32.650,0:23:41.830 more into Bitcoin and Bitcoin only I was 0:23:37.710,0:23:44.680 started to remove some of those TA and 0:23:41.830,0:23:46.780 Chacon charlatans from my Twitter and I 0:23:44.680,0:23:50.320 really didn't do much of anything for 0:23:46.780,0:23:54.910 about 6 months and come around December 0:23:50.320,0:23:59.560 when I see the price you know about 3334 0:23:54.910,0:24:01.210 hundred I started to think ok I think 0:23:59.560,0:24:04.300 I'm gonna put a little bit more money 0:24:01.210,0:24:07.630 and if I do it I'm gonna put it only a 0:24:04.300,0:24:10.960 big point and I slowly started to put 0:24:07.630,0:24:13.570 money back into Bitcoin but I fine I 0:24:10.960,0:24:17.340 found myself not learning anything I 0:24:13.570,0:24:22.120 would see Bitcoin Spica you know to 0:24:17.340,0:24:24.550 3,700 and I would sell it and then it 0:24:22.120,0:24:27.460 would you know go up even more and I 0:24:24.550,0:24:29.800 would buy more at 3900 and when it was 0:24:27.460,0:24:32.140 hovering around 4,000 I was buying it it 0:24:29.800,0:24:36.130 would go down to 38 with a dip and I 0:24:32.140,0:24:38.500 would sell it at a lost and I kept 0:24:36.130,0:24:41.110 finding myself wanting to get back in 0:24:38.500,0:24:45.430 the USD and I don't know what it was 0:24:41.110,0:24:47.980 other than just Brady from citizen 0:24:45.430,0:24:51.350 Bitcoin but it really well is the fault 0:24:47.980,0:24:55.010 Keynesian you know I was just 0:24:51.350,0:25:00.260 constantly in this wanting to look at it 0:24:55.010,0:25:02.179 in USD value and not Bitcoin so I 0:25:00.260,0:25:04.270 started to do just that a little bit 0:25:02.179,0:25:07.429 more research looking at it looking at 0:25:04.270,0:25:09.590 and the unfortunate thing is I was I was 0:25:07.429,0:25:12.260 learning a lot of it from tone Vaes at 0:25:09.590,0:25:14.440 the time and not that there's anything 0:25:12.260,0:25:18.260 wrong with that other than the fact that 0:25:14.440,0:25:20.450 they kept putting this damn hyper wave 0:25:18.260,0:25:23.150 in my mind and it just sounded like it 0:25:20.450,0:25:25.280 was so legit that I kept expecting it to 0:25:23.150,0:25:26.990 go lower so even though I was getting 0:25:25.280,0:25:30.799 these great prices and putting this 0:25:26.990,0:25:33.770 money in with every dip and every little 0:25:30.799,0:25:35.539 candle I was selling it off with the 0:25:33.770,0:25:37.520 thought that I could make twenty bucks 0:25:35.539,0:25:41.000 here and when it dropped down to a 0:25:37.520,0:25:46.280 thousand that I would have more Bitcoin 0:25:41.000,0:25:51.940 and it wasn't until it was actually when 0:25:46.280,0:25:58.820 I I started following peer Rashard and 0:25:51.940,0:26:00.710 he had his lightning note launcher and I 0:25:58.820,0:26:05.600 downloaded it I got it on my computer 0:26:00.710,0:26:08.590 and I started to just think in Bitcoin 0:26:05.600,0:26:14.210 and started to immerse myself in 0:26:08.590,0:26:16.340 following the appropriate you know on 0:26:14.210,0:26:19.640 the appropriate individuals reading the 0:26:16.340,0:26:23.659 as much as I could about the white paper 0:26:19.640,0:26:26.210 I read the white paper several times I I 0:26:23.659,0:26:28.039 was just starting to get myself into the 0:26:26.210,0:26:32.510 point where I was approaching it more 0:26:28.039,0:26:33.950 like I do the work that I that I do in 0:26:32.510,0:26:37.159 public health the research that I've 0:26:33.950,0:26:40.039 done in my past instead of somebody who 0:26:37.159,0:26:42.740 was trying to get rich quick it was 0:26:40.039,0:26:45.950 always I was trying to find that scheme 0:26:42.740,0:26:48.500 even though I did not understand I 0:26:45.950,0:26:50.390 didn't understand cryptocurrency I 0:26:48.500,0:26:53.330 didn't understand Bitcoin I didn't 0:26:50.390,0:26:56.030 understand the differences at that time 0:26:53.330,0:27:00.320 but I I really began to focus on Bitcoin 0:26:56.030,0:27:03.260 only and from once I did that a lot of 0:27:00.320,0:27:04.430 things changed I started to connect the 0:27:03.260,0:27:08.930 dots on 0:27:04.430,0:27:11.290 how Bitcoin how the higher time 0:27:08.930,0:27:14.900 preference approach is so much 0:27:11.290,0:27:19.100 applicable to things that I know and 0:27:14.900,0:27:20.840 started to trust that be that the 0:27:19.100,0:27:22.940 research that I was looking at that the 0:27:20.840,0:27:25.280 articles I was reading the podcast I was 0:27:22.940,0:27:26.660 listening to that there was a reason 0:27:25.280,0:27:29.930 that they made sense because they were 0:27:26.660,0:27:33.190 starting to make sense less of getting 0:27:29.930,0:27:37.100 rich tomorrow or next week or next month 0:27:33.190,0:27:40.550 and I had happened to have bought at you 0:27:37.100,0:27:43.730 know almost the tippy top of the end of 0:27:40.550,0:27:48.230 the last bull market that I got to see 0:27:43.730,0:27:51.040 it unwind and was a lot more confident 0:27:48.230,0:27:53.240 that the individuals who were making 0:27:51.040,0:27:56.480 appropriate calls or writing appropriate 0:27:53.240,0:27:59.450 articles that it came full circle right 0:27:56.480,0:28:01.850 back to him and they didn't change their 0:27:59.450,0:28:04.640 approach I didn't change their view and 0:28:01.850,0:28:07.130 that kind of entrusted me along with 0:28:04.640,0:28:08.810 downloading the note launcher to not 0:28:07.130,0:28:11.300 only just dip my feet but become 0:28:08.810,0:28:14.000 somebody who is truly Bitcoin only sees 0:28:11.300,0:28:18.670 the value of it sees the value of it in 0:28:14.000,0:28:21.980 other fields but also understands that 0:28:18.670,0:28:25.490 new adopters and getting individuals on 0:28:21.980,0:28:29.800 board for any behavior or any solution 0:28:25.490,0:28:31.880 takes time and there's not going to be 0:28:29.800,0:28:33.620 this isn't going to be the last time 0:28:31.880,0:28:37.220 where you'll hear a story similar 0:28:33.620,0:28:39.290 similar to mine and you probably even 0:28:37.220,0:28:40.490 over the course of the last couple you 0:28:39.290,0:28:42.650 know the last two weeks where it was up 0:28:40.490,0:28:44.390 to almost 14,000 I'm sure some people 0:28:42.650,0:28:47.750 were euphoric had heard it from their 0:28:44.390,0:28:49.250 friends by the 14,000 so that 10,000 0:28:47.750,0:28:52.820 expecting maybe that it's going to drop 0:28:49.250,0:28:56.570 the 6,000 there somewhere lower but it 0:28:52.820,0:28:58.490 you have to put yourself in in the right 0:28:56.570,0:29:01.480 position then you have to do your own 0:28:58.490,0:29:05.840 research absolutely every single time 0:29:01.480,0:29:09.500 yeah you told a lot of information there 0:29:05.840,0:29:11.930 and it made me think that you know the 0:29:09.500,0:29:14.740 predictions of tone base which most of 0:29:11.930,0:29:17.270 the times are based on pretty good 0:29:14.740,0:29:17.840 analysis but at the same time he has his 0:29:17.270,0:29:21.230 own up in 0:29:17.840,0:29:23.720 which don't happen to be right most of 0:29:21.230,0:29:26.750 the times and he has this strategy of 0:29:23.720,0:29:29.929 doubling down on whatever he says until 0:29:26.750,0:29:31.850 it happens that he's right but he causes 0:29:29.929,0:29:33.650 a lot of harm and even there was some 0:29:31.850,0:29:36.200 people learned to trade from him which 0:29:33.650,0:29:40.039 in itself is an accomplishment to be 0:29:36.200,0:29:43.279 able to interpret graphs and not predict 0:29:40.039,0:29:46.039 but manage risk and understand what 0:29:43.279,0:29:49.279 you're getting into and what the chances 0:29:46.039,0:29:53.390 are for you to actually make gains or 0:29:49.279,0:29:55.730 lose money well I'm happy that you found 0:29:53.390,0:29:58.130 hero short who has been into the space 0:29:55.730,0:30:02.440 for a long time he is one of the 0:29:58.130,0:30:06.470 cofounders of the Nakamoto Institute and 0:30:02.440,0:30:09.440 he I spoke to him a few months ago and 0:30:06.470,0:30:11.270 he has a background in accounting but he 0:30:09.440,0:30:14.809 ended up becoming a software developer 