40 Burst results for "Bitcoin"
Fresh update on "bitcoin" discussed on Bloomberg Daybreak Asia
"Thank you. Geeta. Geeta Wrong, Jonathan. They're Bloomberg Intelligence, Tech and media analyst with us live. Bloomberg. Daybreak Asian Let's get markets now with Doug Prisoner Can I give you a quote on Disney in late trading stock is down 4%. Let's talk a little bit about the crypto currency situation. Bitcoin was down during the New York session by more than 15% Today. Elon Musk, the CEO of Tesla's continued his attack on the crypto currency. He called recent trends and energy consumption for Bitcoin mining kind of insane and then later in the day, we learned that the world's biggest crypto currency exchange by Nance Holdings, now under investigation by not only the Department of justice, but the Internal Revenue Service is well, we're told this enquiry includes seeking information from those who have a little bit of insight into finances businesses. Sounds terms of overall equity price action. Today, we moved higher after three days of weakness. The day began with a hot rating on producer prices, but it seemed like the market was more taken by the weekly Jobless claims Data off fresh pandemic loafer first time jobless claims that support of the recovery story. We also had the CDC essentially lifting guidance on mask. Fully vaccinated. People can ditch mask when socializing indoors fully vaccinated people Dow Industrial average today up by 1.3% S and P. 500 a head 1.2% NASDAQ Comp was only hired by 7/10 of 1%. Today We've got the end a little weaker not by much. 109 49 Chicago Nikkei Futures 7 27,030 So we're a little bit above where we were in the cash market yesterday in Tokyo. I'm Doug prisoner at the Bloomberg Interactive Brokers Studio in New York were shot. All right, well, let's have a look at some of those stories, which are making international news..
Tesla Stops Accepting Bitcoin as Payment
"Shane Tesla is no longer accepting or selling Bitcoin Elon Musk cited rapidly increasing use of fossil fuels for mining and transactions. Cryptocurrency plunged. Market analysts see the move is an attempt by Tesla to assuage the concerns of investors who are focused on climate change and
Fresh update on "bitcoin" discussed on The Trader Cobb Crypto Podcast
"Now did everybody have your well. Welcome to try to come kryptonite. Podcasts always out yesterday because Horrible call standard arrest. It was really bad yesterday. Seemed to evacuate a little bit more but today some feel pretty good coach. Yesterday was wild wild. Wild di wasn't as low as it was pretty in sign out the in the creek die with law. Moscow was coming out and Signed longer accept bitcoin. Because of blah blah blah energy blah blah blah. Now if you haven't seen my youtube video where. I pull that theory pot a little bit you'll need to watch it all Otherwise if you turn out any certain point You might get the wrong idea of where i'm coming from. A lot of. It is very sarcastic that sort of vob the video however there are some very serious points their delivered in a sock hostak. Why it's some. It's cold alone is a hypocrite. If you wanna go to youtube and have a look. Big is now as far as a market guys. We've got a couple of interesting little news. Well bitcoin embassy down. And so i went down. Heavily right now is sitting about flat on the damn point. Four percent forty nine thousand two hundred three hundred now We sitting up pretty critical point around that fifty grand mock on just gonna sit back and watch me and it was driven by The news from tesla. On sign. That i would no longer accept bitcoin except Guy figure don't get it anyway but yeah it was a wall waldo a die which those raisins watched i wanted. It feel very well done. Tend to try wanted. I feel well and to. It was just so volatile. God's absolute madness out there I did buy. Bitcoin did put more money into the market. Had some us dollar ted a sitting on the sidelines And i decided. I was going to output bit of that. In on a theory in theory at a wall dates back in the cradles beautifully right now the has slowed a little bit mobile. -tunities there in the next couple of days to get long theorems. The thirty seven hundred thirty three down two point. Four x pay is up three percent of the dole. Thirty video. The next couple of days about what i'm starting to say i'm going to do more research today. I'm gonna look into more data today but just what i say is being potential four acceptable. What the narrative the up have been slightly relating to the market for quite some time now and ayla mosques talking of his bitcoin You know.
Elon Musk Backtracks, Says Tesla Won't Accept Bitcoin
Fresh update on "bitcoin" discussed on Sound ON
"We're gonna get a phone call from Congressman Ami Bera, who also happens to be a doctor. Good lawmaker to talk to about the CDC. Guidance way. Also have al mater, longtime Democratic strategist and a partner of Bronstein. Higher Fuck Hyatt Farber and Shrek on Jeannie Sean Zeyno Bloomberg Politics contributor will have to talk about the fall out from the colonial pipeline hack as well. But before we get to all of that, Let's get a quick market update from Doug Prisoner Hey, Jack. The equity market advanced today. After three days of weakness. We had some inflationary pressure. Our evidence I should save inflationary pressure building at the wholesale level Producer prices last month were up 6/10 of 1%. That was much about forecast. At the same time, though. There was word that weekly jobless claims were now at a fresh pandemic. Logue claims falling by 34,000. So the market kind of focused on the good news and part of the re opening story as well. Especially now that we know CDC is set to announce vaccinated people can often ditch mask when socializing indoors. Today. Dow Industrial average Up by about 1.3% S and P 500 higher by 1.2%. The NASDAQ composite gained 7/10 of 1% We heard from Disney after the bell and the subscriber growth for the Disney Plus Streaming service was disappointing, so those shares are down by about 3.6% right now. Interestingly, long term interest rates dropped today. In spite of that, Peopie I report 10 Year Treasury was last quoted in New York in the yield of 1.65% and more weakness for Bitcoin. It was late yesterday that Elon Musk said the Tesla would suspend vehicle purchases using Bitcoin Today he kind of doubled down on his attack of the crypto currency. He called recent trends in energy consumption for Bitcoin mining insane I'm Doug Prisoner. That's your Bloomberg business Flush. All right, Doug. Thank you very much. I'm Jack.
Tesla's China Sales Tumble 27% in April
"We're here and today. We're talking about the potential impact of new regulatory credits. That tesla has reportedly applied for we also have tweets from elon. Musk on the status of autopilot. Self-driving an update on giga berlin news from waymo crews and toyota n will start by revisiting the china april sales numbers that we discussed yesterday rough day in the markets today. Pretty much across the board tesla finishing down four point four percent five hundred eighty nine dollars ninety nine cents that compared to the nasdaq down two point seven percent arc's innovation. Etf down three point. Seven percent so tussle faring a little bit worse but certainly not an outlier in terms of the performance. Today i want to start off by revisiting china april sales so of course we talked about this yesterday. Some of the confusion out there. I went into a lot of detail on that so that people could understand where the various different viewpoints were coming from and why there was so much confusion and uncertainty yesterday today. I think we've got much more certainty so we'll get through this quicker today. I i did want to note a correction. So the confusion was about. Whether april sales numbers included or excluded exports one of the main factors for me leaning toward a being exclusive of exports and therefore a higher total number was the export number for sack passenger vehicles being higher than the wholesale sales numbers but unfortunately comments or pointed out to me that that was based on a mistranslation so the wholesale sales figure for sack passenger vehicles was actually thirteen thousand and four rather than one thousand three hundred and four so unfortunately that didn't give us any more information about how tesla sales compared to experts so apologies for that whenever i do find errors like that. I tweet them. Out at tesla. Podcasts good reason follow on twitter. Enter notifications on there. I try to limit my tweet so that the notifications are actually useful. Not spamming you. And then i also make sure to pinna comment on that video as well as providing up next video which i'm doing now anyway as i said yesterday related to those april sales figures. We should be getting more information over the coming days. And we've now started to see from a couple of different sources insurance data on individual models. Come out for april so we can see here. It looks like about sixty four hundred for the model three fifty five hundred four. The model y in china in april around twelve thousand newly insured tesla vehicles in china in april
Fresh update on "bitcoin" discussed on Marketplace
"Sure Every class has the same opportunity going forward. Two years later, Smith now meets with his class once a month to talk about how to do that. I'm Samantha Fields for marketplace. This final note on the way out today a very brief dip into crypto currencies brief because it's more likely than not that the price will have completely changed by the time you hear this. Bitcoin traded as low as $47,000 Today. Not too long ago. Your might remember it was at $64,000. Plus, maybe it was hell on musk. Saying he wasn't gonna let people pay for Tesla's with crypto any more concerned about the environmental impact, he said. Maybe that was it. Or maybe it's just crazy, volatile and.
