35 Burst results for "Cryptocurrency"
Cryptocurrency and Domains: Real Estate in Cyber Space
"Was listening. Talk about domain. That how you view them as as real estate in cyberspace almost as well as a fixed asset like you find correlations. They're not to get to deviated from cutting your story but like when you look at bitcoin you see any parallels domains or about digital scarcity only one person can own the word voice on the dot com network so the dot com is like the main chain dot. Edu a secondary chain dot io or or dot org. These are all secondary change but the dot com was the primary domain chain. Only one person own voice. One person can own strategy or wisdom or mike or michael and early on. I was very obvious to me that if you owned domain that people understood that they could spell that they could type. That was a much better idea than having the company which is hard to spell and hard to type like imagine. Misspelling a word today as the name of your company it used to be marketing. Guys would say misspell the word. So it's unique but if you try to type a misspelled word into your browser. The spell checker corrects it. So you gotta like a won't correct voice won't correct mike and it won't correct strategy but it will correct strategy with two is and so you can't name. Your company's strategy with two is a why because you can't type it into the browser. It was very obvious to me back. Then that only one person could own the word wisdom on the dot com work. I and they were dirt cheap so i thought i mean not. I couldn't buy from nineteen bucks. But i could buy it for one hundred thousand dollars and if you had one hundred thousand dollars lying around you could buy the word wisdom well. How many people know demeans couple of billion how many people have been taught for eighteen years to the meaning of wisdom and how to spell with them. So you're talking about there must be two three four billion people on the planet that actually know how to find you. If you're sitting on the wisdom domain so so that was the idea behind domain scarcity relates to bitcoin because bitcoin is about digital scarcity all crypto so bitcoin is the main chain dominant chain. I mean there's a theory and then there's car donna and there's llosa and everything else that falls off it's not unlike dot com is the dot. Edu is dot io is the dot. Tv walk clearly. You want to be on the main chain if you can and you want to own scarcity and so i got excited about it back then. Here's what i thought like. If you have the word voice for the next thousand years voices going to mean voice in the english language and if there's ten billion human beings to learn how to speak english even if they spread all the way across the stars voice is going to be voice. And what's what's great about a brand well if you name your company or your product that thing and if a billion people can hear it in one second remember it spell it type it find it valuable. I mean that's worth a billion dollars to own tone a fundamental word on the main chain. So that's why. I bought them and held them. And eventually i sold voice for thirty million dollars last year. I didn't want to but it's the highest quality ears right. Yeah i did. It's the highest price. Anybody ever paid for naked domain. And i kind of wanted just to create a comp and the market so people would realize these things are valuable so the next one goes for one hundred million and the next one goes for five hundred million and the next goes for a billion. But you're talking about owning the english language. What's that worth just like. Bitcoin is about owning one. Twenty one millionth of everything. There's ever going to be like what's that worth right. If more than twenty one million millionaires. Everyone can own a bitcoin right. The only issue is is is dot com the main chain and is bitcoin. The main blockchain right. And what makes it the main one. Well at the fact that everybody uses it. What makes it the main one. And so of a billion people go there first and if they end their conditioned goes to google dot com amazon dot com apple dot com facebookcom numbers going to facebook dot tv so so once you get hundreds of billions or trillions of interactions on a main chain it becomes dominant and that becomes a dominant network. And so i got into that.
PayPal Launches New Service Enabling Users to Buy, Hold and Sell Cryptocurrency
"Has been surging lately. Papal CEO Dan Shulman telling CNN he knows his platform is being credited for the guy current rise. He Says it is inevitable that more banks will assign onto the system. Yeah, I think if you think about the digitization Of industries. As I mentioned, the same thing is happening in financial services anywhere between 40 to 70% of consumers want to use cash less, they want to move two forms of digital payment. Don't think about that. Paper money is fully but surely going away and what will replace that? Well, what will replace that are all forms of
Investing in Bitcoin
"All right we are joined today by zach. Prince and ceo of block fight zach. Thank you so much for coming on today. Guys them so pumped to be here. I listened to your show every week for the first time. I've been nervous to go on a podcast public speaking in a while. Because i'm just so happy to be herbs so excited to be the first guest talking about cryptocurrency on the animal spirits. Podcast i think is a longtime Well thank you for saying that. We are excited as well. We actually started this pocket. And i were just talking about this in november twenty seventeen so right into the teeth of bitcoin mania and we'll get into two point out. I don't think it's quite the say manic fever that we saw in december twenty seventeen. But why don't we just start off briefly for those who don't know anything about you. Give us a quick introduction. Who are you zach. The founder and ceo blocked by. I grew up in texas. I was always kind of an entrepreneurial slash math in finance minded kid. I guess i actually put myself through college as a semi professional online poker player so unlike a lot of folks are generation unfortunate to not be carrying a big amount of college debt. I always wanted to work in the financial services industry. But i finished school in may of two thousand nine so i ended up working in an advertising technology startup that was ultimately a really successful venture. We got acquired by google. I spend a little bit of time at google but learned that. I really enjoyed building things and being at smaller companies left google to start another ad tech business that got acquired and then more recently and most relevant for blocked by i was working in the fintech sector specifically the online lending side of fintech. So there was a big boom in that industry appear to peer lending online lending and alternative investing and i worked at one of the companies. That was the biggest aggregation of data provider of technology solutions to institutional investment firms that were participating in that asset class. When i was doing nat i became kind of like the fintech guy within my friend group and i started writing a blog which i don't think rather i just i didn't stay with it as well as the Clogs and built up a readership but writing. This blog is what led me to discover bitcoin for the first time back in twenty fourteen and one of the things that struck me about it initially was a lot of what happens in fintech is just a new front end on top of the traditional financial system. So you're doing something that banks already do but you're doing it with a mobile app with a much better user experience and it's faster and easier. You don't have to go onto a branch when i learned about big like. Wow this is something truly different. You've got a brand new asset built on top of payment network where i can move something around the world. Twenty four seven and it's not using any part of the traditional financial ecosystem. So i was screaming to no one on this blog and twenty fourteen. I think you should be taking a flyer on bitcoin. Maybe it goes to zero. But with a little bit of capital you should be investing in it and then from there kind of slowly and steadily went down. What people in the crypto currency industry referred to as the rabbit hole and ended up starting block five around the same time. You'll start started this podcasts. In the fall of two thousand seventeen to before we get into what blocked by does specifically. How do you explain bitcoin. Someone who thinks they know what it means or has no idea in is never really entered. This base of workers obviously digital ledger been well. I mean i think one of the actual biggest positives about bitcoin. The fact that the narrative seems to change so many times over the years. But how do you explain it to someone who doesn't really know what it is one of the things. I like to start with when i'm explaining bitcoin. People is the best analogy and kind of story. That i've ever heard demystified a little bit and the story is actually about the platypus. So back in the sixteen hundreds explorers from europe. We're going all around the world. They got australia. They found the platypus and they sent some specimens back to europe on the ship and the scientists back in europe rigidly thought. They were playing twisted joke on them. And they're like this animal can't be real. You stapled together a duck in beaver and you're telling us this thing lays eggs like there's no way this is a real animal. It took the scientific community about fifty years to actually accept. The planet was a real animal. Create a little part of the animal classification kingdom that incorporated the platypus. Another funky animals like it but the platypus was very real and the problem that bitcoin is had is kind of this platypus problem in the traditional financial services industry. Where is it. A currency is it. An asset is it. A commodity is security is at a payment network. Well it's not really any one of those things in a silo. It's a little bit of all those things and it's something completely new but it definitely exists and the reaction from votes whether it's jamie diamond or others who are now coming around to it but back in twenty seventeen. They were saying bitcoin fraud. It's a scam. It's only used by folks who are doing illegal activities. Those types of things come from a position of not actually understanding.