0:30:11.270,0:30:18.529 and she's a brilliant guy and I'm happy 0:30:14.809,0:30:20.630 that he receives this kind of praise 0:30:18.529,0:30:22.460 because he deserves it and he has 0:30:20.630,0:30:27.380 developed something truly unique with 0:30:22.460,0:30:31.520 the not note Lanter I I completely agree 0:30:27.380,0:30:35.870 when I was you know I have my mine on 0:30:31.520,0:30:38.539 and on a Twitter account and when I 0:30:35.870,0:30:40.490 started kind of with Sasquatch muscle 0:30:38.539,0:30:42.529 and and I've been a lurker for a really 0:30:40.490,0:30:45.380 long time and on my other account and 0:30:42.529,0:30:46.760 and you know I only had I think I 0:30:45.380,0:30:49.220 reached out to him one of my first 0:30:46.760,0:30:51.380 tweets I think even was hey you know 0:30:49.220,0:30:53.929 download it's an old launcher it worked 0:30:51.380,0:30:56.360 really well and he followed me back and 0:30:53.929,0:30:59.510 I think you know I only had like seven 0:30:56.360,0:31:02.090 followers at the time and it was it was 0:30:59.510,0:31:07.940 actually one of the most exciting things 0:31:02.090,0:31:10.340 that I've had occur just in that realm 0:31:07.940,0:31:14.960 of getting into this euphoric okay 0:31:10.340,0:31:17.250 Bitcoin and Bitcoin Twitter there's 0:31:14.960,0:31:19.200 something there right and 0:31:17.250,0:31:22.980 he was it was definitely somebody who 0:31:19.200,0:31:24.720 helped me out in a tone base he actually 0:31:22.980,0:31:26.910 you know although with the you know with 0:31:24.720,0:31:28.380 the trading and all of that I for some 0:31:26.910,0:31:30.450 reason I thought that that's what was 0:31:28.380,0:31:33.330 necessary as being involved in Bitcoin 0:31:30.450,0:31:35.010 is that's what people did but as I I was 0:31:33.330,0:31:36.510 involved a little bit more he he he 0:31:35.010,0:31:38.940 definitely calls out the shit corners 0:31:36.510,0:31:41.370 and and he did help to turn me into a 0:31:38.940,0:31:44.190 Bitcoin maximalist but then once I got 0:31:41.370,0:31:47.700 into the right circles on Twitter you 0:31:44.190,0:31:49.950 know I became a Hodler and when I knew I 0:31:47.700,0:31:52.049 was being preached just to go back to 0:31:49.950,0:31:54.419 when I bought it at all-time highs at 0:31:52.049,0:31:56.669 the beginning of 2018 when I was doing 0:31:54.419,0:31:59.250 some trading they were telling me kind 0:31:56.669,0:32:00.870 of the same thing some of the Twitter 0:31:59.250,0:32:03.419 shellingtons they were saying you know 0:32:00.870,0:32:05.880 just huddle you know yeah it's okay just 0:32:03.419,0:32:07.140 buy more and dollar-cost average and 0:32:05.880,0:32:10.980 huddle but they were telling me to do 0:32:07.140,0:32:13.049 that with shit coins and so the concept 0:32:10.980,0:32:14.520 I understood it but when I started to 0:32:13.049,0:32:19.250 see the hot lards 0:32:14.520,0:32:22.350 and the concept of modeling with Bitcoin 0:32:19.250,0:32:26.850 that is really where it was reinforced 0:32:22.350,0:32:30.750 and and I've become a you know a Hodler 0:32:26.850,0:32:36.150 of last resort and and hoping to you 0:32:30.750,0:32:38.820 know set myself up my my family up my 0:32:36.150,0:32:40.919 son and up for for the opportunity to be 0:32:38.820,0:32:42.600 like okay he was on the right track he 0:32:40.919,0:32:46.890 got himself some Bitcoin and there's 0:32:42.600,0:32:50.520 fruits to that end some some way down 0:32:46.890,0:32:52.830 the road not sure when but sometime now 0:32:50.520,0:32:54.480 that I think about it you acted just 0:32:52.830,0:32:57.690 like these people who wants to lose my 0:32:54.480,0:32:59.669 weight within a week you bought some 0:32:57.690,0:33:02.130 kind of cryptocurrency and expected to 0:32:59.669,0:33:06.480 have the family the fabulous gains that 0:33:02.130,0:33:08.910 you saw on mainstream media in 2017 and 0:33:06.480,0:33:11.580 then you just kept going hoping that 0:33:08.910,0:33:14.010 something special it happened and that 0:33:11.580,0:33:19.200 you would basically get that lucky run 0:33:14.010,0:33:22.830 and I guess this is more can gambling 0:33:19.200,0:33:25.950 than anything else you're just shooting 0:33:22.830,0:33:30.000 in the dark hoping that you get done 0:33:25.950,0:33:30.659 that 100 X or 1000 X with some kind of 0:33:30.000,0:33:34.139 obscure 0:33:30.659,0:33:35.970 which you know nothing about but sounds 0:33:34.139,0:33:39.779 good it looks promising and people talk 0:33:35.970,0:33:42.139 about it and also it makes a lot of 0:33:39.779,0:33:44.609 sense for people to be Bitcoin only and 0:33:42.139,0:33:48.299 in the long run is the only project 0:33:44.609,0:33:50.549 which has any kind of rationality and 0:33:48.299,0:33:52.799 future and it's the only one of which 0:33:50.549,0:33:57.419 I'm certain that will be around ten 0:33:52.799,0:34:00.359 years from now as if you look at the out 0:33:57.419,0:34:03.869 coins that were being traded in 2013 or 0:34:00.359,0:34:07.529 2014 2015 the only ones that are still 0:34:03.869,0:34:09.270 around are ripple and litecoin the other 0:34:07.529,0:34:11.250 ones just disappeared 0:34:09.270,0:34:13.589 they're not around anymore nobody works 0:34:11.250,0:34:17.669 on them I guess you haven't heard a pure 0:34:13.589,0:34:21.659 coin or named coin or other projects 0:34:17.669,0:34:24.690 like this which looked interesting when 0:34:21.659,0:34:27.950 they got released but had no development 0:34:24.690,0:34:33.119 I guess dogecoin is also pretty 0:34:27.950,0:34:35.339 long-standing yeah you're you're 0:34:33.119,0:34:39.359 absolutely right I did take the same 0:34:35.339,0:34:42.299 approach as that yo-yo dieter I even 0:34:39.359,0:34:45.990 though from my understanding of behavior 0:34:42.299,0:34:47.909 change and encouraging the adoption of 0:34:45.990,0:34:54.210 new behaviors I was literally falling 0:34:47.909,0:34:56.730 into that same trap and those the chick 0:34:54.210,0:35:00.020 coins basically I was I was you're right 0:34:56.730,0:35:04.400 I was falling in to chasing these coins 0:35:00.020,0:35:09.390 with little research or understanding of 0:35:04.400,0:35:13.079 what they were what their ultimate use 0:35:09.390,0:35:15.809 case was you know I was having you know 0:35:13.079,0:35:19.020 I'd split my Bitcoin into 10 different 0:35:15.809,0:35:21.869 alt coins and every once in a while one 0:35:19.020,0:35:23.430 of them would get a pump and dump a yeah 0:35:21.869,0:35:27.059 basically a pump and dump and I'd catch 0:35:23.430,0:35:29.309 it with a you know with limit sell order 0:35:27.059,0:35:33.150 that I just happened to set at some 0:35:29.309,0:35:36.829 arbitrary value that I had no 0:35:33.150,0:35:38.640 understanding of and I and I don't I 0:35:36.829,0:35:42.630 suspect that there's a lot of other 0:35:38.640,0:35:44.190 people who who will fall into that trap 0:35:42.630,0:35:46.109 once you 0:35:44.190,0:35:49.770 the price of Bitcoin going up and you 0:35:46.109,0:35:53.460 get on onto Twitter and you see just the 0:35:49.770,0:35:57.750 mass of everybody having and trying to 0:35:53.460,0:36:00.089 show you basically trying to take your 0:35:57.750,0:36:02.520 Bitcoin if you have it or trying to get 0:36:00.089,0:36:05.670 you to never even get into that area and 0:36:02.520,0:36:07.920 hopefully lose sight of you know lose 0:36:05.670,0:36:11.510 all your money and then kind of be fed 0:36:07.920,0:36:15.630 up with crypto and basically just leave 0:36:11.510,0:36:18.950 and I know a lot of cases of people who 0:36:15.630,0:36:21.420 are only around when the good times roll 0:36:18.950,0:36:23.460 whenever there is a bear market or a 0:36:21.420,0:36:26.280 price correction they just leave and say 0:36:23.460,0:36:29.220 this is not for me but then they see the 0:36:26.280,0:36:31.319 news about the price increase and that's 0:36:29.220,0:36:33.690 when they buy and once again and it's 0:36:31.319,0:36:36.690 like a never-ending cycle where they get 0:36:33.690,0:36:38.670 burned and this is also why even though 0:36:36.690,0:36:42.599 it's very irrational for people to buy 0:36:38.670,0:36:45.480 