Bitcoin's Energy Consumption Is a Highly Charged Debate
"Lately. There's been a lot more debate about cryptocurrency and how much energy it uses to produce bitcoin in particular uses as much energy per year as all of the netherlands. It's carbon footprint is estimated to be the size of singapore and it generates as much electronic waste as the country of luxembourg all these estimates come from the bitcoin energy consumption index at digit communist dot net. Alex debris is the founder of communist. He says bitcoin mining involves running millions of computations in a kind of coin producing lottery but some cryptocurrencies like him can be created in a less energy intensive way what they'll hope to do is to take out the mining completely. They intend to make your chance of winning the lottery. Depending on your wealth rather than your computational power and if they succeed in doing that you no longer need those energy-hungry devices for being part of this network which would cancel ninety nine point nine nine percent of the energy need so it would be really great if they succeed in making that move but as it stands. They're not expecting it to finish before the end of this year or even the start of next year. So we'll have to see you wendy. I've actually succeed in that. There is a lot more attention on this. Now we've seen in fact. China try to ban cryptocurrency mining activity in parts of mongolia. Do you think we'll get to a point where there could be regulation that speeds up the process of shifting to a less energy-intensive mode of mining. I definitely think that these actions are helping the communities that are driving these changes to realize that this really important that they succeed because if they don't and the energy consumption of these network keeps on growing increasingly likely to see more government
Fresh update on "bitcoin" discussed on Sound ON
"Guys reports one about Todd, Please come this way. Bloomberg. Surveillance must listen must watch. I think they made a great decision separating us Both. We did mornings at seven Eastern on Bloomberg Radio and Bloomberg television. This is a Bloomberg money minute. We may now know the height of Disney's Magic Kingdom, a little short of 104 million subscribers to Disney. Plus, it's about seven million short of what analysts thought Disney would sign up last quarter theme parks and experiences. Sales fell by almost half compared to a year ago. So Disney is not the happiest place on Earth right now what Ilan must boost it on Wall Street. He'll on musk help Take away the Tesla CEO doubled down on his attack on the energy demands of Bitcoin posting a chart on Twitter from the University of Cambridge, showing Bitcoin mining's electricity consumption skyrocketing this year, Bitcoin itself fell 15% at one point. What rose the stock averages by almost three quarters to about one and a quarter percent because something else fell to a new pandemic. Low first time jobless claims filed last week dropped to 473,000. The Dow up 434, the NASDAQ 93, the S and P. 49 Joan Doniger Bloomberg Radio. My mother was always very active.
Crypto to Replace Dollar as Worlds Reserve Currency?
"What's going on guys. It is tuesday may eleventh. And today we are talking about some fiery comments from billionaire investor stanley druckenmiller about how the dollar will lose its reserve currency status first over. Let's talk about why we're dedicating a whole episode to one investors comments. There's a tendency. Thanks to modern media to over valorize things that rich guys say it's easy it gets clicks and views in downloads however bitcoin crypto show more than basically any other industry in history. How often it is the a nonce in the plebs who have the right of the way. The world is changing far before the beneficiaries of the old order feel the sand shifting under their feet that said even acknowledging that we still live in a world where traditional finance is dominated by trends pointed out by these seminal figures amplified through traditional outlets aka financial cable news for that reason when a storied investor makes a big proclamation in both the world's most renowned economics newspaper and on whatever you would call cnbc it suggests that the arguments contained within our more broadly resonant in the markets than we previously knew. Indeed we saw this all too well. Last year twenty twenty. It was a huge inflection. Point for many investors. We'd been living with the legacy of the great financial crisis for a decade and while many were concerned about the long term fallout of what they saw as artificially low interest rates and perhaps overly involved fed. They had to acknowledge that the consumer price inflation that they had feared had failed to materialize. There were of course. Other strange dislocations asset prices most notably but up until last year there wasn't a great fear when the entire world responded to the covid nineteen crisis with massive monetary and fiscal intervention. This started to shift and those concerns came roaring back. Here's how paul tudor jones. Put it at the beginning of his. Seminal great monetary inflation note. Last may
Square Revenue More Than Triples, Driven by Bitcoin Sales
"On the brief today's squares. Bitcoin numbers earning seasons continues. And damned square them say numbers bitcoin revenue for quarter. One was three point. Five one billion dollars. That's an eleven x increase year over year and a doubling from quarter four of last year this included seventy five million dollars of gross profit full seventy percent of squares revenue came from bitcoin. Obviously these things matter more than just two square they matter as a signal to other companies about just how much demand for bitcoin products there is and just how profitable it can be to get involved
Environmental Concerns Arise Over Energy Needed To Mine Bitcoin
"Making or mining. Bitcoin requires a lot of energy which can mean burning more fossil fuels now at the same time states are making a push for clean energy. So does something here have to give. Here's von golden from member station w. skg in new york's finger lakes about one hundred. People are walking down the shoulder of a highway overlooking seneca lake. They're heading down to the greenwich generation. Power plant the natural gas-fired facility generates some electricity. Oh what's gotten. The attention of. The activists is their generation of bitcoin. They're protesting today. Because greenwich is looking to expand. Its bitcoin mining. That would probably mean burning. More natural gas emitting more greenhouse gases. Yvonne taylor is vice. President of seneca lake guardian and is leading the opposition to greenwich. We simply cannot allow this ludicrous scheme of burning fossil fuels to make fake money in the midst of climate generating or mining. Cryptocurrency is complicated. there's no actual mining the gist. Is that a whole lot of computers. Do a whole lot of calculations to create digital currency that requires a ton of energy which can mean burning more fossil fuels. And that's the case with greenwich. The plant isn't always producing electricity for the grid so a few years ago. They figured out they could make a profit by using excess power to mind bitcoin. Dale irwin manages. The plant came up to that. It was a very good business solution for irwin. Won't say exactly how much more the plant will emit with its expansion. Only that it'll be in compliance with its
NYDIG Partners With FIS to Offer Bitcoin via Hundreds of Banks
"Bitcoin in your bank account fintech firm f. Fis is partnering with digital asset manager. Dick to bring about an industry first customers at hundreds of us banks will be able to purchase hoddle or sell bitcoin directly within their bank account without having to go through an exchange such as coin base or payment obligation like paypal ni- dig will handle custody insecurity. The program has already enrolled hundreds of smaller institutions as reported by cnbc night big is in discussions with several of the larger banks in the us. About bringing them into the program. Morgan stanley and goldman sachs have already announced that they will offer bitcoin funds to their high net worth clients with j. p. morgan repeatedly mulling a similar product. Perhaps the decision of smaller banks to train front run. Bitcoin adoption for the everyday customer will pressure the larger institutions to follow suit for their retail customers
Are Banks Getting Nervous About Competition From DeFi?