Chad Cascarilla on Paxos's Partnership With PayPal
"Today's guest is chad cast guerrillas ceo and co founder of paxos. Welcome chad i read to be here. Thanks for having me. Laura so today being thursday not the out a it was announced that all people users can now buy hold and sell cryptocurrencies. And your company. Paxos is partner enabling this service behind the scenes. Congratulations what exactly is doing with paypal. Yeah this is very exciting. Partnership for both ourselves i think for really the entire trip though ecosystem and so we are offering a crypto brokered service. And what this allows is any anybody really to come in and have a turnkey solution to be able to offer crypto to their customers and so very specifically in the case of a pay pal were in the background. has the custodian and liquidity provider for them to be able to offer a trip to their us customers and the crypto services. Our bitcoin theory m bitcoin cash and liking and We actually offer a very similar service for revolut others and so this is something that we're increasingly seeing. Many different firm talked to take up Which is how can we offer crypto to our customers. We do it in a trustworthy away at queen do it very quickly and then we can have a deep relationship with our customers. We can acquire new customers and really we can be part of this ecosystem which i think is very exciting and very dynamic which historically Been a kind of just an early adopter ecosystem. And i think is it's really going through a fait shift now and i think that's what we're doing with pay pal and what we're going to do more broadly for the whole ecosystem and so how does a small company like says convince a more than two hundred billion dollar company like pay pal to partner with it. Yes well that is a great question because we spent probably the last seven or eight years position ourselves exactly for this type of partnership and so we have a really positioned ourselves as financial market infrastructure. And so that means Really in more common terms a regulated platform and regulated platform is something that maybe isn't as needed in the early stages of a industries development. Because you tend to have a full stack solutions that are offered on the other hand as you become more mature as as an industry you need platforms where people don't have to build everything themselves where they can come in and they can leverage other people's know-how and technology and that's what we've done and so ultimately as a regulated platform. We've built a regulatory stack and that includes being the first company to be approved as a trust company in the state of new york to operating crypto blockchain. That was in may of two thousand fifteen cerna working on that in twenty twelve some some time ago Really very early days There wasn't even a theory at the time we started working on the trust company. And the reason we did that is because we believe that Not just crypto but crypto on blockchain would be able to transform financial services in that you would need an infrastructure layer and so he built the trust company and the first one. We predated the bit license. That's how long ago this was and then we went and got a number of other firsts. So he built. Give an example. We have access to the federal reserve national settlement system or a full member of swift. We have a no action letter from the sec. So we have all these things and we have plus more and more on first and all of these things and Doing that really set us up because we were asking for permission now for forgiveness and also because we set ourselves up as infrastructure. We're not trying to acquire twenty or thirty or fifty million retail customers. We're not even really trying to acquire an institutional customers. Our goal is to be a beauty. Your beauty to see company and so that's exactly what firms need who want to be able to come in have infrastructure provider to the relying on that they can trust but also one. That's not going to compete with them. I remember interviewing you in two thousand fifteen about that new york state trust charter and the time understanding it with significant in some respect but also not understanding why it would be useful so you briefly mention. The pax crypto brokerage. Which is that service that you charge you. Can you just describe how it works on the back end. Yeah definitely and i do remember that fifteen conversation it you know. It's it's amazing that it's already been five years. It feels like it was yesterday five and a half years in some ways. We're just ahead of our time a little bit. And but we really believes that. crypto blockchain. And we still believe are going to change the financial system that they're going to re platform the financial system. And that doesn't mean you don't need regulation and that's what that's always been these. You need to be regulated in order to be able to create a trustworthy ecosystem but at the same time. There's a moment in time when that becomes really relevant. And i think that's when there's just face shift from dr to mainstream which i think is exactly what we're undergoing right now. So it's it's just an exciting moment for us To be a part of that. Because ultimately i think that's what got us all excited about crypto and blockchain. Wow you could actually change everything and You it wasn't meant to just be a small community. Want to be some really big. And i think that's the moment we have right now. So that's something we're proud to be a part of and so for the brokerage how it works on the back end. Yes so the way. We have the triple brokerage work is. It's api based so anyone can come in. And they can plug their systems into ours. We offer custodial services we offer liquidity services. They can buy and sell their crypto on behalf of their customers our customers can directly. And you can integrate with us in actually a couple of different ways and we allow you to basically choose your own adventure with the api's and we did this deliberately. So we have some customers where they might not have licenses to be able to operate in the us they can have their customers actually be housed sit with impacts us and it'd be what we call third party integration and so we have customers they sit inside of us now the The partner their customers don't know that they're actually sitting inside paxos. Unless you read the fine print you would know if you'd looked but they're able to keep that relationship and so we're providing them with a regulatory umbrella as well as the custodial and liquidity benefits and then you have other customers where They're highly regulated example. Be paid bail but They are actually housing. There conditional bet license inside paxos and so that was part of the press release and so we're really proud. That was the first conditional bet license that was created is what you need to be able to operate in the state of new york If you're not a bank and so they Were able to a seat receive a conditional license and we provided the regulatory umbrella for that to be able to be housed and again we're providing custodial in liquidity services to them now. Of course you can have a bank. That would come in. And they wouldn't necessarily need any of our a regulatory umbrella to operate at all but they still want to regulate a custodian and they still want a safe acquitted pool. And so that's really what we're bringing here is different models for different types of firms. You could be a fantastic technology company. You could be a banked could be a broker and we have different ways of being able to allow you to integrate seamlessly turnkey way. Turn on buy sell. Hold senate receive as you would like you can kinda choose that part of the adventure to but
NaVi Joins Other Esports Organizations in Offering Cryptocurrency to Fans
"Natives 'vincere or commonly known as nabi is a major eastwards organization housed in ukraine they feel teams in doda fortnight rainbow. Six apex legends and pudgy. But they're best known for their ceus. Go team well. World rankings are a bit difficult to figure out during covid both esl and h ltv. Have knobby in the top five teams in the world today. They announced a new fan token on socio dot com. This token is designed to reward fans for interacting with the team allows them to have a minor say in how the team is being run now is praising each token of one. Us dollar and they say they will only offering. Maximum of five million tokens in total. It's similar to crowdfunding from fans of the organization but also gives an added layer of control beyond just kicking in some money for a small percentage of the org. Nabi is the third eastwards organization to join the socio platform. According to adam pitch a desert though. Happy birthday buddy. They joined spanish-based team. Hectic and not to legends g on the platform crypto can be controversial in east sports unicorn. The sports betting platform backed in part by mark. Cuban was fined a boatload of money by the government due to its crypto currency unit. Coin gold. now well. I don't claim to be a lawyer. That case determined that unicorn and used the crypto way to raise money but they didn't go through the proper steps that the us government if they wanted to do so now unicorn is a us based company so they're beholden to different laws. The knobby who were based in ukraine. Still we've seen how crypto currency can potentially cause problems in eastwards. It isn't handled properly by the organization offering both other organizations already on the socio platform. They're clearly backing it up with a legitimate partner. At least you'd hope so
Whoop, maker of the fitness tracker that pro athletes love, is now valued at $1.2 billion
"Whoop makes fitness trackers and provides performance metrics for athletes and whoop just raised one hundred, million dollars at a one point two, billion dollar valuation from I've VP Softbank Vision Fund and athletes. Including Eli Manning and Patrick Mahomes quoting Bloomberg. The wearable technology up charges a monthly subscription fee in exchange for providing data to users collected from the whoop strap it supplies at no additional cost that can influence how they work out, recover and sleep. After four months of use members dedicated an additional forty one minutes to sleep each night and reduced their resting heart rates by about four point four beats per minute. The company doubts on its website quote whoop data shows users are making different lifestyle decisions such as consuming less alcohol. In order to improve quality of sleep? Said I'VE EP general, Partner Eric Lee who has joined whoops board both he and referred to the company's hyper growth. But declined to provide specific information on whoops subscription base or other metrics. The company's data may help indicate if a user has contracted covid nineteen in June despite not experiencing other symptoms professional Golfer Nick Watney sought a test after whoop data showed his breast permanent were elevated. He tested positive for the virus and ultimately withdrew from the. Heritage existing investors such as basketball star, Kevin Durant thirty-five Ventures Golfer Rory mcilroy and Justin Thomas and billionaire cryptocurrency bull Mike `grats also participated in the funding round as did firms including two sigma ventures, accomplice collaborative, fund, Thursday ventures next few ventures, promos, ventures, Cavu ventures, and d twenty capital earlier investors who didn't join this round include. Jack Dorsey and Moose partners which manages the wealth of the brothers who owned the luxury Chanel Empire Emad said and quote.