alkynes they basically rely on human 0:36:42.599,0:36:48.900 greed there will always be somebody 0:36:45.480,0:36:52.589 hoping that the project would find some 0:36:48.900,0:36:55.109 kind of purpose on the market and there 0:36:52.589,0:36:59.490 will always be people talking bad stuff 0:36:55.109,0:37:01.650 about Bitcoin so as long as there are 0:36:59.490,0:37:03.390 really people willing to put their fiat 0:37:01.650,0:37:06.089 money into whatever cryptocurrency 0:37:03.390,0:37:08.910 project looks promising to them there 0:37:06.089,0:37:13.950 will be what they call the outseason 0:37:08.910,0:37:16.650 where random out coins come how on top 0:37:13.950,0:37:19.500 in terms of daily gains and they show 0:37:16.650,0:37:22.470 promise only financially but then again 0:37:19.500,0:37:24.510 they have a low volume which means that 0:37:22.470,0:37:28.559 they can be manipulated in terms of 0:37:24.510,0:37:30.869 price by rather small amounts of money 0:37:28.559,0:37:35.039 usually bitcoins that are flowing into 0:37:30.869,0:37:36.539 the trades and also the founders of the 0:37:35.039,0:37:38.910 project have a lot of insider 0:37:36.539,0:37:44.190 information and they're able to call the 0:37:38.910,0:37:48.140 shots and be the conductors of pump and 0:37:44.190,0:37:50.430 dump schemes which is nasty if this was 0:37:48.140,0:37:53.940 regulated in any way but it's impossible 0:37:50.430,0:37:55.840 to become regulated there would be a lot 0:37:53.940,0:37:57.430 of people going to jail 0:37:55.840,0:37:59.980 and from this perspective I guess 0:37:57.430,0:38:03.520 Satoshi Nakamoto did a great job when 0:37:59.980,0:38:07.990 she just left and she also left the 0:38:03.520,0:38:11.070 million bitcoins in his wallet and some 0:38:07.990,0:38:13.570 people speculate that they are a way of 0:38:11.070,0:38:15.520 passing on the trust that the 0:38:13.570,0:38:18.070 cryptography works and there is nobody 0:38:15.520,0:38:21.880 who can hack into your wallet and steal 0:38:18.070,0:38:24.070 your bitcoins as long as satoshis coins 0:38:21.880,0:38:28.660 aren't there you can just trust the 0:38:24.070,0:38:30.640 system that is that is absolutely right 0:38:28.660,0:38:32.920 I see that as well I think that that 0:38:30.640,0:38:35.380 million dollars locked or those million 0:38:32.920,0:38:39.070 coins locked up is definitely a trust 0:38:35.380,0:38:42.430 factor for many of us and and you know 0:38:39.070,0:38:44.650 there's that's always why that kind of 0:38:42.430,0:38:47.200 an attack vector is you know who is 0:38:44.650,0:38:50.140 Satoshi you know what is gonna happen 0:38:47.200,0:38:51.520 with these coins at some point in the 0:38:50.140,0:38:52.900 future and what's that going to mean for 0:38:51.520,0:38:55.750 the price are they going to pull or 0:38:52.900,0:38:58.810 Charlie Lee and and sell at the you know 0:38:55.750,0:39:02.680 three three hundred and and you know 0:38:58.810,0:39:04.450 it's what's gonna happen so I know for 0:39:02.680,0:39:07.840 me just getting some skin in the game 0:39:04.450,0:39:11.590 getting some Bitcoin getting the node 0:39:07.840,0:39:14.230 launcher you know now I you know Co 0:39:11.590,0:39:19.810 enjoying through wasabi I have a cold 0:39:14.230,0:39:24.130 card those are the reinforcing behaviors 0:39:19.810,0:39:27.790 of learning about all of the mechanisms 0:39:24.130,0:39:32.310 of you know cold storage of corn join of 0:39:27.790,0:39:35.800 on the amenity of privacy fun durability 0:39:32.310,0:39:38.500 those are for me really honestly some of 0:39:35.800,0:39:41.320 them are foreign concepts I understand 0:39:38.500,0:39:44.380 them but getting that skin in the game 0:39:41.320,0:39:47.020 is definitely something as a you know a 0:39:44.380,0:39:49.330 newer Bitcoin blood is is definitely 0:39:47.020,0:39:52.630 helpful but there's also kind of a 0:39:49.330,0:39:56.620 little bit difficult you know a couple 0:39:52.630,0:39:59.740 examples is if you are wanting to do 0:39:56.620,0:40:02.080 something like you know do a coin joint 0:39:59.740,0:40:04.870 through say samurai or something I had 0:40:02.080,0:40:06.640 brought up recently on Twitter was you 0:40:04.870,0:40:08.290 know have people done some coin joins 0:40:06.640,0:40:09.200 and you know a lot of people were 0:40:08.290,0:40:11.360 telling me in the joint 0:40:09.200,0:40:14.420 telegram get on you know do your own 0:40:11.360,0:40:18.320 research you should just do it there's 0:40:14.420,0:40:20.330 nothing to be worried about but what I 0:40:18.320,0:40:22.220 was come my perspective was you know 0:40:20.330,0:40:24.140 these are kind of I don't have a lot of 0:40:22.220,0:40:26.990 precious Bitcoin I didn't you know I 0:40:24.140,0:40:28.670 didn't accumulate a ton of them when the 0:40:26.990,0:40:30.710 price was lower like I wish I would have 0:40:28.670,0:40:32.930 if I would have known and been involved 0:40:30.710,0:40:35.390 and the ones that I have are precious to 0:40:32.930,0:40:39.440 me from what I understand and how I 0:40:35.390,0:40:40.940 approach it and it is difficult to 0:40:39.440,0:40:43.810 understand that you know we are still 0:40:40.940,0:40:46.760 the early adopters I don't know how many 0:40:43.810,0:40:51.080 individuals have downloaded the world 0:40:46.760,0:40:53.870 cool dojo on a samurai wallet and done 0:40:51.080,0:40:57.110 the coin joint but I would assume it's 0:40:53.870,0:41:02.150 less than 100,000 right and if we're 0:40:57.110,0:41:06.680 looking at encouraging individuals to to 0:41:02.150,0:41:09.440 utilize some of the solutions that have 0:41:06.680,0:41:12.260 been made available well because of 0:41:09.440,0:41:16.310 Bitcoin it definitely is the education 0:41:12.260,0:41:19.490 aspect of it and the recklessness of it 0:41:16.310,0:41:22.010 is sometimes a little bit makes your 0:41:19.490,0:41:24.380 just a little bit hesitant to get 0:41:22.010,0:41:27.080 yourself in a situation where you know 0:41:24.380,0:41:31.280 maybe you lose you know Oh point zero 0:41:27.080,0:41:33.830 zero three Bitcoin it may not be a lot 0:41:31.280,0:41:36.800 of the USD value today but if you're a 0:41:33.830,0:41:39.680 hablar you know that point zero zero 0:41:36.800,0:41:41.690 three is something that you're looking 0:41:39.680,0:41:44.150 at with a high time preference and 0:41:41.690,0:41:51.530 looking out at potentially the values 0:41:44.150,0:41:53.950 lost over that course of time right and 0:41:51.530,0:41:57.860 also we should give a shout-out to 0:41:53.950,0:42:00.200 Rodolfo Novak who designed the cold 0:41:57.860,0:42:02.330 wallet is that what you call it by the 0:42:00.200,0:42:08.000 way yeah it's the cold card wallet 0:42:02.330,0:42:10.370 wallet and it's basically a labor of 0:42:08.000,0:42:13.640 love because he didn't need to release a 0:42:10.370,0:42:15.200 Bitcoin product he could just live off 0:42:13.640,0:42:18.110 the bitcoins that he accumulated 0:42:15.200,0:42:20.690 throughout years but he was not happy 0:42:18.110,0:42:22.610 with the ledger and the treasurer and 0:42:20.690,0:42:26.150 wanted something that suit 0:42:22.610,0:42:28.220 his needs and so far I haven't heard 0:42:26.150,0:42:30.380 anything but praise for the project and 0:42:28.220,0:42:33.890 I wish I could get one of those but 0:42:30.380,0:42:36.440 they're not as easy to find here in 0:42:33.890,0:42:38.660 Europe and even if you find them you pay 0:42:36.440,0:42:41.900 for extra ship shipping costs for the 0:42:38.660,0:42:45.680 DAT and that's not very convenient to do 0:42:41.900,0:42:47.450 it just like the Casa products I really 0:42:45.680,0:42:49.130 wanted to get a casa note but then I 0:42:47.450,0:42:52.610 figured out how much I would have to pay 0:42:49.130,0:42:56.090 for the shipping how much it actually 0:42:52.610,0:42:59.480 costs if you take v80 into consideration 0:42:56.090,0:43:02.870 when you pick it up and if it's a lot 0:42:59.480,0:43:06.230 for you in terms of $300 in here I'd 0:43:02.870,0:43:09.920 have to pay 19% just for the v8c and 0:43:06.230,0:43:12.770 about $100 extra for the shipping which 0:43:09.920,0:43:15.650 