"What's going on guys. It is thursday may sixth and today we are asking whether banks are getting nervous about competition from defy first step however. Let's do the brief. I on the brief today makoto. Lebron is the latest company to add bitcoin to its balance sheet. This is a massive latin-american e commerce and fintech company. You may remember them for being one of the founding members of the libra association and then leaving that association a few months later. It's a company that is based in argentina but listed on nasdaq they announce as part of their q one reporting the they had added seven point. Eight million dollars worth of bitcoin to their balance sheet now in some ways. This isn't that surprising. Ricardo libra has a long history of interaction with bitcoin. In two thousand fifteen the integrated. Bitcoin is a payment option on their makoto. Pago platform just last week. The company announced a real estate platform exclusively for properties available for sale and bitcoin launching with seventy five initial properties. Some on twitter pointed out that a latin american company investing in bitcoin to protect itself from currency devaluation was even more poignant than some of its american counterparts given how frequently bouts of inflation have destroyed savers in places like mocatta libraries home of argentina and speaking of latin american unicorns. The mexico based crypto exchange. Bit so has just raised a new round of funding that values at two point. Two billion dollars making it. The first latin american crypto unicorn. Next up on the brief today a digital has bought bit go for one point two billion dollars one of the key things. We've been watching here at the break. Down is crypto emanate. Emanate can tell us a lot about wearing. Industry is when times are tough as a survival strategy for companies that might otherwise go under when times are good as often. Something very different. This time around. There are two broad categories. I'm seeing. I is a joining of forces not because one party is at risk of dying but because together they see more chance to win important category
How DeFi Is Disrupting the Financial Space With Julian Hosp
"Dr julian say what's up to fire nation and share something that you believe about becoming successful that most people disagree with pleasure to be on. I believe timing is everything and i think. Many people don't give proper timing enough credit. Timing is everything. Proper timing enough credit. And i can tell you a little bit on our conversation today if i had just had a little better timing when it came to bitcoin. Slash other crypto currency. My life might be looking a little different as well. So i'm all about timing. And i imagined today. Fire nation during the intro. We're talking about. How defy is disrupting the financial space. Cilicia dive right in julian. What the heck is decentralized finance. Break that down for us. It's actually something that's quite straightforward if it's expanding simply Functions or seven things that finance. Oh banks normally do which is create value transfer value exchange value. Token is value lend value identifying value predicting valued future so seven fundamental things normally banks do and decentralized ad which means there's not a central party anymore that is in charge but it's actually the entire community that's in charge of those functions. That's
In Praise of Bitcoin
"Friend of the show. Ben hunt has been on an intellectual journey with bitcoin over the last year really longer. But he's been especially forced to because we're jerks and we talked to him all the time about it on twitter and so he kind of had to be but he's written a new provocative piece called in praise of bitcoin. And rather than give it a bunch of intro. I'm just going to dive in. Thanks ben for allowing us to read this on. Today's show and i'll be back in a few minutes to discuss in praise of bitcoin. One evening a few weeks ago. I was on a zoom call with a bunch of academic think tank and fed economists for a bitcoin discussion. A lot of names. You'd know if you're familiar with those circles. The most famous one being paul krugman. Who by the way. I found to be charming genuinely open-minded and surprisingly humble about the entire enterprise of academic economics. I had been invited to be on the anti bitcoin side of the discussion but they needed have bothered. Because there was no pro- bitcoin side crumlin lead with a simple question. What's the use case for bitcoin. Not a theoretical thing. But in actual use of bitcoin to solve a problem in the real world which led to an hour. Long extremely earnest and altogether unsatisfying conversation about financial transfers out of venezuela trade settlement and securitisation. On the blockchain and taylor swift's ability to control the scalper resale market for her concert tickets. All of which are real things all of which are interesting things off at your good things but none of which are got twenty busy people on zoom call at eight pm thursday night. None of which are bitcoin now. To be fair there were no old school. Bitcoin maximal is on the call or if they were. They were too intimidated to make an austrian economics. Hard money neo go bug. Bitcoin is the inevitable. Global reserve currency argument in front of paul. Krugman lol finally couldn't take it anymore. Is this really why we got on the phone tonight to talk about a novel. Form of digital rights management talk about payment transfers out of authoritarian third world countries. Are these really are questions about bitcoin. Answer of course. Not what got these academic think tank and govern comments on the phone that night was bitcoin. Trading at fifty thousand the question that everyone truly cared about but a question that everyone danced around for the better part of an hour was this. Is there any there there. In the price of bitcoin
What an Increasingly Booming Economy Means for Bitcoin
"What's going on guys. It is thursday april twenty ninth and tenth day we are asking the question of what an increasingly booming economy means for bitcoin. So the setup for this. Is that obviously for. Bitcoin and bitcoin has always been a macro asset in the sense that it is fundamentally about reorganizing the global economy in some way when it comes to the rest of the world however it's really only been in the last year that that idea of bitcoin as a meaningful player on the macro stage has come to the fore. The connection was made first and most profoundly by. Paul tudor jones with his great monetary inflation thesis. And since then. Bitcoin has been tied up in its digital gold narrative as an inflation hedge. Right there's no way to deny looking at micro strategy getting in and michael sailor talking about the melting ice cube of cash as a treasury reserve asset and stanley druckenmiller seeing five to ten percent inflation over the next few years. There's no way to deny that bitcoins. Narrative has been tied up in the fear of looming inflation. The question then becomes. What if that starts to withdraw. What if the macro narrative shifts. Where does that leave bitcoin so today. That's what we're going explore. And i think the start. Let's start with this idea of it. Being a booming economy one of the wall street journal's lead headlines today is. Us economy appears to be lifting off. Economists are projecting a quote robust consumer led recovery. Gdp grew at six point. Four percent seasonally adjusted in q one which is almost exactly what economists had predicted. What's more consumer confidence is approaching pre pandemic levels. In fact it's the highest. It's been in fourteen months and it's done nothing but increase for months in a row in particular a low income band people and families earning between twenty five and thirty five thousand dollars. A year has increased dramatically in march. Nine hundred thousand new jobs created an unemployment went down six percent.
'Digital Gold': Visa Bets Big on Cryptocurrency
"What's going on guys. It is wednesday april twenty eight and today we're talking about recent comments from bcc. O- on crypto but first. Let's do the brief. I the brief today. Ilan pumps does again. Okay okay alone we get it you like. Does you think it would be hilarious. If does became the reserve currency of the intergalactic federation because nature loves irony. We understand but you can still choose to stop early this morning on tweeted the doj father. Snl may eighth now. You would think. At this point the ability for something like this to pump. The price of this mean coin would be nil but ono that is not the case. The thing is it doesn't matter that many other parts of the crypto industry now have prices that go up or down more or less based on things like broad trajectories macaroni arif's and market structure based reasons does is pure play on a me that means that the relevant game isn't what should happen. It's what do you expect. Other people think will happen right now. Alon tweeting about doj. Sending dodge's price up is the easiest reflexive medic bet in the market and it just keeps working does was up twenty percent over thirty one cents per coin and as an aside apparently does coin mining revenue is up like forty five hundred percent this year as well so anyways one other ilan related thing. Yesterday's episode was all about alternative takes on tesla's bitcoin selling well. I read another great one yesterday evening. From our sarah's who describes themselves as an ip slash corporate attorney who recently became a bitcoin maxi. It's a quick thread. So i'm going to just actually read right here. A short threat on tesla selling ten percent of their btc. The sale in order to demonstrate liquidity is a totally legitimate action. On their part. It looks as this move may have been premeditated by elon. Musk defanged shareholder derivative lawsuits. Master had the ability to announce their intention before buying and give their shareholders. Time to be bought out at a premium.