Sam Bankman-Fried: What Sets FTX Cryptocurrency Derivatives Exchange Apart
"We'd like to thank Allah grant for their support of the PODCAST. And one of. The things I've heard about. That you know it's it's a platform that very well designed for traders and you know your product designed comes lock from your experiences running in active trading firm. What does that mean tangibly got? What are the sort of things that make FBI six different than other exchanges? Of things there and I'll just give a few examples although a lot of this is in the details your lot if they like a lot of just small tweaks in decisions that we made. What are some of the bigger things so? One thing is and maybe one of the bigger inserts like Moose you know sort of most visible things is how margin is handled. I don't know if you've like amateur of used. DRIFTS, exchanges before but I certainly the like the norm. Is. That every single merchant account is separate and what I mean by that is like you know. All right. So you WANNA trade. You know you WANNA trade bitcoin derivatives shot pope acquaintan- in marching your trade. US. Derivatives are put us in another merchant account. You WanNA trade you put Ethan. Third YOU WANNA. Trade spot put that Nina a fourth account yawn treat spot margin while there's a fifth account. And many of these places have like a hundred accounts or or something have way more than that, and it just quickly becomes like you know if you if you haven't spent like five hundred hours. Building out like a dedicated automated system to march to. A managing this it's like really hard to handle. You know like you know there's just sort of like Oh. God like I really. WanNa trade you know pch futures right now what do I need to do? Okay. Well, first of all, I need to remove some funds from whatever account there and now after us by spot pch for so why what the fuck like you're you're the whole point shrink futures not have you know they don't have to have h but now the first step of trading features buying. Tokens, and then you move them into account and then you can start trading and he each scalp position you have to reach everything's, and then you start thinking about your risk profile whereas a rick why go after by H in order to buy. Yeah. It's a really good question because a lot of these venues the margin for H. futures is H. The only thing you're allowed to post collateral is spot bitcoin cash and so I want. Bitcoin cash you need fiscal bitcoin cash. As you watch right US futures, you need fiscal us, and so you end up having to manage a spot book and all of these transfers all within the same exchange just to be able to trade the futures within it, which which served really shouldn't be necessary on and then it gets worse when you start thinking about your risk profile, do you think about liquidations and these are all independent margin accounts even though they're within the same exchange and they're all within your account? And it's what that means that they're separate liquidations. For, every single one and so you have to like manage like make sure that none of these fifty accounts you have with them. This one exchange are closed getting liquidated if they are you have to go in and like move funds around. and. So this is sort of like the extreme version of isolated margin as opposed to cross margining, and it's just like a huge pain to to manage and you know I mean it's a huge pain for a sophisticated trading firm with thoughts that move capital around automatically like you know it's so much bigger of a pain for I like manual traitor, you know who like What keep constantly checking all these things like logging onto you move around their capital do some trades so on f There's one account you can put anything in it Y- you dollars in other. Bitcoin cash east, whatever you want it all starts. And it all powers, all of the futures on it. and. You never need to reshuffle things, and so it's sort of like gets rid of that whole problem. Unless you want to and if you want to if you want to isolate margin so that you have like clean train records split up or so that you have margin on winced protected from a liquidation on the other than you can open up a different sub account and do that. So you can customize how you want like by default you don't have to. So. Serve like one example for thing where it's just a pain to use a lot of these platforms and tried to make it. As flexible as possible and and you another piece of that, which is different is that you know if tex will take a lot of different things quadral and so it's not like you have to store your clutter role in in. In in Bitcoin, you can do either and they'll they'll both payroll the future. So that's like one example for
Willy Woo on Why It's 'an Extremely Great Time to Buy Bitcoin'
"This was quite weak for Bitcoin and crypto in general with pave announcing that it will allow it's three hundred and forty-six million customers to hold bitcoin ether and other cryptocurrencies as well as use them to pay pay. Pals Twenty six million merchants. Avenues the price of Bitcoin shot up briefly flirting with thirteen thousand dollars. What do you make of PAYPAL's news? yeah. Well. It's very much significant if you were to look it on chain, exactly how many people actually holding the coins in the Wallet? Well it currently is only twenty three point four million holds on shade and if you count the exchanges, these one, hundred and one million. Active unique accounts so if you look at cal, it's all mice five times it's four, hundred, eighty million. So you know this the absolute unlock to the mainstream Mac here to excess bitcoin. Way In excess of what we currently have in numbers. Before that news broke, you had been tweeting a bit about how bitcoins price behaviors have been changing. One of your tweets showed a chart of coin dormancy against the bitcoin price and you tweeted dormancy is a measure of old hands selling out as interesting to see old hands reliably sold tops. Until this present cycle, they sold the bitcoin bottom at three, three, thousand, four, thousand dollars they are selling right now. So when you say this this present cycle, what time period are you talking about and why do you think the Behavioral Behavior Fall Chances. Changing. This this is the current cycle of the coin cycles. Every four years because the happening that's kind of impulse of. Of supply reduction, and so we get into these four year macro cycles in this particular cycle is interesting in the we had the fist. Through of exchanges with the lights, of bit mix. Introduced in the telling twenty seventeen and with the crazy leverage is these guys can do on these exchanges they. They have dominated the volume on. Against you know the the organic sputnik people would normally come in and by the coins move muffins the wallets. So when you've got this out live, Oh, you on derivative markets where traders cabin and trade against each other. They play a whole lot of strategic games. You Know Defensive Lines I. It to playing a game of gridiron where you going yards and you're trying to push the other side over the they back trace in. So we're in this era of derivative dominance where it's trade a game. So you see if you look at the chat of Bitcoin, we had this very nice organic. Movements and price. It was very effective fundamentals of visas coming in, and since twenty seventeen, the telling twenty seen really coming into twenty eighteen and into now we've had a crazy whip sore in the price action. It's like you can see the six thousand sort of band that we head and twenty. Eighteen in it plummeted down to three thousand. That was all trade against. On. Exchanges and so what I think's happening is that the old hand Wales, the Oggi's that voted to Bitcoin, wipe win, and the obviously highly capitalize in the boys being out of cell tops the not currently equipped to play the very sophisticated trade games that helped him unto exchanges. So that not selling the top selling the bottoms right now. and. So I don't fully understand. You know when you talk about this kind of game. What is it? You know just from? hodler perspective, it should be. You know something straightforward. You buy low you sell when it's high. So what is going on? Exactly that's keeping them from being able to do that. You know this obviously is a hotly you'll going to organically by and hold for long term sort of held that if you these terrific of exchanges. All you're doing is making bids long shore the prices, go one way or the other, and if I'm correct I make a lot of money in. So what actually happens is there if you see, for example, the gene rural market, the general traders which of unsophisticated traders they may be going long. So if your though the winner. you'll the whale onto exchanges and the winners team to be one to the Mac out according to picnics ninety nine seat lose. you're the guy with. Tens of millions of dollars of what we call Ammo. To bad to push the MAC at one way. So for example, if you've one's going long. And I'm the one percent. Well, I'm going to choice it and I'm going to sell and I'm going to sell in the NFL I may even sell on spot exchanges to to push the price down and I'm trying to push the price down below the defensive line of people going long because if you going long you bidding on a going out, but you do have this. Line in the sand where if you're wrong, you're either liquidated will you have a stop loss where you can a sell out both both cases you're going to sell out? So what the whales do is they they counted trade you they pushed the price below your offensive line, and at that point you have to sell in and then suddenly the price plummets and then thou- group at the bottom and they win and so you know that happens with your long assured the the ninety nine percent lose, and this is a derivative. Casino game. With with they're very smart sophisticated players. That have now entered bitcoin is completely breaking headache
PayPal to allow cryptocurrency buying, selling and shopping on its network
"Selling and shopping on its network, Reuters reports Papal customers will be able to use crypto currencies to shop. Starting early next year. Bitcoin and other virtual coins will be allowed now, not just any digital currencies, the ones developed by central banks and corporations. The White House's downplaying opposition in the Senate
Should I accept Bitcoin as a payment method?