is not very convenient so I hope that as 0:43:12.770,0:43:19.130 you said we are still in the early days 0:43:15.650,0:43:21.500 and I guess it's just the privileged few 0:43:19.130,0:43:25.430 who get to use these services and try 0:43:21.500,0:43:27.920 them out and develop them but in order 0:43:25.430,0:43:31.040 to actually scale in terms of adoption 0:43:27.920,0:43:34.220 we have to take into consideration some 0:43:31.040,0:43:37.610 cheaper solutions and one of those that 0:43:34.220,0:43:39.260 I saw came from a Japanese group and the 0:43:37.610,0:43:40.930 name escapes me right now I don't 0:43:39.260,0:43:44.960 remember what it's called but it's 0:43:40.930,0:43:47.630 supposedly the fourth implementation of 0:43:44.960,0:43:50.060 the Lightning Network and it runs on a 0:43:47.630,0:43:53.210 Raspberry Pi zero which costs about 0:43:50.060,0:43:55.910 twenty dollars and the idea that you can 0:43:53.210,0:43:58.160 run a full node of a software 0:43:55.910,0:43:59.230 implementation our technology which is 0:43:58.160,0:44:02.930 very promising 0:43:59.230,0:44:06.140 on a device that's so easy to acquire 0:44:02.930,0:44:07.940 and so accessible gives us hope that in 0:44:06.140,0:44:11.360 the future we might see much more 0:44:07.940,0:44:14.600 adoption as soon as the interfaces 0:44:11.360,0:44:17.540 become friendlier and I guess right now 0:44:14.600,0:44:20.360 the easiest way to run a lightning node 0:44:17.540,0:44:22.640 and you're on the network is to either 0:44:20.360,0:44:25.160 use a custodial wallet but if you want 0:44:22.640,0:44:28.930 to be pure and support the network you 0:44:25.160,0:44:34.369 download zero shards no larger 0:44:28.930,0:44:37.369 right yeah so the price definitely so 0:44:34.369,0:44:39.619 you know I always look at it now as you 0:44:37.369,0:44:41.509 know Matt Odell and Marni Bennett have 0:44:39.619,0:44:45.259 kind of you know stacking SATs and 0:44:41.509,0:44:49.819 they've they've really helped to put 0:44:45.259,0:44:52.910 that as a mindset of you know $300 for 0:44:49.819,0:44:56.630 for a node or you know maybe I get 0:44:52.910,0:44:58.789 myself some some satoshis with that $300 0:44:56.630,0:45:00.499 and the great thing is be Erin Scott has 0:44:58.789,0:45:02.450 his node launcher so there is 0:45:00.499,0:45:04.519 alternatives if you have a spare laptop 0:45:02.450,0:45:06.049 hanging around with enough space and the 0:45:04.519,0:45:08.119 processing power you should be able to 0:45:06.049,0:45:12.829 run it and you're right about the 0:45:08.119,0:45:14.660 custodial wallets you definitely we're 0:45:12.829,0:45:16.970 still in the infancy of a lot of those 0:45:14.660,0:45:20.329 things but the great thing is not only 0:45:16.970,0:45:22.190 are we early and if you do and if you 0:45:20.329,0:45:24.799 are able to get your hands and test out 0:45:22.190,0:45:26.960 some of the things that some of the 0:45:24.799,0:45:30.619 products that are being put out for 0:45:26.960,0:45:33.259 Bitcoin there is great support I mean 0:45:30.619,0:45:36.049 Rodolfo he'll you know he will message 0:45:33.259,0:45:38.269 you back send you a tweet back max 0:45:36.049,0:45:41.299 Hildebrand has a ton of really great 0:45:38.269,0:45:43.670 videos and they're very responsive in 0:45:41.299,0:45:48.920 their telegram group so you can 0:45:43.670,0:45:51.559 definitely find find the information the 0:45:48.920,0:45:52.999 documentation that you need but honestly 0:45:51.559,0:45:54.979 I'm just a little bit more assertive I'm 0:45:52.999,0:45:56.180 more willing to kind of put myself out 0:45:54.979,0:45:58.640 there I've always been kind of a 0:45:56.180,0:46:02.660 technophile I you know I when I 0:45:58.640,0:46:03.829 graduated I was really I really wanted 0:46:02.660,0:46:05.930 to go into computer science I just 0:46:03.829,0:46:07.190 didn't I went a different route and life 0:46:05.930,0:46:09.769 changed a little and life was a little 0:46:07.190,0:46:11.420 bit different for me so I'm a little bit 0:46:09.769,0:46:13.880 more willing to put myself out there but 0:46:11.420,0:46:16.430 as these products get tested and the 0:46:13.880,0:46:19.450 ease of use and the on-ramp becomes 0:46:16.430,0:46:22.099 easier further that next wave of 0:46:19.450,0:46:24.920 adopters and Bitcoin only and Hodler 0:46:22.099,0:46:27.920 xand maximalists I think they will be in 0:46:24.920,0:46:31.839 a good spot of being able to run their 0:46:27.920,0:46:35.710 own node be able to have you know a 0:46:31.839,0:46:38.130 appropriate cold storage that's 0:46:35.710,0:46:42.760 you know that a cost-effective price 0:46:38.130,0:46:44.290 that's secure that's easy to get and 0:46:42.760,0:46:47.080 then potentially start seeing some of 0:46:44.290,0:46:49.450 these in more mainstream outlets even if 0:46:47.080,0:46:52.960 it's you know a couple of the big-box 0:46:49.450,0:46:54.700 retailers you know having hardware 0:46:52.960,0:46:59.350 wallets that you could have in their 0:46:54.700,0:47:01.510 computer department or having you know 0:46:59.350,0:47:05.350 something like being able to purchase a 0:47:01.510,0:47:07.390 Casa node or a novel at you know at the 0:47:05.350,0:47:10.960 Best Buy shelf right next to a Toshiba 0:47:07.390,0:47:15.550 laptop or something like that yeah that 0:47:10.960,0:47:18.400 would be ideal right it would definitely 0:47:15.550,0:47:21.250 you know I used to work at a big box 0:47:18.400,0:47:23.110 store like that and and you do not you 0:47:21.250,0:47:25.870 cannot imagine how many people come in 0:47:23.110,0:47:29.490 to try those out and I think if we're 0:47:25.870,0:47:32.950 trying to get mainstream adoption for 0:47:29.490,0:47:34.990 Bitcoin and get more individuals to 0:47:32.950,0:47:37.170 understand how to use a hardware wallet 0:47:34.990,0:47:41.200 the current way that we're doing it is 0:47:37.170,0:47:45.400 there's barriers to a scalability of how 0:47:41.200,0:47:50.010 do we onboard 0:47:45.400,0:47:50.010 you know half a million new bitcoiners 0:47:50.190,0:48:00.060 how do we do that and we have to partner 0:47:54.550,0:48:03.390 we have to develop connections with 0:48:00.060,0:48:06.340 those on ramps that are pre-existing 0:48:03.390,0:48:08.620 because you know even buying a cup of 0:48:06.340,0:48:10.600 coffee with you know with Bitcoin it 0:48:08.620,0:48:13.720 doesn't seem feasible because it's just 0:48:10.600,0:48:16.410 much easier to use USD and you know some 0:48:13.720,0:48:20.470 of my family members from where I'm from 0:48:16.410,0:48:23.460 I know maybe three people who are 0:48:20.470,0:48:23.460 bitcoiners and 0:48:24.240,0:48:31.380 may not even be full-on maximalists but 0:48:29.010,0:48:34.500 the adoptions on the east and west coast 0:48:31.380,0:48:36.030 kind of let the docs myself kind of 0:48:34.500,0:48:37.860 geographically but the east and west 0:48:36.030,0:48:40.160 coast they're much farther ahead and and 0:48:37.860,0:48:44.430 that's some of the problems that we see 0:48:40.160,0:48:48.390 is the lack of understanding that not 0:48:44.430,0:48:51.900 everybody and not every adoption group 0:48:48.390,0:48:56.550 is the same as the one I am currently in 0:48:51.900,0:48:59.820 or geographically located in or the echo 0:48:56.550,0:49:02.580 chamber that I involve myself in so I'm 0:48:59.820,0:49:04.800 hoping that just with me being a fool on 0:49:02.580,0:49:06.300 blab and asking some ridiculous 0:49:04.800,0:49:08.910 questions that sometimes I'm embarrassed 0:49:06.300,0:49:11.220 to ask just you know how do you use this 0:49:08.910,0:49:12.570 have you done this in a telegram and 0:49:11.220,0:49:14.060 sometimes you get ignored and that's 0:49:12.570,0:49:16.500 okay and you just kind of keep going 0:49:14.060,0:49:18.390 keep asking questions because you know 0:49:16.500,0:49:20.190 in some of those you know you just have 0:49:18.390,0:49:21.690 your messages where a lot of people are 0:49:20.190,0:49:23.190 asking the same things everybody kind of 0:49:21.690,0:49:25.170 wants to know and some of them have 0:49:23.190,0:49:27.600 already maybe been rehashed and