Tesla's Bitcoin Selling Is More Than Digital Gold
"What's going on guys. It is tuesday april twenty-seventh and today we are talking about why you shouldn't be stressed about elon. Musk selling two hundred and seventy two million dollars in bitcoin yesterday. Oh whoa of woes. We were betrayed like benedict. Arnold come back to life to give away the heart of our country like the red wedding. Game of thrones but even more violent. We were betrayed. At least that's what you would have thought looking at. Bitcoin twitter yesterday but to understand this. We need a little bit of context. This entire leg of the bitcoin bull market was sparked by tesla's february announcement of one point five billion dollars of bitcoin treasury. It also gave us one of the most iconic a bitcoin space. In retrospect it was inevitable. It put the world's richest man and the internet's most prolific memes ter- in our corner it gave other massive corporations some pause that perhaps it wasn't just a micro strategy doing this bitcoin treasury thing. Of course tesla buying bitcoin. Also flared up some additional tensions. Climate fudd has been significantly worse since the announcement instead of seeing ilan's involvement as evidence that bitcoins energy impact has been overstated and fearmongers. It instead proved to be confirmation too many that ellen has been full of crap about his commitment to the environment from the beginning you on. Musk is in spite of his great wealth. A highly controversial
Jim Cramer and Rob Maurer Discuss Tesla's Q1 Earnings
"One of the biggest earnings reports to come so far this week has been tesla came last night. Now i want to bring on his various guests raum our host daily and an investor in tesla. Now rob i want to start by discussing tesla's overall earnings which should beat wall street. Expectations and revenue was up. Seventy four percent from a year ago kentucky this momentum going. Yeah definitely think so. I think what we're seeing a little bit of a sell off. Today is probably a lot of excitement than tends to build into earnings and then when there's no massive surprise or something like that. Although tested beat they were driven by some one time items when there's no massive surprise or updated guidance or something like that investors can move onto the next thing but for investors that are willing to take a long-term view on tesla which most people should be this really you know decade-long girl stories. We've talked about. I think you know. There's a lot to be excited about from from their innings. Report yesterday rob. How much did they really make it. Back up the credits. That cup the Yeah so they reported a non gap net income of just over a billion dollars. Half of that was regulatory credits. So about half a billion there One hundred million came from the sale of bitcoin so tests on key one acquired about one and a half billion in bitcoin. They sold about ten percent of their stake. Somewhere around fifty percent profit on on that sale of about one hundred hundred billion or one hundred million there so backing out those things You know they earned about four hundred million dollars but On a non gab basis on a gap baselessly Technically back out the regulatory credits. They still have lost. But that's not a great way to look at it. Tesla has super high stock based compensation right now because of elon. Musk's co compensation plan three hundred million dollars of their stock based compensation. This quarter was because of musk's plan. That's not gonna continue. There's only about seven hundred million dollars left in total on the plan yet to be recognized. So if tesla continues the pace that they were out in key one. That's only gonna continue for a more quarters. And i think over the next few quarters. We're gonna see that decline anyway as It's just gonna take a little bit longer for the rest of that to be recognized.
JPMorgan's Bitcoin Journey
"What's going on guys. It is monday april twenty six and today we're talking about j. p. morgan's bitcoin journey from worse than tulips to not my cup of tea to a new client product first. Let's do the brief. I on the brief today. Sports in crypto are definitely coming together in this cycle a couple of years ago. Nfl offensive tackle russell. Kun made a now famous declaration. Pay me in bitcoin. He currently takes half of his thirteen million dollar salary and btc and half in fiat. Kansas city chiefs. Tight end sean. Culkin is taking it to the next level. And we'll be converting the entirety of his twenty twenty one base salary. Nine hundred and twenty thousand dollars into btc. Culkin is going to convert his fiat to bitcoin. Salary conversion service. This is the same service that russell uses and it means that the paychecks are automatically converted which detaches them from market movements and allows coke in his own words to stay focused on the game for their part. The kansas city chiefs are aware but their contract is still denominated in. Us dollars about the deal. Culkin said quote for me it makes sense to get paid in the hardest form of currency. And it's something that's resistant. Inflationary pressures that. I think is very relevant in this current economic environment. That wasn't the only. Nfl crypto news today as the presumptive number one draft pick from later this week. Trevor lawrence announced a sponsorship deal with block folio the bonus of which will be paid entirely incredible out clearly. There is a mainstreaming momentum. Going on all right next up on the brief w is going on in turkey. I've been keeping you posted on everything happening in turkey but it's just gotten crazier on april sixteenth. The central bank announced that crypto would be banned as a means of payment. Effective april thirtieth. Two days later turkish exchange codex went off line on april eighteenth. The ceo of that company has gone missing and there are claims of massive fraud. Sixty two people with ties to the platform have been detained now for people have been detained as part of an investigation into verbal coin. Which is another turkish exchange. But none of this has stopped. Turkish crypto usage. In fact it's gone up sharply.
Corey Caplan Discusses Real World Assets on the Blockchain
"Welcome back to imagine twenty twenty. I'm yonaha cows today. I'm glad you joined by corey kaplan partner of the foundation and co founder of dolemite cory. Thanks so much for joining us. Thanks. it's a pleasure to be here so for those who don't know you You want to give a little background kind of who you are. How you got into this whole block thing. Sure so been working in the industry since at twenty fifteen or so Really exciting times to be in here. I started off as more of a user of the industry and Slowly worked on working different boundaries for different organizations found myself really diving in the technology side of really trying to understand the ins and outs of smart contracts it systems actually run them the blockchain consensus all that stuff and just like everyone else that probably got involved in the industry realize how deep the rabbit hole ago and also interesting the rabbit hole could be as he dove down it so back in early twenty eighteen Might with my business partner. Then in late nineteen started to get involved in Diem or defined money market with gregg derek. Defiantly market foundation and overall goal is just to build really cool products. That help. that really does help. People defy markets really focused on bringing real world assets unchain to help diversify people's portfolios in offer broader access to a wide range of financial instruments so leveraging blockchain chain crypto and smart contracts to help the world.
Why doesn't everyone just mine bitcoin?