"Hey Chris this is nick from Salem I recently found your show after a friend recommended it and really enjoying all the side hustle stories I'm getting ready to launch a new APP that will be available for android devices. I'm going to apply for listing in the Google play store as well as several other online directories, but I also want to offer it for direct sale. My own website that we can sell to people who discovered there with the paying commission third party. Again, even offer a discount for direct sales. And come out still ahead by splitting the commission savings between me and my customer. But of course to sell directly I, need away to accept payment pales easy enough. But a friend suggested that I offer an option to take bitcoin as well. I'm not sure if that's a good idea or even how I would go about doing it since there's not really a Bitcoin Bank on every corner at these not right live. Also, what do you think about cryptocurrency in general thanks and I look forward to hearing your response. Thanks Nick appreciate you calling in and let us try to stay on topic here. I. Could probably talk about cryptocurrency for a long time but I don't know that I'm really an expert. So I want to focus on a question of accepting it as a payment option for your side-hustle. Oh, and by the way, I want to say that Knicks idea of selling directly on his website in general leaving aside the payment option thing that is really smart because as he said, he can even offer a discount. Encouraging people to come directly to his website and still come out ahead because Google play and the APP store or the apple APP store they take significant commission. Okay. So definitely good idea there now in terms of whether you wanNA take bitcoin or. Theory or some other crypto currency. I think you operate as an option if your customers wanted. And chances are unless you're selling something and the security your industries maybe there's some other stuff I thought about but. It was something kind of specialized there. Most of your customers won't like I don't think you're GonNa have an avalanche of customers just beating on your door saying I would love to buy from you but if only took bitcoin. Who knows but I would say if you do it and it is possible to do that look at services like coin wallet and Are Different Ways that you can essentially take this as an option in addition to pay pal. But if you do offer it, here's a tip look listings of other sites that accept bitcoin is a currency. They have some directories for people who are actually really into this and want to shop buying sell goods using crypto. If nothing else you can probably get some links from them because they're compiling directories of merchants, take it. So it might actually not be a bad SEO strategy when you're starting out to get links whether or not you get a lot of purchases from it. I would just say don't expect a lot of takers because the number of people who use Bitcoin to buy and sell common items not talking about trading talking about your savings and all that stuff. But the number of people who use Bitcoin to buy and sell common items is pretty small at least right now who knows maybe that will change. The introduction at the price of a Bitcoin is currently about twelve thousand dollars but you know you'd be listening to this. A month or two in the future even just even a short time and it could be totally different. Let alone a year from now or something. So who knows what's going to happen there but nick good luck with your side side-hustle everybody else. Thank you so much for listening.
Unraveling MiCA and the New Regulations Threatening Crypto in Europe
"That's that's enough about France. Let's because our list get bored with with all the stuff that's very specific to France. But let's broaden it a little bit and talk about Europe and where where there's a lot at stake here, and this is GonNa be the bulk of conversation. We're talking, of course, the digital finance package which was. Drafted and released in late September. So just for context, what are the high level principles of cryptocurrency regulation in Europe one of the major frameworks that cryptocurrencies and cryptocurrency actors fall under in EU? Okay. There's Hugh big ways of regulating cryptos in your roof basically we can shit. Yeah. Two a way of regulating the first one is considering the that crypto assets are a securities. All of them and make them full into the financial regulation in general. So that's the approach taken by Germany and a few other countries. So if you are operating his. Exchange in Germany than you have to be a regulated. Financial Exchange that that's a that's as simple as that. So. That's the first the first way of doing it, which is quite easy to do of course, but can lead to some inefficiencies. Patient. Because the financial regulation is is very strong and very difficult to apply for a small actors like And then you have the countries that try to create a dedicated from Fokker to us. Already mentioned France of course did this but you have. Your mountain you're. They'll have like a crypto license. where basically you you described project and you you have specific allegation. That are adapted to the crypto asset and that may mentioned for example, custody this Kanye to the DESTIG- sector. So these are bespoke regimes that are created by national governments in order to help players and startups in the crypto space get started without all the encumbrances and red tape and everything of a very. Complex Regulatory Framework as exists in the financial space. That's a the LAKME. Exactly. And then on top of this. Irrespective of the of the local regulation, there's an obligation for each member state to. Put into place regulations on Koa mill for all the all the exchanges that David with Euro and all the custodians that's from a you regulation. So needs to be apply everywhere in the. And see the animals five. Directive. CRYPTOCURRENCY startups in Europe are regulated at a level by Amil Five, which implies at every exchange or custodian conducts L. Kyc on their customers but other than. Other than this specific. know-your-customer regulation there hasn't been until now a framework at the level to regulate things like. You know specifically how tokens are listed by exchanges or Stable, coins or things like ICO's until now, these have mostly been regulated at a local level. Executive okay. So let's let's now jump into this Israel finance package. What. Is this digital finance package that was released by the Commission and? How does it change fundamentally this this situation that we're currently. Yeah. So the digital finance package, it's a big badge very, very big. Named suggests it converse everything digital and finance, and the objective of the digital finance package is basically to make the EU competitive you know Narita where the financing finance is increasingly digitize so very broad and diverse. That's a lot of different regulations that covers a lot of different areas. But of course, what interests us is, if you QBC's of this regulation that will concern specifically the crypt assets industry namely the Mecam regime, a markets data sets. And then at the pilots regime for the security tokens, those are the two components that are specifically targeted to drip to assets in rural. So basically assets registered on a blockchain and. The idea behind this dysregulation is to consider the criticism very specific new as clubs. So it's quite zooming out to the approach that was taken by friends, for example, that the really considering the group that as as a different industry as the other ones and to create a specific set of groups. An spoke regime that will apply to those actors and to the staff teaching. So that that's what will happen and that's that's what the the regime sets since motion. Every single crypto assets ACTA in euro will be regulated by camp. And everything will issue of security token gay news, the pipe between, which is very specific some kind of sandbox Okay. So, when you say every single crypto currency actor in Europe will be regulated under Meka. I think we're GONNA spend most of this time talking about Meka because the one that concerns defy more so than the the pilot regime, but we'll talk about that but. When you say every single actor who you talking about here give us some examples of like who are the people who are the companies that are getting affected and regulated by this. Broadly speaking meka is the creating a new category vectors. The Cold Crypto said service provider. So shocked providing service whispered doesn't you fall into this category and it's very inspired from The financial regulation. So basically, the crypto asset service providers, the custodians. Trading Platforms Exchange execution of older reception and transmission of all those of us. It's so if you look at the different financial services in Mifid, which is the financial regulation, the Euro. Just, a cookie based basically adapted, of course, because there's the custody, but for the finance photo crypto has had sexto. So if you are providing service got an intermediary basically exchange, you help people by yourselves to assets, you advise them on guitar sets you will be a regulated under the regulation. So you all catch. and. Then there's a regulator about of the regulation that is focused on the issuance of quotas. Any issue of will also be regulated. What is the meaning of a for issuing protested? And there's specific. Dispositions on stable coins, and this is a very, very sensitive topic with a lot of pages of regulation just to give you an idea. The whole regulation is like a hundred and seventy six pages so to just on meteorology allergy and stable going bar is like a
What You Need to Know About the DOJ's Cryptocurrency Enforcement Framework