they and 0:49:25.170,0:49:31.230 somebody else expects somebody else to 0:49:27.600,0:49:35.430 answer but you really I'm hoping that 0:49:31.230,0:49:38.370 that the plebs like myself are helpful 0:49:35.430,0:49:43.410 outside of just being hostlers helping 0:49:38.370,0:49:46.260 to helping to reinforce the importance 0:49:43.410,0:49:47.760 of having Hardware wallet coin joining 0:49:46.260,0:49:51.800 making sure that you're not reusing your 0:49:47.760,0:49:55.020 addresses doing all of those things that 0:49:51.800,0:49:57.810 you know legacy I'll calm legacy 0:49:55.020,0:50:01.710 bitcoiners know and understand but those 0:49:57.810,0:50:07.500 on the on new new adopters don't have 0:50:01.710,0:50:08.190 any idea about I suppose one of the most 0:50:07.500,0:50:11.280 frightening 0:50:08.190,0:50:13.800 ideas for the people who get into this 0:50:11.280,0:50:16.200 space is the fact that you have to take 0:50:13.800,0:50:20.400 care of your own money and you have to 0:50:16.200,0:50:22.710 take care of your private key and a lot 0:50:20.400,0:50:25.260 of people who can barely remember their 0:50:22.710,0:50:27.840 email password and it's so convenient to 0:50:25.260,0:50:30.660 click that button which says forgot your 0:50:27.840,0:50:33.960 password just type in your email address 0:50:30.660,0:50:36.470 and we'll send to you a link to reset 0:50:33.960,0:50:40.940 your password 0:50:36.470,0:50:44.300 has been the paradigm so far but to some 0:50:40.940,0:50:48.290 it might seem burdensome to handle that 0:50:44.300,0:50:51.380 kind of information and protect it from 0:50:48.290,0:50:53.420 what they perceive as malevolent forces 0:50:51.380,0:50:56.030 whether they might be friends who come 0:50:53.420,0:50:58.310 over at their place and might see their 0:50:56.030,0:51:01.310 private key which is stored in some kind 0:50:58.310,0:51:05.359 of box or hackers on the internet might 0:51:01.310,0:51:07.400 be watching their internet activity or 0:51:05.359,0:51:10.690 even governments which might be 0:51:07.400,0:51:14.770 malevolent and try to steal their 0:51:10.690,0:51:18.230 citizens bitcoins after they ban it so 0:51:14.770,0:51:21.140 it's difficult in this regard and I 0:51:18.230,0:51:24.170 suppose this is why hardware developers 0:51:21.140,0:51:28.670 are also reluctant in terms of joining 0:51:24.170,0:51:30.859 the big retail tech world they don't 0:51:28.670,0:51:33.500 want to sell their products without the 0:51:30.859,0:51:35.359 proper kind of education and you can 0:51:33.500,0:51:37.099 imagine a person walking into a store 0:51:35.359,0:51:41.000 and buying something like anodal 0:51:37.099,0:51:41.690 and then running it and if you run it by 0:51:41.000,0:51:45.349 itself 0:51:41.690,0:51:47.780 I suppose you're helping the network but 0:51:45.349,0:51:50.450 if you start using the interface and are 0:51:47.780,0:51:53.119 not aware of the consequences and don't 0:51:50.450,0:51:55.700 have a proper education which by the way 0:51:53.119,0:51:58.420 doesn't it doesn't come as quickly as 0:51:55.700,0:52:00.800 reading the instruction manual and 0:51:58.420,0:52:03.650 there's something that takes a few 0:52:00.800,0:52:05.960 months of research that's not quite 0:52:03.650,0:52:08.930 ideal and I suppose that's one of the 0:52:05.960,0:52:11.869 the parts that slow down the adoption 0:52:08.930,0:52:15.080 and from this perspective it would be 0:52:11.869,0:52:17.089 much easier to just rely on exchanges 0:52:15.080,0:52:19.250 but that's a bad idea as they are 0:52:17.089,0:52:22.450 trusted third parties that can get 0:52:19.250,0:52:26.020 hacked they're not always honest actors 0:52:22.450,0:52:28.510 they can do lots of crazy stuff and 0:52:26.020,0:52:31.099 resorts to fractional reserves 0:52:28.510,0:52:33.500 fractional reserves if they are allowed 0:52:31.099,0:52:38.570 to and I'm looking at you but the next 0:52:33.500,0:52:40.970 right now yeah no I think there's a you 0:52:38.570,0:52:42.710 know I think there's a lot of shit you 0:52:40.970,0:52:47.020 gotta sift through and I think that's an 0:52:42.710,0:52:52.510 I think in every area Bitcoin and 0:52:47.020,0:52:54.280 excluded so definitely for adoption the 0:52:52.510,0:52:56.050 you know I look at it from the health 0:52:54.280,0:52:59.280 education health promotion perspective 0:52:56.050,0:53:01.810 we're still trying to figure out how to 0:52:59.280,0:53:04.120 educate the general public to do the 0:53:01.810,0:53:09.700 things that they know are healthy for 0:53:04.120,0:53:15.220 them so bitcoin is a much more complex 0:53:09.700,0:53:22.600 idea and concept is going to need that 0:53:15.220,0:53:25.480 front facing forward pushing education 0:53:22.600,0:53:30.430 that comes from those reliable 0:53:25.480,0:53:34.840 trustworthy resources and there are some 0:53:30.430,0:53:38.350 you know there's the the Nakamoto 0:53:34.840,0:53:41.140 Institute is great I know 0:53:38.350,0:53:43.150 Bitcoin only calm is another great 0:53:41.140,0:53:44.710 resource following some of the Bitcoin 0:53:43.150,0:53:48.700 maximalist you find a lot of really 0:53:44.710,0:53:51.160 great resources but at the same time 0:53:48.700,0:53:55.570 there's just so much to wade through 0:53:51.160,0:53:59.350 that it that it'll be interesting to see 0:53:55.570,0:54:02.020 how that area of the next adoption 0:53:59.350,0:54:06.970 occurs is does it occur naturally is it 0:54:02.020,0:54:09.160 gonna be CNBC which I doubt but what is 0:54:06.970,0:54:11.980 it and who is it going to be and what 0:54:09.160,0:54:13.330 platform is it going to occur on is it 0:54:11.980,0:54:15.760 going to be something that's embedded 0:54:13.330,0:54:17.740 like in the cash app where you're able 0:54:15.760,0:54:21.790 to watch videos and you can buy and sell 0:54:17.740,0:54:25.540 and store and send and deposit a Bitcoin 0:54:21.790,0:54:29.500 into I think that's I really see the 0:54:25.540,0:54:32.770 cash app as being potentially one of the 0:54:29.500,0:54:37.890 biggest catalysts for the education of 0:54:32.770,0:54:40.780 some of the more some of the more 0:54:37.890,0:54:44.350 widespread issues that people have like 0:54:40.780,0:54:46.350 taxation or you know handling your own 0:54:44.350,0:54:49.480 keys withdrawing to different addresses 0:54:46.350,0:54:51.550 etc I believe that they have the 0:54:49.480,0:54:56.200 resources and the potential opportunity 0:54:51.550,0:55:00.000 to set up some foundational education on 0:54:56.200,0:55:03.810 Bitcoin that then is able to be utilized 0:55:00.000,0:55:07.340 by individuals who produce products or 0:55:03.810,0:55:10.800 software solutions and haand lers alike 0:55:07.340,0:55:14.010 but that is a I believe that that the 0:55:10.800,0:55:16.470 cash app and others like them I know in 0:55:14.010,0:55:18.510 every region there's there's kind of 0:55:16.470,0:55:21.870 different providers but I believe some 0:55:18.510,0:55:26.180 of those Bitcoin only true kind of to 0:55:21.870,0:55:30.630 the North Star companies really have a 0:55:26.180,0:55:33.540 lot on their shoulders for the adoption 0:55:30.630,0:55:36.480 and education of Bitcoin outside of the 0:55:33.540,0:55:41.900 current channels that we have like 0:55:36.480,0:55:44.310 Twitter Twitter really is the one that's 0:55:41.900,0:55:47.390 you know in telegram as well and then 0:55:44.310,0:55:49.710 some other ways that people communicate 0:55:47.390,0:55:51.900 but those are really I think the big 0:55:49.710,0:55:54.480 drivers right now but how do we continue 0:55:51.900,0:55:57.210 to do what we need to do to educate 0:55:54.480,0:55:58.790 individuals on you know the monetary 0:55:57.210,0:56:03.480 policy we all see it going on 0:55:58.790,0:56:07.440 politically every single day so the 0:56:03.480,0:56:11.730 alternative is there but how do we 0:56:07.440,0:56:14.790 educate them and build those on ramps 0:56:11.730,0:56:19.050 not only in buying Bitcoin but storing 0:56:14.790,0:56:22.520 it managing you know your node how do 0:56:19.050,0:56:26.940 you do your addresses all of the above 0:56:22.520,0:56:29.610 right I guess