"So why doesn't everyone just mind. Bitcoin can jerks but it gets it gets it gets hotter as time goes by so the first few bitcoin would have been calm would have been easy but now to mine bitcoin. These guys are using several femmes in supercomputers to sever forms. What whoa we going do with. This is my quick. That sounds right species every time every time. You open mics of teams
"bitcoin" Discussed on Bitcoin Radio
"Bitcoin even got ten times where it is today. Seems really really unlikely. Bitcoin cash very realistically go a thousand times where it is today. Bitcoin is so from an investor standpoint. Bitcoin cash is much much much more attractive as well And so we're talking about price that does seem to be the way that we kinda judge. The success or failure cryptocurrencies. Because it's sort of speculative market today. When did you feel validated. No every time we mentioned how many how many times the bitcoin community split do you feel validated. Every time you check your code market cap. Whatever active and you see the h. price higher than and bitcoin. Abc because that essentially means of the market says says we think that bitcoin cash is more valuable. Une has made a crack move more. That'd be as or or or abc. I'm not really worried about any of that at all. The bitcoin market cap is much higher than bitcoin cash. But i think people are just mistaken. They're not fully understanding that. They're so i've talked to the number of people out there people that have hundreds of millions or maybe a billion dollars. More worth of crypto off there and this isn't their fault because usually people that have that much in the way of assets her a bit older generation name name spaces in the in the space. They didn't understand the difference between a wallet. In which user has their private keys themselves and their an account where somebody else's holding the private keys for them and And these are people have probably more than a billion dollars worth of crypto currency at the very least hundreds of millions of dollars and so i spoke with him and explained the difference them and then they wound up by more bitcoin cash about millions more dollars worth of bitcoin cash after i explained the difference to them And it's their story to tell but they're out there and they're starting to wake up and i think more and more people will start to figure it out. If everyone's just using a custodial account or what did we even need cryptocurrency for that point You might as well just go back to using the dollars in your bank account your pay pal account or or whatever else out there whereas You need to be able to transact on chain it to be you. Know revolutionary for the world to bring more economic freedom of the world and bring the benefits of cryptocurrencies to the world. So people are going to figure that out and at some point everyone loves to chase the rising star when people see bitcoin. Cash rising They're going to pile in and And they'll piggybacking. That'll bring more and more and more and then everybody will be a rush for the exit there. At some point once people figure out that the bitcoin emperor has no clothes. It's just a big name only Bitcoin cash money for the world has sadly decided not to be and we're talking about new monies for the world economic freedom right now a lot of even if you have cash and you're holding cash in your hand in this this financial system facial infrastructure You know if. I want to get a loan. I have to go to a bank. If i want to bart this kind of these centralized even if you're utilizing. Let's say even somehow you have a currency that isn't a controlled by the government still the system the pipeline the infrastructure that allows money to move is still centralized in recent since this past. Summer defy has really risen on using the building blocks of bitcoin. Bitcoin cash theorem and these new technologies to start offering more advanced products or financial products and tools that people could actually used.
"bitcoin" Discussed on Bitcoin Radio
"Bitcoin as v back in the day and bitcoin cash for from bitcoin core back in the day. So do you feel that all the splintering while everyone can choose their own thing but do you think this is kind of like a brain drain. Where if we keep on splintering the bitcoin whatever whatever all the different bitcoin communities into smaller and smaller communities were actually diluting the talent poop of pool that is necessary to develop network. Yeah absolutely one of the things that make money useful as the size of its network effect and so that's one of the things i think why bitcoins does the top spot. Today is the size of its network effect but the real winner. And all this i think is going to be a theory. I'm they've only had one split like that. Where theorem classics but off. It was a very small percentage there and if you go and look at the theory and ecosystem the amount of developer brainpower and talent and things going on that ecosystem are really incredible. And i'm really bush. And i said it years ago and i'll say it again now. I think theorems going to be the first one to surplant bitcoin in terms of market cap. And i think bitcoin cash will do in the future as well just because the user experiences so much better than star there's a fly buzzing but you can see it happening out there. It's really really a amazing thing. When the ecosystems are together at arc we have been growing and building bring more users and when you have infighting in fighting and splintering and and that sort of thing it it's bad and so it was a disaster for bitcoin cash when it split into and bse and even his most recent wasn't a good thing but that's part of the the thing with permission list cryptocurrencies. There is that you have to have the ability to split. You have to have the freedom to do that and when you disagree. You can forecast offender in. It's important that people be able to do that. And and people can will in the future as well and so going back to bitcoin cash. You know the the idea behind. It is electronic peer to peer cash network. A where you can actually spend. You could go to store and you could convert you could actually on the spot by you. Don't have to wait ten minutes for approval but one of the things that people look for when it comes to a currency that they could buy in one of the knocks against fiat. Currency is idea. The government control the supply they could print endlessly. Fiat currencies could could instantly devalue the currency And so you know a dollar. That one day buys you milk. The next week you need a million dollars to buy that same no but when we're talking about bitcoin cash in really. This is something that affects all cryptocurrencies. Not bitcoin only bitcoin cash but all cryptocurrencies right now. Due to the speculative nature of the market value fluctuates. Quite quite greatly. Until you think that that really affects its ability to be used as a as a means of per transaction at means of purchase. If i'm a merchant i want stability. I want to know that if i'm getting paid fifteen. Bitcoin cash today. That's still worth something or still worth relatively the same amount as it will be a week. So how big of an issue is the fact that there isn't really a cryptocurrency besides stable coins that really keeps up a relatively stable value. And what is the solution to that. Yeah i stable. Coins are part of the solution. That's why we see tether. Is the number one traded cryptocurrency in the world at this point but then there's other really cool tools to build.
"bitcoin" Discussed on Bitcoin Radio
"This doesn't work right so it sort of goes back to like the very obvious shama kind of argument by one percent you know. Put one percent of your money in this thing just in case you'll never notice if it goes to zero but you'll definitely notice if it a hundred x everything goes down on the other side you know so i. I think they're just very clear arguments for do you understand. Inflation does is deflationary. We know exactly how many there will be. We know that there is demand we know that. The supplies reducing look at these billionaires. I hate to keep looking at them because you know short banks long long. Bitcoin short the bankers and whatever but there are very smart people. Now who are exposed to this. You can talk to them about central bank digital currencies. They listen everything is going digital. You're gonna lose your privacy when that happens at least expose yourself to some bitcoin. There's a million arguments for it. But i don't think that we're going to get that like ponzi scheme. You want me to buy this for yourself. I think that people understand listen. You say nobody's going to bail you out. You need to protect.
"bitcoin" Discussed on Bitcoin Radio
"The idea of youth made a lot of sense to me. I think the execution of eve has not yet. I don't think that it is scaled. I there's a lot of criticisms. I have of like development solidity The scale ability of it. And i am like i think i may look like bitcoin maximal and i am like a huge bitcoin proponent but it is it is typically from different reasons than i think a lot of people i. I am a big believer that you know sound money is very important for the world puts pressure on governments to have better monetary policy You know i do. I believe one hundred percent in australia. Ushering economics. I like you know like i don't I think it's good for the world but probably different way than the traditional sense That that many people do Eat kind of is very very different from bitcoin and my team. We've played around with solidity we thought about offering eath Comes down to demand issue and also a a value issue When i know that that each has brought value to the world in a truly scalable way that it like fundamentally has changed the world is not going anywhere and that i don't risk the reputation of lawley and myself to offer to our users. Then i would consider it like right now. I'm just not seeing that be true yet. I think like maybe to prove that maybe a chain might prove that. But i just haven't seen that yet so south that's going on defy fascinating absolute glimpse of the future. Not there yet. That i could say with one hundred percents certainty that i would go give east or users and in five years. They wouldn't be pissed because we're only as good as the you know what we give to our users like. If bitcoin has an access problem it doesn't really have a technology problem. Bitcoin has like proven is not going anywhere. It proven that can't be hacked. It's proven like no one has been fifty one percent attack it it so many people have thought it would fail and it hasn't like eat hasn't had that really like that moment that it's proven it's to society in the same way that bitcoin has so i'm always looking. I'm always open minded. I mean a ton of friends in east bays that are constantly being like. Hey have you seen this. Hey consider this. Hey i think it's broke Like they know my thesis. I'm very open about it. I'm very open minded. And so that's that's where we're at today The the projects that. I'm most excited about in this in in the ethereal in defy space are stable coins I think going back to kind of like you know how i think about technology. In general in technology adoption. Is you have to sort of give something to somebody that they're already used to so in our cases rewards it's like cash back. They're used to it. They understand it Stable coins look very similar to your currency it's a digital dollar essentially so it's you know someone can actually. They don't have to do math in their head. They're just getting you know digital dollar. And i think in a lot of cases. A stable coin doesn't even have to be branded a staple clinic and just be a better medium exchange in the background and actually power these networks that were otherwise on fiat and they can do it more efficiently because they could move money anywhere There's risks.