"Last week Attorney General William Bar announced the publication by the Department of Justice of cryptocurrency enforcement framework what is in the framework and how will it be used? Does it change anything about the way law enforcement has been going after crimes involving cryptocurrency? Well I don't rule that it changes anything, but it is very significant in another away a number of ways. So first of all, the cryptocurrency enforcement framework is a seventy plus page document issued by DOJ on specifically by the Attorney General Cyber Digital Task Force a week ago today on October Eighth and it is a self described comprehensive overview of the emerging threats and enforcement challenges associated with the increasing prevalence and use of currency. To details, relationships that the Department of Justice has built with regulatory enforcement partners both within the US government and around the world and then outlines departments, response strategies and for my purposes. I personally find the last part of where the framework talks about how the department has responded to crypto currency the most interesting. And so in general, what are the main takeaways in terms of the significance of the Attorney General Publishing Document? Well I while I think just the fact that the Attorney General Department of Justice has published this document is itself significant? It shows that Crypto is something that DOJ's focusing on and also perhaps even more important that DOJ wants the world to know that Crypto is something that it's focused on. I pull a couple of about key takeaways from the framework First of all DOJ seems to be still somewhat skeptical of Crypto So in the first part of the framework there's a section on legitimate uses crypto, which runs about a few paragraphs, and then there's a section that is titled Illegitimate, uses which runs to more than eleven pages And if you look closely at the legitimate uses section. It's careful not to come out and actually say that there are any legitimate uses at all. It uses language like in here on quoting Laura a cryptocurrency advocates maintain that a decentralized distributed and secure cryptocurrency holds great promise for legitimate use proponents cryptocurrency contend that by eliminating the need for financial intermediaries to validate and facilitate transactions. CRYPTOCURRENCY has the potential to minimize transaction costs and to reduce corruption and fraud. Some advocates claim that crypto currency may in the future facilitate micro payments. Others believe that the privacy associated with crypto currency through raising significant challenges for law enforcement though raising significant challenges for law enforcement can have valid and beneficial uses of reading between the lines. I think You can detect a certain amount of skepticism about crypto even though it's not nearly as new as it was at one time. So, when it comes to the DOJ, what are the main crimes that they're looking at when it comes to cryptocurrency? Well the first part of the report or the framework actually lays out. Three categories of crime. So one is the use of Crypto as he man or to siltation for lissette activities. So for example, on taking Crypto as payment for illegal drugs over legal weapons or child pornography or using crypto to engage in terrorist financing that's category one according to the framework. The second category according to the framework is using crypto to engage in money laundering or hide assets from tax authorities in the third, it's crimes against the crypto marketplace itself like hacking exchanges. And there's a section of the framework that goes through all of the laws that DOJ can use to counter this kind of activity and they're more or less. What you would expect the fraud statutes. The Money Laundering Statutes the terrorist
The Fascinating Paradox of Cryptocurrency
"You know you mentioned your own I guess skeptical beginnings when it came to cryptocurrency as you're going through your own learning process, can you can you sort of share that story with us of you you went through that from starting out having a Of Knowledge and it sounds like some skepticism to something that you really had a deep interest in well when I first started to think about bitcoin and I'm going to write this paper it was genuinely kind of a cookie thing to talk about Miami remember my roommate and graduate school kind of rolled her eyes when I said I was going to take on this project, my professor, my graduate school professor wrote it off a little bit as just being this. I don't know exactly if we thought at that time that maybe it was just a bubble people are bored or just generally not taking it very seriously. and. That's what I went into it. With the intention of thinking about that I had read an article about how it might take over as a global currency. I wanted to see if I could apply game to definitively answer from our perspective whether or not. That's possible. And I went and started just educating myself on I. The technical side of things how does the blockchain work Howard transfers validated? And what is mining house mining work and then once I had that kind of foundation not that you need that foundation but once I had it I felt more comfortable being able to think about whether how sustainable this ecosystem is and what it would mean for actually to become a meaningful asset. Now, I didn't answer whether or not I think what it would take to become global currency reserves but I or to become kind of broadly accepted broadly utilized. Away similar to. Gold. But I did start to take it really seriously start I started to think after spending time educating myself in talking to people that there are some really legit technology behind this, and there's actually also it's paired with. A general interest by people. So I started to think that. It has potential. And whether or not is going to get to that place of everyone talks about is not something even today I have a strong answer about, but it's something that is interesting to continue to follow, and especially when you're interested in in criminal activity when you start to realize the the power that this has in following criminal activities starting to be able to think about what does money laundering look like who are the biggest money launderers this is all transparent. This is all hat registered on the blockchain. You can answer some of these big questions that have been playing financial institutions for a long time. You know I I remember that as the enthusiasm for crypto currency and the block chain really took off. You know a couple years ago that it almost suffered from being a punchline. You know like be it seemed you know there were so many organizations who are just using the words cryptocurrency and blockchain to get funding for a company or two as part of a marketing or PR kind of thing. Is is that is that still lingering? Is that a challenge for those of you who are doing serious work in the space that it kind of went through that period of overexuberance I do still struggle with being taken with people understanding industry especially with family older family and friends who who don't understand. I. Mean those Thanksgiving conversations of like what's what's the Bitcoin? Just, just there is still a lot of education that needs to be done I think of it like you don't explain what the technically is happening on the Internet every time you have to have a conversation on Internet about what the Internet is right now but you know we're kind of held to a higher burden at at the moment and I think it's because people are still proving use cases, but it is a punchline and I'm excited I'm hopeful that that one day it won't be so. The conversations won't be so much around people trying to be like, what did I don't understand what it is it. Seems like it's just a bubble and just kind of writing it off and feeling like people know that it's people people feel without much exposure to the space they know exactly what's going to happen with it and but I definitely see that with a certain type of. person who I'm talking to but also other people are more fascinated by it. I mean I don't see people at the dinner table asking about my friends working in finance as so. So many questions with such interest. It's also kind of a fascinating topic and I think that a lot of people even if they have this stigma. They still find themselves fascinated asking more questions. I mean I'm definitely the one interrogated the most of at the dinner table about what I'm doing in a way that you know my lawyer friends aren't asked about and so that interest I find to be Kinda cool. You know it seems to me like there's this this contrast in that you know as you say blockchain has You know this record, this immutable record, which is part of how it works. But at the same time you know the the criminals in the bad guys are using it because it provides a certain amount of anonymity for them. As again as you say to do the money laundering, I mean that to me that's an interesting tension between those two things in a both of which are true. Yeah. Yeah. We actually working on a presentation called the paradox of cryptocurrency that simultaneously tries to address how these. How both of these things can be true at once and I think crucial to that is just understanding technically what we're doing. And just technically what we're doing is we're not demonizing people's use of crypto currency. We use still go in download exodus wallet and it's not ever. It's not going to be associated with who you are. But what we're doing is taking advantage of this public record by associating addresses together in a way that can that can identify when one service is controlling many addresses, and then we actually can see who those services are
Attorney General Barr Announces Publication of Cryptocurrency Enforcement Framework - But Do They Have It Right?