cash up does a really 0:56:26.940,0:56:33.060 great job at providing an easy interface 0:56:29.610,0:56:35.280 for everybody and I noticed that it's 0:56:33.060,0:56:39.690 quite a popular application in the 0:56:35.280,0:56:41.820 United States among teenagers they I saw 0:56:39.690,0:56:44.490 that they had a few giveaways of US 0:56:41.820,0:56:46.830 dollars during weekends and a lot of 0:56:44.490,0:56:50.730 people are a lot of teenagers sign up 0:56:46.830,0:56:54.360 for the potential 15 bucks they can win 0:56:50.730,0:56:57.050 and I guess the fact that they use it 0:56:54.360,0:56:59.850 and they understand how that works and 0:56:57.050,0:57:01.650 they become curious to see what else is 0:56:59.850,0:57:06.180 there they're going to get into Bitcoin 0:57:01.650,0:57:07.830 inevitably and the moment they do it's 0:57:06.180,0:57:10.610 important to have the kind of 0:57:07.830,0:57:15.020 educational resources to 0:57:10.610,0:57:16.820 guide them from day one so that they 0:57:15.020,0:57:18.860 don't fall for traps and by the way I'm 0:57:16.820,0:57:23.120 surprised you haven't fallen for the 0:57:18.860,0:57:26.570 Bitcoin cash scam as you fell for Tron 0:57:23.120,0:57:29.120 you fell for whatever the other one was 0:57:26.570,0:57:31.220 but you haven't fallen for Bitcoin cash 0:57:29.120,0:57:34.870 you didn't get into that whole narrative 0:57:31.220,0:57:38.390 of the original vision with big block 0:57:34.870,0:57:41.240 scalability and stuff so I guess you 0:57:38.390,0:57:44.270 didn't let me talk long enough I 0:57:41.240,0:57:48.110 actually didn't get into B cash because 0:57:44.270,0:57:52.310 of the up for any reason other than when 0:57:48.110,0:57:54.410 they were listed on coin base and I just 0:57:52.310,0:57:57.290 want I thought of the arbitrage you know 0:57:54.410,0:57:58.550 the price spiked up thirty five hundred 0:57:57.290,0:58:00.290 or whatever it was and then some 0:57:58.550,0:58:02.330 exchanges I was new and some of them it 0:58:00.290,0:58:04.970 was much less than that I was just 0:58:02.330,0:58:07.010 looking at you know can I buy it and 0:58:04.970,0:58:11.170 then could I send it to another exchange 0:58:07.010,0:58:16.130 and then have more USD at the end of it 0:58:11.170,0:58:17.750 so I got I kind of did as long as you 0:58:16.130,0:58:20.560 made money there's nothing wrong with 0:58:17.750,0:58:24.170 that but you didn't really believe in 0:58:20.560,0:58:26.240 satoshis vision and interpreting the 0:58:24.170,0:58:30.500 white paper like it's some kind of 0:58:26.240,0:58:32.720 gospel no I did not and and the thing is 0:58:30.500,0:58:35.150 is you know when people read the white 0:58:32.720,0:58:38.030 paper and they and they look at it as 0:58:35.150,0:58:42.530 some sort of you know you have to read 0:58:38.030,0:58:46.310 it literally but they look at Bitcoin 0:58:42.530,0:58:48.350 and they don't see some of those you 0:58:46.310,0:58:50.960 know they don't see the p2p or the cash 0:58:48.350,0:58:54.470 like you know transactions and you think 0:58:50.960,0:58:56.930 well it really it still is you know from 0:58:54.470,0:58:59.150 I like I said I'm not a huge technical 0:58:56.930,0:59:03.890 into knowing really the background of 0:58:59.150,0:59:05.150 everything but from my perspective when 0:59:03.890,0:59:08.690 they try to plead their case whatever 0:59:05.150,0:59:13.580 arguments that they have I just don't 0:59:08.690,0:59:16.310 see it as being that big of a problem 0:59:13.580,0:59:19.060 that you would need to do what they did 0:59:16.310,0:59:19.060 in fourth off 0:59:20.000,0:59:25.790 it was mostly about politics and issues 0:59:23.150,0:59:30.080 were not new the scaling debate began 0:59:25.790,0:59:32.480 around 2015 I think or even earlier I 0:59:30.080,0:59:34.750 think Mike Hearn who was one of the 0:59:32.480,0:59:38.930 early developers has published a 0:59:34.750,0:59:41.720 proposal around 2010 or 2011 to increase 0:59:38.930,0:59:45.290 the block size to 8 megabytes and that 0:59:41.720,0:59:47.360 the time Satoshi himself responded on 0:59:45.290,0:59:50.120 the forum post and said it's too early 0:59:47.360,0:59:53.360 for this just forget about it let's not 0:59:50.120,0:59:55.970 split the community but from that point 0:59:53.360,0:59:58.190 onwards it was like some sort of agenda 0:59:55.970,1:00:02.420 by people who owned businesses with 0:59:58.190,1:00:05.180 which used Bitcoin to reduce the fees in 1:00:02.420,1:00:07.610 order to they said they wanted to 1:00:05.180,1:00:10.610 increase the the adoption and a lot more 1:00:07.610,1:00:13.610 people to buy it but the engineers were 1:00:10.610,1:00:16.280 not in favor of it they just said it's a 1:00:13.610,1:00:19.160 bad idea the whole points of this 1:00:16.280,1:00:20.780 invention is to be decentralized and the 1:00:19.160,1:00:22.970 more you increase the block size the 1:00:20.780,1:00:26.330 harder it is to synchronize between 1:00:22.970,1:00:28.760 nodes and it's not just a matter of disk 1:00:26.330,1:00:31.310 space it's about Internet bandwidth 1:00:28.760,1:00:33.560 worldwide it's about all these mining 1:00:31.310,1:00:36.530 rigs which maybe exist somewhere in 1:00:33.560,1:00:40.250 China where the internet signal is not 1:00:36.530,1:00:42.200 as strong as you would find on in 1:00:40.250,1:00:44.720 metropolitan areas where they have 1:00:42.200,1:00:47.750 broadband so they were much more 1:00:44.720,1:00:49.490 conservative and said that it's the 1:00:47.750,1:00:52.010 decentralization that has to be 1:00:49.490,1:00:57.710 preserved or else we turn into some kind 1:00:52.010,1:01:02.660 of PayPal 2.0 and the struggle at the 1:00:57.710,1:01:05.720 end of 2016 and early 2017 was to form 1:01:02.660,1:01:08.800 this sort of alliances and you see that 1:01:05.720,1:01:12.530 the signatories of the sever to acts 1:01:08.800,1:01:15.020 protocol which was part of the New York 1:01:12.530,1:01:18.670 agreement are actually business owners 1:01:15.020,1:01:22.880 and exchange owners and it was like 1:01:18.670,1:01:25.490 conglomerate miners and exchanges and 1:01:22.880,1:01:28.220 businesses who wanted Sue's not to 1:01:25.490,1:01:30.440 adjust their business model according to 1:01:28.220,1:01:33.349 the limitations of Bitcoin but changed 1:01:30.440,1:01:37.729 Bitcoin according to the larger amount 1:01:33.349,1:01:39.559 so profit that they could make and okay 1:01:37.729,1:01:43.549 yeah that makes sense if you're a 1:01:39.559,1:01:46.069 business person and I some people who 1:01:43.549,1:01:49.519 signed the New York agreement back in 1:01:46.069,1:01:52.609 2017 have been forgiven and I think this 1:01:49.519,1:01:54.799 CEO of Fabri bill Barrett is one of them 1:01:52.609,1:01:58.339 but then there are people like Roger 1:01:54.799,1:02:00.349 Vere and Erik Voorhees who seem to not 1:01:58.339,1:02:03.339 have learned anything from it and they 1:02:00.349,1:02:08.539 think they have done what was right and 1:02:03.339,1:02:13.009 followed their itas to the utmost extent 1:02:08.539,1:02:16.069 and from this perspective I guess it was 1:02:13.009,1:02:18.229 healthy for the community to split so we 1:02:16.069,1:02:21.589 have these two schools of thought we can 1:02:18.229,1:02:25.009 see which one gets developed in the best 1:02:21.589,1:02:28.670 way and which one may be Bitcoin cash on 1:02:25.009,1:02:31.640 the short term has the advantage of you 1:02:28.670,1:02:34.579 know lower fees and they say it was the 1:02:31.640,1:02:36.470 Toshi's vision but somebody I think it 1:02:34.579,1:02:39.380 was roubles I'm not sure if you follow 1:02:36.470,1:02:41.719 him here's a black stream employee and 1:02:39.380,1:02:45.710 she works with the mesh antennas and 1:02:41.719,1:02:47.869 he's a very ingenious person there's a 1:02:45.710,1:02:54.079 lot of interesting engineering stuff and 1:02:47.869,1:02:56.630 she posted an old version of the bitcoin 1:02:54.079,1:03:01.069 dot org page where it was specifically 1:02:56.630,1:03:04.309 mentioned that the minimum fee was 0.01 1:03:01.069,1:03:06.589 Bitcoin or something and in today's 1:03:04.309,1:03:08.509 