"bitcoin" Discussed on Bitcoin Radio
"And you're just giving people a more efficient meet inva- change you have to you have to assume that these merchants are going to want to incentivize these individuals individuals to go pay with a better currency. It's going to save them money so they have all that you know percents to play with that we capture that value By giving the consumer part of that so pay the consumer extra one percent pay crypto. Give them the incentive to pay with a better currency so that you end up saving anywhere from one and a half to ten percent on every transaction. that's how we we go into this inevitable. Future of crypto being the the standard. Your your viewpoint on this. Is i think very different than a lot of people in his face. A lot of people focus on just the adoption. But don't really go go far. As to think that even traditionally there is a up front costs for firing consumers in any startup in different things like that. So maybe crypto. We do have to spend some of that money to incentivize people to paint group. Why do you think there hasn't been a competitor to lollies why someone made. Let's say theory offer lawyer even any one of these other tokens and also you know. We haven't talked about defy anything else like that. Have you have you seen. Let's say on crypto twitter even from your massive community. Has there been any interest in in as well like more more transparent easier ways to build on on different layers because if you have the same tag and you already have a massive community of people with wallets even me. I'm trying to think ahead of what you could possibly do with that. Because i think that getting into a lot of these different applications in crypto some of them are lehrer once on them or are there too and the deeper you go. It's just it's just too hard to we need to bring that more down to their interests like that. Or i'm sure people that may be asked you we play around with defy just on a personal side Because it's it's interesting. It's it is probably the inevitable future of a finance. I get really excited by anything. That's like democratizing Commerce democratizing access and a lot of these defy solutions all be them albeit fraud like a lot of them are very very risky. Half of them are fraudulent But there are like. I think i have a good idea. What the future looks like and i would say a lot of them. Look very close to what the future looks like. Now the thing. I always go back to where i sort of differ. I think from a lot of people is I feel like bitcoin has already proven its value to society. Bitcoin is incredible technology. Like one of the most incredible technology that i've ever see my entire life. I mean the feeling. I got when i when i learned about it was the similar to just like getting the internet for the first time. It just made total sense to me like why this is the inevitable future east..
"bitcoin" Discussed on Bitcoin Radio
"You switch. Won't from our takes a while the scene you just let down is that i go full and i am going to stop setting up accounts on these platforms. I'm going to try my best to get engagement out. But just from. What i've seen right now is going to take a while to adopt them and by ankle for them absolutely. Yeah i yeah. Many many of them have sort of been in the work than i think even read it a couple days ago. Not so that yeah. He saw that right. That's that's pretty interesting. Love it so so. I'm sure while you're producing all this content and engaging with interesting people so how do you how do you exactly get new ideas for inspiration and like what do you think is you know. Maybe half the name with via's in different things in the world right now. With in retrospect to You know some of the other events that have taken place like for example. Yeah we just had the bitcoin having and you know the government is printing different money like do seek do you up specifically kind of see those changes in like sentiment or or perception me. I can say like. I've had more friends. Of course you know messaging me again wanting to learn more about bitcoin somewhat most of it is still like investment. But i would say like slowly. They are warning. They're wanting to know more about the technology before they invest like this time around like kind of face to is what i like to call it. I guess we had our phase one for sure. Now i agree. I mean and this is why i go back to important for people to understand. Bitcoin exist needs to stand the financial system and the economy at the fastest guards things and now more than ever. I think fundamentally. Bitcoin is stronger than ever before now. We saw bitcoin emerge out of the fallout lost recession. In two thousand night. Two thousand nine and He's kind of why Whoever he she all created this system now ten eleven years later. We're in we're in a in a similar situation again. While even worse. I think when now the government printing unlimited amounts of money and again send some of these changing because of with the economy. People like okay now. Leaving people like a pool to john's a traditional hedge fund manager being effort philanthropists. Someone that you would never expect to be talking about. Bitcoin is citing. You know. I've just one hundred million dollars bitcoin to hedge against inflation so fundamentally more than ever bitcoin. Strong sentiment is definitely changing for a few years. Now of people got scared. Away from crips are because of the the bam we just went through and you saw the whole he just for the send some change completely from two thousand and seventeen when everyone in the mumbles. Buy bitcoin to now loss of years where everyone's a bit like. I'm not too sure. The dot com bubble thing to now lead traditionally been amounts of money..
"bitcoin" Discussed on The Bitcoin Podcast
"I don't fear gravity. So it would make sense. Oh, I got. I got one for you. Did you ever do you ever get worried when you cupping bitcoin address the accident, we hit a key? And you don't realize you send it to the wrong address. I have news for you. Because bitcoin addresses checks. Yeah. So if you get one character wrong, it won't be a successful transaction ever. It won't go to address the bitcoin nodes. We'll check like the last. I think I don't know does as of four three three or four bites of the code is actually the check some of the public. And so it takes that off checks to make sure that the key is correct. Based on the previous part of the thing. And if it's not it'll project the transaction. So it'll just sit in the pool for a while. And then get rejected at some point different. Now, if you not do that. Why don't theory of address do that check? They there's a check some associated with the capitalization of the letters. So there is a form of check summing. But it doesn't do it the same way if not as robust why they did it. I'm not sure I want to interview who's lost so much theory because they got one character wrong. You'll never get them because they dove off. Didn't nose dive off of them bridge. Somebody stupid ways to lose money in the space. Crazy. Yeah. Yeah. It's parts of the darker. That I have is is in my my antivirus. So what a computer doesn't update in this accident copied the wrong address? Well, I haven't couple the wrong address, my computer's been compromised, and I pay in address in and it's wrong. I think that's international because I'm relatively in a safe when it comes to antivirus and checking bits and pieces, but I'm always worried that some fucking thing is going to steal my bitcoin. How many times you check back and forth, and you're like sending a transaction one that you actually put into action the window dot copied. I'll yeah, I'll I'll often I'll copy I'll copy it into text copied into what I'll copy it onto a page. And then usually I'll be like, yeah. Okay. I haven't fucked it up. I do the same thing. I still like I still have kinda worried that I've I've somehow stood up the copy and paste method, and that's so much to lose the money. But more like I'm not going to get done when I was trying to get done and have to spend the rest of their life. An inconvenience more money using using crypto the the more time slows down when you're sending over here. Yeah. It's so fast. Once you actually get the transaction done. But it takes a while to get that transaction. Correct. The one point when I when I used to trade, many moons ago and some of those transactions were little bit larger than like, you know, you're sending back and forth. Playstation four's. Right. It's not they're not tiny transactions. But every time you do it is just like an and people talk to you doing it mobile phone because you know, of these extreme and people are trying to talk to you. And you just like what would you like d-? What are you even listening to us? And I'm like, dude, I am in my own book and world right now just need to make sure I didn't send three PlayStation four somewhere and not back. All right. So. I guess some news for you d the sixty million light coin has just been mind, and we contributed to that..