"So today your core, you posted a link and you're like, Hey, hey, everyone apparently, the attorney general thinks that crypto users criminals. And that's not tied in stay that I to say that I was like, Hey, you said, what did I say? Let's go up to. Say. I didn't say much honest I just said I basically Gerald. William William. Bar announced his publication of cryptocurrency enforcement framework. So maybe the article that dropped this relatively important. At least I thought it was. Open it up here. How many? Pages, CAV. Suggest to. Eighty something, right. Eighty three pages of the US Department of Justice. Framework on digital currency enforcement and. Too Long didn't read from what I can tell nothing too crazy except that they don't understand any of the legitimate use cases, crypto currency, and that's about fifteen pages of illegal uses of cryptocurrencies. You can see the Linda they're coming from. So it. All boils down What you said many times in the last few months that is government is not going to be comfortable giving up control of the current the power. Right that's all it boils. That's that's the theme here. Is that hey y'all crypto usages cute. And all, but we still are more powerful than you could ever imagine. I don't see. That way that may be true but at least in the context of this particular release. it's the Department of Justice. They're going to view it through the framework of illegal use cases in the things they're trying to stop and protect people from. Or catch bad people from doing stuff at when they look at cryptocurrency through that Lens enables a lot of. People who would like to do bad stuff to do it a little easier potentially. That's only Lindsey care about let's that. They're trying to like look at it having enforcement framework for. Like how does this enable the people we're already looking at and tracking and tip to stop to do the things that they're already tried to do. Not. Like don't expect. Quality. Like. To come from this. This is only going to be like. How do we stop it or how do we watch it? How do we? How do we survey? Harry punish people for doing the things that we're trying to stop the. Do they incorporate this into the has has like people sending money overseas. Like Tie ed to. Them harboring money or like putting money off shore for tax evasion purposes things like that, right? Proof could we put towards a specific type of cryptocurrency use case in the context tax evasion? Do. You think that the US DC an like these different. What are the combs CBD central digital currencies are just like vaccines for the financial systems of the of the of yesteryear? Are they just a way for them to basically you know? Put a virus in the CRYPTO system in see all the Times that crypto touches their digital currency. Just. A portal is the gateway this. He's from my perspective. This is a hard it's. What I like. So she says. Terrible. Terrible case worst case scenario is like, Hey. We got a handle on things things that had watched stuff key people for doing things, and now have a lot of controls on. Money floor or whatever like this comes out it's so dreadfully increases the access at ease in which people can sit value. Across the Now, we've got to do our jobs again. All.
Tracking the Trends: AI, WebRTC, Crypto, and Full Stack Startups
"Today's episode is a conversation about four big trends in the tech world. Any one of these trends would be notable on its own, but we cover all four in this hallway style chat as a sixteen z general partner Chris and talks with Sept. Campfire professor of media, arts, and sciences at MIT, and now co founder of cryptocurrency platforms, Selo and Eli Gill an investor in the CO founder of Health Technology, company color genomics, and formerly at twitter and Google. This is a wide ranging survey of some of the major shifts in technology right now but it's really a Meta story of how innovation happens, which is most definitely not in a straight line. So here, the translate cover Crypto, of course, a and machine learning including GP three. You can also listen to our explainer episode on what type and what's real there on our show sixteen minutes full stack startups, which Chris I wrote about in two thousand, Fourteen and collaborative web collaborative enterprise social including RTC or real time communication within the browser, which is where the conversation begins the first voice. You'll hear his Chris followed by talking about Web RTC and then set wants the conversation turns to Crypto. So it's a lot I. You and I have been talking about this in a negative excited about it. This kind of this feeling that there's a new stack of web infrastructure things like video audio. Collaborative Video Nadia rather who's having infrastructure now that it works in a way that it hadn't in the past and that's a mocking a whole new way of interesting applications people are always looking for the next platform and what the next big platform shift is and I think I kind of May have snuck up on all of us in the form of Web RTC Web Gio and then related. API. Companies providing sound or other things that have been built on top of by. Many other companies and I think the shifted substantiate itself in two different ways and almost call it the collaborative web and then separately the collaborative enterprise and if you look back ten years, people kept talking about during the first social way everybody talking about how there's going to be a social enterprise and how every SASS product was going to be more social and collaborative in that largely failed and it feels like that shift is finally happening in part due to things like what? You see fig for example, is the first really strong example of a Web jail enabled application along you to collaborate in real time with other people. In parallel with RTC is really allowing for really interesting concurrent sessions around video and tell you starting to see that in terms of a lot of products being built around virtual office rooms, virtual conference rooms, and I really do think this is the moment where collaboration is finally being built into the enterprise world and enterprise products, and then in parallel Web Jalen. Web RTC really seem to be enabling really interesting social experiments right now in terms of new social products, you have really amazing video and audio quality. So the time lag has gone who can do things that clubhouse. There's lots of interesting video experimentation. So you can see almost like degraded forms of your other things happening in browser or so I think now is a really exciting time of innovation around this new webstock. Point sneaking up on us, we've obviously had the ability to have conference calls group audio for decades. Right. But like a club house fact that there's so low latency and you've got like the visual representation of the room means that to me it's like if you remember the old days in the conference calls, Hey, always have people talking over each other partly because of whatever thrown is remarkable how the conversation switches from person to person. The latency I mean we both houses. This was zoom right like the fact that he doesn't stutter. The fact that very rarely does. It somehow Kinda Crossover. This point of good enough where finally hitting the point our in terms of video quality and the ability to stream concurrently across multiple users in terms of audio quality were hitting that point where the web infrastructure is really supporting the ability to have extra latency. A new platform excited at the examples. But when you say platform you that means you did they'll be thousands of examples. Are you think it's GonNa? Be a whole new wave that goes? By ten years. I think like any a quote unquote platform they're going to be a handful of things that really matter. That will really be the important things on it, and then a lot of things will be experiments that fail or don't work and I don't know ten years from now, what's going to be the main setup applications? I just think it is a shift that enables a bunch of applications to be built particularly the social or collaborative enterprise. One example that I think is worth noting in terms of what's coming due to see is it's quite possible that if you. Look at virtual reality or Vr the predominant use case in the near term mackey shift to the Rouser, and so I think right now in order to experience the are you need a headset you need some cases client software etcetera in. So there's more obstacles in hurdles to be able to participate and I think one of the things I found really interesting about where to seeing what jail is the ability to suddenly create like experiences where you just drop it. Can show up and so the big question in my mind is is oculus almost like the desktop computer versus mobile devices where the desktop really helps you do powerful tests, but you can do a lot on your phone and it's sort of the mainstream use case for most of the Internet today so I think that's another thing that we'll see if it happens