money that's a lot but at the time they 1:03:06.589,1:03:10.609 said this treasured as the minimum 1:03:08.509,1:03:13.640 transaction fee as a way of avoiding 1:03:10.609,1:03:19.219 spam in the network as a bitcoin was 1:03:13.640,1:03:20.140 just a few cents it those are you know 1:03:19.219,1:03:21.819 those are some 1:03:20.140,1:03:27.039 those are interesting things to think 1:03:21.819,1:03:30.190 about in terms of you know like you said 1:03:27.039,1:03:32.349 the research approach of it is you know 1:03:30.190,1:03:35.529 you have Bitcoin and then you fork it 1:03:32.349,1:03:37.869 off and then you can compare the 1:03:35.529,1:03:41.380 adoption the scalability the 1:03:37.869,1:03:43.170 functionality so it'll be it'll be 1:03:41.380,1:03:45.910 interesting to see how they approach 1:03:43.170,1:03:47.559 some of the problems and some of the 1:03:45.910,1:03:49.660 issues that we were kind of discussing 1:03:47.559,1:03:54.219 in terms of Bitcoin in its scalability 1:03:49.660,1:03:56.380 with new users and adoption because 1:03:54.219,1:03:58.719 they're gonna run into similar problems 1:03:56.380,1:03:59.709 with much more limited amount of 1:03:58.719,1:04:02.170 individuals who are going to be 1:03:59.709,1:04:05.019 interested so one of the reasons I was 1:04:02.170,1:04:07.150 you know one of the first things I'd 1:04:05.019,1:04:09.039 learned when I got onto crypto Twitter 1:04:07.150,1:04:11.619 was actually that you know be cash was 1:04:09.039,1:04:13.539 getting called a scam and Roger fir was 1:04:11.619,1:04:15.219 you know kind of a charlatan and watched 1:04:13.539,1:04:17.979 couple videos and he's just you know 1:04:15.219,1:04:22.180 it's kind of an idiot he's full an idiot 1:04:17.979,1:04:25.660 most of the time but I I was lucky 1:04:22.180,1:04:29.259 enough to never get into that but my 1:04:25.660,1:04:31.269 friend who actually you know I reached 1:04:29.259,1:04:34.329 out to initially about and he told me 1:04:31.269,1:04:38.499 about litecoin he recently sent me a 1:04:34.329,1:04:39.940 message and said man I just the he's 1:04:38.499,1:04:42.369 like I just took all the money that I 1:04:39.940,1:04:45.549 had had sitting in and my finance and I 1:04:42.369,1:04:48.789 bought a B cash I think it's like be 1:04:45.549,1:04:51.219 cash ABC or whatever it is now and he's 1:04:48.789,1:04:53.619 like I can't believe that bitcoin is 1:04:51.219,1:04:57.130 going up right now he's you know he 1:04:53.619,1:05:00.130 called the King Bitcoin but he still was 1:04:57.130,1:05:02.549 unwilling to just buy anything other 1:05:00.130,1:05:07.180 than shit coins he was still wanting to 1:05:02.549,1:05:11.109 get that Lambo and get you know get rich 1:05:07.180,1:05:13.989 quick so I I can see how some people 1:05:11.109,1:05:16.329 without doing their research can can 1:05:13.989,1:05:19.359 overlook really anything other than 1:05:16.329,1:05:21.789 things that sound good and people who 1:05:19.359,1:05:23.859 make you know try to make their case on 1:05:21.789,1:05:26.170 Twitter and and if you're in an echo 1:05:23.859,1:05:28.930 chamber if you have confirmation bias 1:05:26.170,1:05:33.640 and it's it's very easy to stay in those 1:05:28.930,1:05:36.800 traps as we see Bitcoin 1:05:33.640,1:05:40.340 adoption grow as we see you know less 1:05:36.800,1:05:42.020 satoshis available for everybody those 1:05:40.340,1:05:43.040 individuals to hopefully come around and 1:05:42.020,1:05:46.870 they'll probably come around when the 1:05:43.040,1:05:51.080 prices is much higher or never at all 1:05:46.870,1:05:53.450 well that's fine I guess sometimes I 1:05:51.080,1:05:55.760 think that shit coins are great just 1:05:53.450,1:05:58.160 because you get to learn about how 1:05:55.760,1:06:00.740 Bitcoin works in a way that's less risky 1:05:58.160,1:06:02.840 so if you lose it it's something that 1:06:00.740,1:06:04.730 will not hold a great value in the 1:06:02.840,1:06:08.360 future but at the same time there are 1:06:04.730,1:06:12.440 only 21 million Bitcoin and that's all 1:06:08.360,1:06:14.210 there will ever be so it's important not 1:06:12.440,1:06:17.120 to waste it even there were some times 1:06:14.210,1:06:19.700 when you waste your coins and they can 1:06:17.120,1:06:20.420 never be recovered you actually help the 1:06:19.700,1:06:23.390 others 1:06:20.420,1:06:26.240 you increase the scars the TFG up the 1:06:23.390,1:06:28.790 supply and it helps the price go up in 1:06:26.240,1:06:34.340 this regard as the next wave of high 1:06:28.790,1:06:37.790 demand finds a lower supply but then 1:06:34.340,1:06:41.690 again it's important to once again have 1:06:37.790,1:06:45.470 that kind of education and have the kind 1:06:41.690,1:06:49.670 of videos and tutorials and people who 1:06:45.470,1:06:53.750 are very willing to help and from your 1:06:49.670,1:06:56.960 experience it's not much about the very 1:06:53.750,1:06:58.820 I don't know how I should call it but 1:06:56.960,1:07:01.640 nowadays a lot of people say that 1:06:58.820,1:07:04.370 Bitcoin areas are toxic and there's a 1:07:01.640,1:07:07.880 lot of toxicity and their approach and 1:07:04.370,1:07:10.160 they just do nothing but call every 1:07:07.880,1:07:12.350 finger scam and argue with each other 1:07:10.160,1:07:14.330 but at the same time when you need 1:07:12.350,1:07:17.980 something and you want to learn more 1:07:14.330,1:07:21.200 about let's say the node launcher or 1:07:17.980,1:07:25.820 anything else any kind of software 1:07:21.200,1:07:27.200 product or hardware wallet you find some 1:07:25.820,1:07:28.940 very nice people who are more than 1:07:27.200,1:07:30.890 willing to explain to you how it works 1:07:28.940,1:07:32.210 and tell you what you're doing wrong and 1:07:30.890,1:07:34.880 make sure that you're having a good 1:07:32.210,1:07:38.240 experience and whatever you tell them is 1:07:34.880,1:07:41.420 actually valuable feedback that they can 1:07:38.240,1:07:43.220 use improve and that's how you know that 1:07:41.420,1:07:45.620 we are in the early days because you 1:07:43.220,1:07:46.640 find some of these big names following 1:07:45.620,1:07:50.109 you on Twitter 1:07:46.640,1:07:53.509 responding to DMS and being on telegram 1:07:50.109,1:07:56.480 by showing they're very nice and helpful 1:07:53.509,1:08:00.200 side but once again where's that Success 1:07:56.480,1:08:04.069 City and what is it more specifically 1:08:00.200,1:08:06.769 sometimes I wonder that yeah you know 1:08:04.069,1:08:09.410 and I think the toxicity is just like 1:08:06.769,1:08:13.160 anything else right there are just some 1:08:09.410,1:08:14.960 people who if you were in a room with 1:08:13.160,1:08:17.859 them and there was somebody telling you 1:08:14.960,1:08:20.029 a bullshit story they call them out and 1:08:17.859,1:08:22.460 some people love those people some 1:08:20.029,1:08:24.049 people hate him but we need them why 1:08:22.460,1:08:26.630 because there's a lot of people who say 1:08:24.049,1:08:28.790 a bunch of bullshit and there's a lot of 1:08:26.630,1:08:32.420 us who are passive who would let it just 1:08:28.790,1:08:34.639 go but we also have those friends who 1:08:32.420,1:08:36.319 who we love very much who are the 1:08:34.639,1:08:38.690 assertive type we're going to call them 1:08:36.319,1:08:40.580 out who's gonna make a situation awkward 1:08:38.690,1:08:43.969 because they're gonna call somebody out 1:08:40.580,1:08:48.199 on something that's not factual but that 1:08:43.969,1:08:54.949 benefits us all and as long as they're 1:08:48.199,1:08:57.580 not degrading to somebody or being truly 1:08:54.949,1:09:01.369 cruel in a way that is just unnecessary 1:08:57.580,1:09:04.509 those toxic individuals that support and 1:09:01.369,1:09:10.960 are kind of the frontline fighters for 1:09:04.509,1:09:15.020 all of the bad actors who are trying to 1:09:10.960,1:09:17.569 limit the potential of Bitcoin or limit 1:09:15.020,1:09:19.429 the adoption or stop you from finding 1:09:17.569,1:09:22.810 one of the best things you'll ever find 1:09:19.429,1:09:27.319 in your life there is it is a necessity 