"bitcoin" Discussed on Let's Talk Bitcoin!
"That you weren't able to before you'll be able to trade your other fork bitcoin east i your bitcoin west bitcoin north versus your bitcoin south whatever so it's again it's very similar to what we've seen with bitcoin cash for the other airdrops if when cast was isolated from bitcoin for while and you couldn't have any kind of traction between the more exchange everybody would just sit on their holdings and then when when they could access the other chain again they start trading them avoiding catastrophic failure states for bitcoin emergencies are important because it's all about the ability in the here now from the event that occurred if there was a blackout if it was sort of issue hugh and i had a large amount of my all of my money with like would i then have wait several days or a couple of weeks for the you know hash rate to fix or the energy to come back online before i could even send a single transaction to get my money out like i guess is that like like you should keep money in a lightning channels so that if block times go up past you know an hour to three days you could still have quitted with your bitcoin is that like the disaster preparedness that people should have i mean i think it's a lot simpler than that you could always use physical tokens to exchange bitcoin you can for example store some of your equipment on a paypal wallet or an open time or other physical device and you can exchange that has currency so i can give you an open time that you can check the balance all for paparella you can check the balance and it has the face value of whatever's on it so that leads me kind of nicely into our next scenario jonathan the reason why we're talking primarily here about things that are sort of more extreme or kind of extreme examples of these scenarios is because i think that it's pretty clear that if there's a short term or of highly localised problem than it really doesn't change how bitcoin gets used for the vast majority of the users and even for the users who are affected really their best move is just to sit there and wait for it to be over because it's going to be over so really the the conversation that we're having today is partly about that but i think it's more about okay so let's assume that things go absolutely crazy in some factor what changes about bitcoin how does it get us differently and so without in mind let's talk about of space aliens were to invade this is sort of a type of control scenario let's assume that they invade they take over they don't shut down technology they monitor all communications and they monitor everything that happens anywhere in the world so bitcoin still exists but now it's become incredibly dangerous to actually make on chain transactions in any sort of way that can be tied back to you and as you brought up the idea of sort of physical bitcoins talked about open diomede talked about paper waltz there's another one which is the old kosice coin model which was physical bitcoins using tamper evident seals that have face value so that you don't need to check on the blockchain you can't check on the blockchain but the tamper evident ness of it and assuming that there's trust in the.
"bitcoin" Discussed on Let's Talk Bitcoin!
"On their schedule c like self employment income but then for our purposes calculating capital gains and losses it says if they buy a bitcoin that day so if they got paid a bitcoin every friday then it's worth a thousand dollars they recognize that thousand dollars in income on their self employment and then they'll have expenses offset against that you know we have a reporter who has a situation like this where she's always painted in bitcoin and then but then when she eventually cells that bitcoin we use the cost basis that's determined the day she received it when she year radically bought it because she would have been paid us dollars and said she was paid bitcoin source and so our software does all of that but that's more of the more of a complicated tax situation i was glad to hear you said when transfer and his vague you guys will actually ask if it was a spend or transfer and i i guess is it the same way with money coming into a wallet if you would ask was that income or transfer yeah exactly okay well that's that sounds perfect so i've got a question that i assume anyone kind of who's been involved with the let's talk bitcoin network a question i was soon many would have i don't know if people think about taxes like i do i feel pretty unique i guess maybe i'll even ask you there's always that i don't know if it's a rumor truth at eight hundred people filed crypto taxes between twenty thirteen in two thousand fifteen are you familiar with that oh yeah do you believe that to be true i mean to be honest from talking to accountants and who have been filing users taxes since then i've heard of enough people who say oh for sure it's been much higher than that i alone did three hundred or whatever that i feel like it's very unlikely that it's true.
"bitcoin" Discussed on Let's Talk Bitcoin!
"All but most recently may was probably back in two thousand in late two thousand thirteen a body might told me about bitcoin but i did nothing about it i just i will you know he told me by it and he said he was going to start mining it he minded a little bit he's got a good or story just like a cup we will do but i stayed away from but then i got involved in a business where i would be an investor conferences and there was a guy on a panel who was a bitcoin guy and he had a bitcoin find any he said anybody who wants any bitcoin come up and see me after the panel on i'll give you five dollars in bitcoin like all right this was late two thousand fifteen i took him up on the five box and made late two thousand seventeen or something he was like two or fifty bucks five bucks to to i mean it was ridiculous you know it's crazy but back in march of two thousand sixteen i decided to take a significant plunge man i went i went really pretty significantly in the bitcoin with some money that had out of retirement owners so what's your wife think of their the time she was good until it started going up dramatically in every time i will tell it would go up i would saying the song would go who's a much just a screw whether actually got tired of that scenario venture really i did i have to get rid of solvit because there's there's too much exposure but bit i mean bitcoin's been great to me and others it is changed my life honestly so i wanted to do something to finish a story the business i was in the founder abruptly shut the business down as a whole mess so i'm out of a job in september of two thousand and seventeen now my ward i do now.
"bitcoin" Discussed on Epicenter Bitcoin
"Not valid in they just don't exist for mere standpoint so it's it's just reusing the bitcoin algorithm inside of a set of smart contracts he can he say not i don't understand how that is using bitcoin on when uh so a i made were were cut of getting it a basic black chain here uh is a a block chain is a container for a set of transactions and the transactions are shared across many nodes eventually they're collected into a block and the block is then shared across those nodes and each of the transactions and blocks are validated according to a shared set of consensus rules and if any of those transactions or blocks doled validate according to those consensus rules than uh they just don't exist this they're rejected there they're not validated that's how bitcoin prevents double spends is that uh double spends aren't validated they are valid according to the coin consensus rolls so similarly a double spend of a metronome money supply a double port uh is just rejected in the same way that a bitcoin rejects the double spend and transactions in blocks are shared similarly to uh you know between contract sets by users who want to import and export their metronome so you have a block chain inside a block chain with metronome a k says hayes may be dim way to think about is which is kind of hard to wrap beheaded around dads almost issue came bitcoin ivf tiffin knows he communique produce blocks said metronome at.
"bitcoin" Discussed on Let's Talk Bitcoin!
"A where it came from is the original source or simply an inch or meet for self who also have no idea if be is the final destination or if they have them forging channel behind them where they going to send it to c d e f g whatever you have no idea she also have no idea how long the route is because they always look as if they're twenty hops long always looks as if you are the second top you know there's one hop before you because it came from may but it looks like there's nineteen more to go even if you're the last one it looks like this nineteen more to go until you decrypted so at any point in time you have no idea if you're the first of the 19th or anywhere in between you have no idea what the length of the path is a could be just one hop it could be nineteen more and so you have no idea of where this is coming from and where this is going and none of the in points have to be end points they could simply be intermediaries that affording further now imagine this recording bases perspective they have a fully ky a eld the ver on one end of their connection but if they receive a payment that's going to that costumer over lightning at work they have no idea that customers the final destination that customer could simply be routing at somewhere else if they receive one coming in from that customer they have no idea that customers the origin that could simply be routing from somewhere else which means there k wednesday just fell apart completely fell apart if they do that they're in violation of those regulations they must know the original source and the final destination for every pame their routing which means they cannot run a lightning network i think that i have a pretty good understanding of where we are right now and where we seem to be going one question i am that's remaining is right now we're talking about this in the context of everyone running their own note right near everyone actually having a a copy of bitcoin and so you know having a demon writing in the background that's not how most users use bitcoin at this point there's a.