or doesn't happen over the next decade, but that may be one interesting long-term trend to watch relative to web RTC. In. Jail. crypto rolling all involved in this allowed, you invest in Crypto Zapped new coupons company Selo in Crypto Abbasi's been my time besting. tells. A little about why you're excited about it in the second ring on. So I'll start off with general principle that I think is true for all of the technologies that we're talking about. There are certain class of technologies that increase the expressive range of a certain medium and when you increase the expressive range of a medium. Things pop up that were not possible before because you now are playing in the new design space. The historical example that I always love to point to is in the eighteen hundreds. The invention of the metal feral in painting is the little piece between the paintbrush and the paintbrush handle and collapsible easel. Those two things together allowed people to a brave paintings outside and be start to paint with a new breastroke that them too quickly DAB, paint onto the canvas in those two. Ended up, giving rise to form of painting that we now know as impressionism, and still it's interesting to think about impressionism was a result of technological advances painting and you see that same thing with the web and the Internet in general there were technological advances in the medium of text and so all of a sudden people could send texts more quickly anybody could be a broadcaster you start putting texts together with code to create different things in that vastly increased the expressive range of texts in a way that led to all of these things that you could not predict in advance. So for example, in ninety, four, ninety, five, when the web was starting to become popular, one could not imagine that. Will one day I'll be able to press the button and order my groceries on this and have my groceries come to me. You know and so I think those are really interesting from A. Technological point of view. Why I'm excited about Crypto is that Crypto does this for money? It increases the expressive range of the technology that we know is money, and that I think we'll follow very similar to the Internet you know at the beginning of the Internet. You saw allow people to pass messages. More quickly to one another across the distance in a way that was just qualitatively different than facts, and that is the first thing that you started seeing with Crypto it has direct implications to things like remittances or making the UNE banked. But then on top of that, the second implication of the web was that anybody could become a broadcaster with youtube anybody could have their own TV station and in the context of Crypto, you have the same democratization in financial services. So you see this kind of rise in decentralized finance open finance. And third is most exciting as it allows money to become programmable in the same way that the Internet allow text to become programmable and that I think, I mean we're seeing some early things today but that's I think the aspect that we're still the earliest and it has the most legs and is the most powerful and the most difficult to predict the stage. Since we're in such an early phase
"Of selling going on out there round the board. With many projects down well, well well, and truly into the double figures Bitcoin. The mock it's held its nerve the best we are seeing alt- revolt, but I'm Ching. Indefinitely in some very hefty, very hefty falls in Dade on. So these. Markets out that up old is not lost. Because, yesterday in the try to cope community. Yes. In that community. Managed to find a little short that. Didn't scan of owning and. It held Fridays and triggered and a whole host of McLaren that which is great. It was on dragging index. So de Gen-. A pay so I pay a pay per. Dragon PUP and. Let me just tell you their award. We got here so far. Just tighten from a position here from the. A Guy So wrought now. is at just after nine ago filled. On just shy of six to one. So that means of a put a thousand bucks on not tried that is six thousand dollars I am now currently up now, of course, if I was to scale out, I want to minimize my risk that still quite thirty five hundred US dollars. Cayenne yes. There has been applies to view stop-loss. So this is the thing about tried and guys it some. Way Of. Making money. Ought to have one hundred hates of tried lightly. This one set up the rules perfectly. So I, took it. Started to did a number of other people in this small letter, the bank, this morning released hedging themselves against. So further down would have seen in the overnight session. He's thing I'm investors well so yeah, I'm. To a haircut at the minute. As Mark Foaling but it's okay because these markets move in the moving waves aren't there then they moving waves and dumb. The wives is looking glow. Short that way. Let's talk about the topic now and say, we're just we sorry say just where we ails is actually up five point eight percent. Wow big move. It was actually a more to tell you that I'm just looking at the child at the moment. What it wasn't my just happened just chewed in on my computer but. A short of a one, four, candle thirteen percent will tell you right now the from where Arpan to the high the dight. We're looking at was up nearly twenty percent. Eighteen percent. Pulled back quite a bit. It's the only one. The top tennis currently bitcoins down two percents as I said the other day and I think it was not yesterday before. So the long Bitcoin grinds. The. Milwaukee Saints Debated GonNa Full. We have a bit of the a bit of a fool over not a guy just say anything here that. Inspire is any concern. Or sought -ment of bitcoin is very much during a very civil patton to what it did from of May through to the beginning will sort of the end of July. Now, that was a very sliced sideways. Period. So bitcoin, those plenty of opportunities plenty of trying to be had on the all markets and we say that again now in good trends coming in. The BITCOIN is consolidating. It really is the market is in a consolidation. It could be very boring banging from ten to eleven for a couple of weeks possibly even a couple of months like we did say back in my and it looks very, very similar to back in for my period. Mir's right now off the white and see how we got bitcoins down two percent ten, thousand, five, hundred, seventy, four nothing really to speak of that. A theory theorem full percent today three, hundred, thirty, nine dollars and twelve cents having closing yet. So of course, we haven't got the end of the die but. There is trend the reason that we interest exile pay. This was a market always stalking yesterday thought except payloads, Mabaso Radiating Austin date. It did look really really us. It was pulling back after NAS move higher now on that four outraged say anything there. So it's going to be my list today, but it is instill. So it is still. In a daily uptrend sitting at twenty four point full sense down two point five, seven percent. Bitcoin cash confuses ever
Switching Cryptocurrency Markets On Binance
"One of the confusing things about exchanges is the the screen looks exactly the same no matter what market you're looking at. The only clue as to what you're looking at is the asset pair listed at the top. So the order in which the assets appear matters. So when it comes to reading the numbers Ath Batiste. Is Different to BTC e t h is essentially the same market is just looked at it from different points of view and we WanNa know which side where viewing from. So where reading the market correctly. So. The first thing to know is the asset this listed I last cold the base asset and one is listed. Second is called the Tim's asset. So the base and the Thames. When we look at the price, it's a ratio between those two assets. And because markets are constantly moving, we need some kind of anchor something that doesn't change so that we can understand what's happening. And this is accomplished by the based asset always being one unit. So. If we're looking at E. T. H. BTC market well, I'm looking at one. Age and its price in BTC. If I then changed the market. By clicking on the pair. Let's say I change it to exit P. BTC. One Unit X. P. and its price in BTC. So that's one ex-. Priced in Bitcoin. So to be clear. The Thames Asset. Is what the market is priced in. Now switching markets is as simple as just did is simple as clicking on the current trading pack. And then clicking on the market, you want to change it to. Add suggests that it's best to actually just type in the search box because this'll fill to the list and make it much simpler than scrolling. So whatever you type in here. It will filter down to just those assets that have the letters that you typed. This relying you knowing the ticket symbol for the YOU WANNA trade though so If, you know the name of the asset, but you don't know it's ticker symbol has a tip for you. You can go to coin market Cap Dot Com and you just set for it by name. So let me