1:09:22.810,1:09:29.420 coming from coming from the Wellness 1:09:27.319,1:09:33.080 field you know the the white blood cells 1:09:29.420,1:09:35.270 of the body fight the cancer cells and 1:09:33.080,1:09:39.560 they will fight and fight and fight and 1:09:35.270,1:09:43.310 sometimes you know ultimately it's it's 1:09:39.560,1:09:48.049 for no avail but we do learn from that 1:09:43.310,1:09:50.569 and those toxic plebs are a part of the 1:09:48.049,1:09:52.790 system they're ingrained some of them 1:09:50.569,1:09:55.570 have been here the longest note and have 1:09:52.790,1:09:58.100 seen these charlatans come and go 1:09:55.570,1:10:01.640 whereas I've only been through 1:09:58.100,1:10:03.470 one pair and then potentially what we 1:10:01.640,1:10:04.970 suspect is the beginning of the next 1:10:03.470,1:10:09.740 boom you know like I said I don't know 1:10:04.970,1:10:13.430 anything but they're necessary is that 1:10:09.740,1:10:16.070 for everybody it is not is it is Twitter 1:10:13.430,1:10:19.220 safe space it is not is bitcoin Twitter 1:10:16.070,1:10:20.840 or safe space it's not but they're 1:10:19.220,1:10:25.570 absolutely necessary and I think it's 1:10:20.840,1:10:29.270 it's an important part of the Hodler 1:10:25.570,1:10:30.830 mentality is that we support the idea 1:10:29.270,1:10:31.940 that yeah other people have different 1:10:30.830,1:10:35.420 approaches different ideas different 1:10:31.940,1:10:37.010 shit coins different financial products 1:10:35.420,1:10:42.950 that they want to attach to it to take 1:10:37.010,1:10:45.200 your Bitcoin but end-all-be-all we truly 1:10:42.950,1:10:48.740 believe that bitcoin is is the only one 1:10:45.200,1:10:50.870 that will be left and we'll remember I 1:10:48.740,1:10:53.480 think some of the individuals who got a 1:10:50.870,1:10:58.430 bad rap during the times where where 1:10:53.480,1:11:03.320 people were afraid to be politically 1:10:58.430,1:11:06.560 correct on Twitter at the beginning of 1:11:03.320,1:11:09.230 our discussion we revealed some details 1:11:06.560,1:11:11.510 about your record and how you got into 1:11:09.230,1:11:14.000 shit coins and how long how long it took 1:11:11.510,1:11:17.570 you to discover the virtues of Bitcoin 1:11:14.000,1:11:19.670 and really get into it and let's say 1:11:17.570,1:11:23.060 that let's assume that we have some 1:11:19.670,1:11:25.520 newbies listening right now and we can I 1:11:23.060,1:11:28.600 guess we are in a position where we can 1:11:25.520,1:11:34.460 make some recommendations for them and 1:11:28.600,1:11:36.800 we can establish some lines of chart or 1:11:34.460,1:11:40.640 recommendations for what they can do and 1:11:36.800,1:11:43.100 also suggest some good products that 1:11:40.640,1:11:45.800 they should be using right from the very 1:11:43.100,1:11:49.400 beginning just to get used to what is 1:11:45.800,1:11:52.520 best so let's start with exchanges I 1:11:49.400,1:11:54.650 guess you can I guess that's the first 1:11:52.520,1:11:58.580 way in which you're going to get any 1:11:54.650,1:12:01.490 Bitcoin not many are fortunate enough to 1:11:58.580,1:12:04.940 have a Bitcoin or friend who sells them 1:12:01.490,1:12:08.990 or have access to one of these ATMs and 1:12:04.940,1:12:11.480 they're going to go online and look most 1:12:08.990,1:12:14.210 likely Google or buy Bitcoin 1:12:11.480,1:12:17.390 and they then adjust their behavior 1:12:14.210,1:12:19.670 according to whichever interface they 1:12:17.390,1:12:22.100 find nicer and it's very likely that 1:12:19.670,1:12:23.930 they will end up on point base and at 1:12:22.100,1:12:28.220 this point Queen base has a bad record 1:12:23.930,1:12:30.650 of banning users and taking too much to 1:12:28.220,1:12:33.110 register and asking you for a lot of 1:12:30.650,1:12:36.860 documents during the qia process and 1:12:33.110,1:12:40.060 then taking as long as two weeks to 1:12:36.860,1:12:43.700 allow you to withdraw your funds and 1:12:40.060,1:12:46.520 sometimes actually not sometimes all the 1:12:43.700,1:12:47.840 times that's not convenient I don't 1:12:46.520,1:12:50.330 think that should happen 1:12:47.840,1:12:52.670 it gives Bitcoin a bad name as a 1:12:50.330,1:12:55.250 technology as people will assume that 1:12:52.670,1:13:00.830 it's defaults a Bitcoin for being slow 1:12:55.250,1:13:03.620 and I guess we have better alternatives 1:13:00.830,1:13:06.980 and what do you think is a good exchange 1:13:03.620,1:13:11.060 that you would recommend to people you 1:13:06.980,1:13:14.000 know I I have a cracking account but 1:13:11.060,1:13:16.220 honestly I think if individuals want to 1:13:14.000,1:13:19.040 get in the Bitcoin finding something 1:13:16.220,1:13:22.190 that's Bitcoin only that has no exchange 1:13:19.040,1:13:24.590 or trading platform is best because you 1:13:22.190,1:13:26.660 will get sucked into the gambling aspect 1:13:24.590,1:13:29.720 of how do I take my point one Bitcoin 1:13:26.660,1:13:32.030 and make it one whole Bitcoin and with 1:13:29.720,1:13:35.710 something like the cash app I think 1:13:32.030,1:13:38.239 bitter is another alternative Amber app 1:13:35.710,1:13:43.130 there are some alternatives getting 1:13:38.239,1:13:46.130 Bitcoin learning how do you take it and 1:13:43.130,1:13:48.560 withdraw it to your own wallet 1:13:46.130,1:13:52.670 whether that's samurai or wasabi or the 1:13:48.560,1:13:55.970 two and and green wallet the black 1:13:52.670,1:13:58.580 stream wallet on iOS or the ones that I 1:13:55.970,1:14:00.980 encourage people to use and then like I 1:13:58.580,1:14:03.800 mentioned I have a gold card wallet that 1:14:00.980,1:14:06.650 I use but I would try to I would 1:14:03.800,1:14:08.900 encourage people to avoid anything that 1:14:06.650,1:14:10.910 is going to tempt you to gamble away any 1:14:08.900,1:14:12.950 of your Bitcoin and look for something 1:14:10.910,1:14:16.220 that you can buy with your local 1:14:12.950,1:14:17.920 currency withdraw it as soon as you 1:14:16.220,1:14:22.090 possibly can 1:14:17.920,1:14:24.639 and put it into a mobile wallet whether 1:14:22.090,1:14:29.760 you mix them with wasabi or potentially 1:14:24.639,1:14:34.119 samurai but then get them into a cold 1:14:29.760,1:14:36.310 storage if you can because it's 1:14:34.119,1:14:37.989 difficult to get yourself to trust and 1:14:36.310,1:14:40.480 like you mentioned how do you you know 1:14:37.989,1:14:43.360 the likelihood that you'd lose your keys 1:14:40.480,1:14:45.909 or your passcode or whatever it is it's 1:14:43.360,1:14:47.080 is very high if you especially if you 1:14:45.909,1:14:49.810 don't know what you're doing so for new 1:14:47.080,1:14:52.929 adopters that's why I'm hopeful that 1:14:49.810,1:14:55.510 wasabi and and Samurai I'm gonna Android 1:14:52.929,1:14:59.230 user so I think that those two I'm 1:14:55.510,1:15:02.199 hoping that they the integration with 1:14:59.230,1:15:03.520 cold storage continues to increase on 1:15:02.199,1:15:07.030 that wasabi is they're doing some 1:15:03.520,1:15:10.869 offline SBT type of things but 1:15:07.030,1:15:15.040 definitely that's my recommendation so 1:15:10.869,1:15:16.330 avoid bit max bit max definitely avoid 1:15:15.040,1:15:19.600 that unless you're unless you know what 1:15:16.330,1:15:21.580 you're doing right well a black man I 1:15:19.600,1:15:24.400 got I gotta get going in I appreciate 1:15:21.580,1:15:26.409 the time that we've chatted and I 1:15:24.400,1:15:28.000 apologize for having to kind of leave so 1:15:26.409,1:15:30.070 abruptly I kind of gotta get out of here 1:15:28.000,1:15:32.980 okay this was great and thank you very 1:15:30.070,1:15:35.790 much this has a Squatch how can you be 1:15:32.980,1:15:39.460 followed on Twitter as it was yeah a 1:15:35.790,1:15:42.550 Sasquatch muscle that's where I am on 1:15:39.460,1:15:45.400 Twitter I'm in Bitcoin clubs and the 1:15:42.550,1:15:46.150 taco clubs on telegram you can find me 1:15:45.400,1:15:48.100 there 1:15:46.150,1:15:51.340 I appreciate it white and it's been a 1:15:48.100,1:15:54.150 good time man okay talk to you later bye 1:15:51.340,1:15:54.150 take care