"bitcoin" Discussed on Let's Talk Bitcoin!
"While in i think you're right on the surface uh about the institutional capital targeting big one because it has futures it may have in etf coming up in other things but i mean those things are in a sense predicated on the usefulness of bitcoin and if the usefulness goes away those things who go way too i mean neto the capital could evaporate if bitcoin can't prove itself to be while useful in so i mean i'm just wondering kind of getting back to the gold thing you know ironically i think you could make a at least an analogy that site chains herb indicate bitcoin is gold because much as in real life gold uh you know gold was the money but you had circulating currency on top of it that substituted for that's almost sort of like side chains on a on bitcoin but layer crew abstraction that was required in order to make all all work at money and when i look at bitcoin court thursday layer to obstruction let's required in order to make bitcoin core work as money so i i think the you know if you're looking produced took gold at literally how that switching will and i agree with that to a large extent accept will horse won it has happened yet in to um you know it would make it a digital gold with that layer to abstraction but at the same time uh until again until it happens how how is bitcoin like gold i mean it it it is like it appears like gold on the surface but i think it's inverted uh in the sense of it will go goal did circulated the currency to some extent than it got these little the second layer abstraction of currency money substitutes and didn't circulate so much um and if it would just kind of sit there and occasionally move around like you said uh there can be high transaction costs for movie yet but you don't gold became what it was because it had used value whereas bitcoin declare that you.
"bitcoin" Discussed on Let's Talk Bitcoin!
"Knowing that makes a lot of sense i was reading the the notes you sent us about that in i think there is a really strong parallel between the two in in knots of thing it's b inapt analogy kind cuts both ways in the sense of there is a sort of religious fervor a the faith the people have about their position that smacks of a a little bit of a rationality is far as not being openminded to other positions but at the same time i think it's healthy just like uh in in science you you in a sense want the nominations as well i mean obviously in science up you strive towards a singular truth but you do that through an open sort of freemarket process where people have different views in test those views in so i i think that also applies with bitcoin so we'll we'll end so what do you think than like what are some of the implications than of this sort of a nomination will ism uh within bitcoin well i i i have my own i have my own sort of a belief but i i like she's lum i like to re rather than discuss my conclusion uh when there is a conversation that stalling out and i think it's a loss of he that's it's basis i like to at least provide a philosophical framework for understanding the characteristics of the argument that someone could at least more intelligently come to the conclusion uh where they think the right answer is rather than tell them my conclusion uh i i'd like to see like what's what's the a more accurate rainbow understanding something and then have you come to the conclusion that you think is correct rather than just tell you the conclusion that i come to the thing about about you know this conversation is it if there was an absolute correct answer then that we would there wouldn't be this debate about it what what makes it near philosophical it comes down to the preferences you have as it expresses salt to the project or to to to the expression of bitcoin so.
"bitcoin" Discussed on Let's Talk Bitcoin!
"Intal nieces and they evolve different adaptations right like so some birds develop along beacon some develop a smaller bodysized to get to like a flower that they can't breach or whatever so i just just like that with bitcoin we're going to see people having different reactions to uh the state of things but right now on can deny that there there is definitely a thing going on where it's hard to use bitcoin it's hard to do transactions because they're just so dang expensive while i guess a bitter question them props in the one i asked is what is bitcoin four right now like it's okay so this gets into the the topic of conversation that i think is gonna come a little later in the supper so but it seems like there is a time preference thing at work here and so for people who are looking for cheap transactions now they're looking to use the system now whereas for people who are kind of thinking about the big picture which is like the kind of change the world stuff they don't early necessarily care so much about making transactions now because it's sort of about the big picture and were not really there yet you know the takes time to get there so i mean entries on the last episode you mentioned that like a lot of times it's better for new users actually not to use bitcoin transactions because they would have kind of a negative reaction to it well it wait before you answer than entrance adam i just wanted to say something about time preference okay for people who don't know what that is it's the idea that some people prefer instant results i guess they wanna spend money when they have it it's burning home their pocket they want to spend it right now or they need to spend at right now and some people are the opposite of that were they can delay gratification either they can afford it because they've been saving and they're in a position to do so or they're just detter add thinking about the future verses media at present moment and some time that time preference idea carries some judgment within it like the by the by that i mean some.
"bitcoin" Discussed on Let's Talk Bitcoin!
"On today's episode let's start bitcoin i'm your wit stephanie murphy hello andrey's at novelist hey everyone and jonathan moyo in pa how how how happy holidays everybody well as a pretty good year so far let's see what 2018 brings and in this time of year with the price of bitcoin skyrocketing and more and more people coming in and looking at this thing the we've been interested in for bunch years now the question that's been coming up a lot is how you actually use bitcoin in this type of environment where there's so much demand for the block shane there's so much demand for making transactions and many people who are just kind of getting interested now are having their first experiences with bitcoin through centralized exchanges like coin base as a new user of bitcoin how should people be using bitcoin right now well that's an interesting question adam because why was noticing several merchants were deactivating their payment option for taking bitcoin as a payment legacy bitcoin i mean as a payment we like steam the gaming platform a couple of others and even dick pay which is the secondlargest or that one of the two largest payment processors for bitcoin announced that they were going to be listen payments and other cryptocurrencies besides legacy bitcoin like they're starting with bitcoin cash and they've already supporting it in their software copay which is a multi sick wallet so i thought that was very interesting i've seen people complaining about bitcoin fees for a very long time probably about the last year or so that was when i noticed it starting to affect me like when i was sending pickering transactions i was starting to notice the fees creeping up in it getting a little bit more obviously to be a problem but now i mean it's just getting worse and worse people are mad and they're taking that out by jumping ship to other cryptocurrencies besides legacy bitcoin some people are just saying all right well then i won't spend it all just hold it and other people are like what's going on i am so confused so i dunno i mean there's multiple strategies to exist in any kind of environment you know like we see different species evolved to take advantage of different environment.
"bitcoin" Discussed on Let's Talk Bitcoin!
"Anas acting as they can shop around they can have once they can work out they can buy gifts they have a whole array of options of awesome things to do and making spend days in portsmouth doing all kinds of local fund things tourists things with bitcoin only so that's really need and so besides brick and mortar establishments the are you also saying there are some other uh people who or as a priori is who also set bitcoin uh that don't have a shop per se or do you have any information on that while not counting any of those per se but there are a ton of people in the area who accept bitcoin used bitcoin or even have bitcoin startups or work for uh like the dash team and uh or are bitcoin engineers and there's a lot of bitcoin going on outside of just retail is he the dust he doesn't jole valenzuela live in portsmouth racine keen he lives in a in a suburb of portsmouth okay so he's nearby yeah i believe he comes down from time to time in and spends dash she likes a scalpel places the likes to spend dash yeah we interviewed him as a text bitcoin conference that he attended in extra give a talk at right i think you unfortunately i missed it but yeah he's a great guy and two credible he lives solely on dash in uh let me ask you will one i think it school that these establishments space what you're saying it's a mix is not just like all dino honors they bookstores or all up uh restaurants only that sounds like there's a mix of businesses that uh except crypto so that you could actually kind of get all your shopping done encrypt oh i think it's really neat but who got the shops we get about a little over minutes will break but who got the shops to accept grip during the first place you know.