set for truthfully. So it is true flip. And when you go to the page for the asset is says the name of the project that for and there is the ticket symbol right? They're. So the ticket symbol for true it is T.. F.. L.. Now, the next thing you need to know is that assets may be priced in different assets. So let's go back to bite on CNN and when I click on the trading day, you'll know his here the top the rationally four Thames currencies or four Tam's assets to choose from. You can be in be Biden's his own coin Bitcoin Alz, and then USD. For the sake of simplicity, I would stick with Bitcoin, BTC and the US dollar coins. They're also the markets that typically have the most trading activity, which is a good thing because when you play in order to buy or sell a Crypto, you want it to be filled sooner rather than late. You don't want to sit there waiting for someone to come in in a process that order. said to be clear what is listed in this box depends on the Thames you have selected. So here like like BNB. All this stuff is only only coins at trade against being be if I'm on BTC tap, then everything appears is only the stuff that trades against bitcoin and so on. Now, this is important because the set box is also limited to whatever tab you have selected. So if I'm on the US Dullah Tab for example, and then I put in the search box. S. Well, I'm only going to see this edge results for IOS trading Pez against the US dollar coins. The. Good thing about finance and the search feature is that will I can leave the sandwich in there, and then just click across the various tabs and that stays in the second books. So I can see by doing this all the different things that IOS trades against. Now if you enter the ticket symbol in the set box and nothing appears, then that's most likely means that the asset is not even listed for trading on the exchange you're using. So let's search for true flip again. So we did T. F. L.. Was the ticker symbol we just found out about. and. Well. nope. In this case Binz doesn't list true flip anyway. This is also one of the things you can use coin market cap for when we go back to Komaki happy when you sit for an asset. And Scroll Down does these tabs down here you've got charts and then you've got markets if you click a markets. And then we scroll down even further. You can see here true flip is only listed on one exchange, which is q coin, and it trades in two markets once against Bitcoin a once against if theory. So it's a quick way finding out if the asset you actually want to trade is listed on your exchange on not. In this case if I wanted to buy or sell true flip out after go and create an account with the exchange that's my only option. Just to close off this lesson, then drive at home. Let me go back to the trading screen. Unless load OBE. yaas BTC SO CETERA Yeltsin the such books make sure on the Bitcoin Tab. Click on it. Make sure that the symbols at the top his BTC unlike I said Elliot, the whole interface remains the same in it structure but the contents of all these various elements is now filled with information about your speedy see. Now. I'm GONNA break all this down for you and explain it step by step to gauge that point of crypto exchange mastery. This lesson was just focused specifically on switching markets and showing that insight about the base and the Thames currency. That's how we determine what something is priced in.
LazyLedger: Layer One Data Availabilty and Consensus Solution
"And said a Great Intro Too Lazy Ledger. Before we go into kind of. Details, from Lazy, Ledger. Curious like. What are you guys want the impact of Lazy that you to be? As I mentioned right they leisure is basically I think Leger. As a very basic layer one. I, would call it the minimum viable Laon. So if you strip back canal one to his Co. components and may the scalable as possible using existing technology? Leases that your? So. Effectively, license in simple times is basically a blockchain where people can dump arbitrary data onto it. And that data gets ordered. And the consensus don't care or process what data is. And so you says basically a blockchain for dumping data on anew and the data gets ordered. And you can use these primitive to build an all kinds of applications and blockchain's. Now. What this is really useful for what has impact for I guess to explain the overall kind of vision. is as follows. So when Bitcoin came about. The kind of vision for Bitcoin was. August technical architecture for Bitcoin was that. It was using a blockchain. For one purpose of of what application and the application is cryptocurrency payments will store value depending on who you talk to you. So it's basically a single packers blockchain. Then Came about. The idea of was Let's actually create General Pecos blockchain. where he can for every application. That kind of general purpose virtual machine where people can upset spot contracts. So those architectural visions various talk. To each other. The same time there was tenement antenna tenement was more similar to bitcoin vision. When I get tenement is that allows you to create your blockchain for your application. So until the moment, basically he wanted to a application on blockchain. This early really to waste that. The best way to do that is use a shed, his execution environment or shed computer like cerium. You code up your spot contract applets Small contracts runs on this team. guess machine the same chain as everyone else to spot contract. And thus basically the willed compute model and I, see him kind of create. The the problem with that is that. The city of Belgium sheet is very limited. In. Terms of what you can deploy on. and has very high gusts Bills Applications that the the investment machine does not native these sports success, for example, complicated catastrophe or. Perfect proofs that have native guilty and functional team, Edm. So if you WANNA, do that for the build more complicated applications. that. Support you have to basically build your own blockchain using something like tenement. But the problem with Tenement is the problem. GUESS THE DRAWBACK OF TEN DEMANDS, east? that. or any kind of he's in order to create your own blockchain does a huge overhead for creating your book convoked increasing bushing. Because you also wouldn't you create your book chain. You also have to create your own they for that book share, you have to quit your consensus later. And that consensus layer nowadays yeezy based on of stake, which is what tended provides for you. And to do takes a lot of work. You have to, for example, credit to. Make distributed decentralized may have to make sure there's evaluators until unsafe oils. So what in lesion is that as your provides A modular plug -able Laya one. That does nothing. But consensus on data visibility. Layer one that least Fischler one does not do smart contracts execution. Later they want basically those core things that they went dos and nothing else. And that makes it very useful as applicable a one. For people that want to create the earn chains, but don't want to go to the overhead of having to create a consensus network. Instead they can simply plug lays ledger in.
"cryptocurrency" Discussed on Download This Show
"Our in studio with ride Johnston and taking Jones mock Fidelis my name and changing the tone in Tyler. Cryptocurrency, stay with me. It's boring. Confusing. But today, I have cryptocurrency direct from the land of ho- quotes. There is I strange new coin that is a Harry Potter themed cryptocurrency, and I couldn't talk about. Introduced me to green take the Shaw's. Unlike some other, let's say colorful, cryptocurrencies like selfie coin and pizza coin. The actually seems to be some good potentially associated with grain. Sorry. It actually comes off the back of an even more ludicrously named in code mimbo. Mimbo wimbledon. Which is actually the blockchain system that grin will live on. Sorry. It's cold mimbo b. The land of how he put that is a spell that one can use to silence people, which is good. If you won't to them from slinging spells at your now. Stay with me the connection here is privacy mock privacy, the idea of calling this mimbo is that a lot of blockchain blockchain currency such as bitcoin on actually as private as what people think they are even there. You're identifier is a string of numbers and lettuce earn as an address agencies can actually start to decrypt that fund out who you are and track all of your transactions. So the point of mimbo is to make that not happen. It's meant to be undecipherable silencing the blockchain. So this means you can't tell if I'm a dementia or a muggle shoal show. Mock thank you going on this that. So in terms mimbo is is the environment in which green will. Anything distinguishes grin as a currency from Cy. Bitcoin or a theory or anything of that night show. Yes. Just like to explain it. As though I am you'll grandparent because show genuinely speaking when it comes to cryptocurrency. I am confused then the main salsa difference actually is the blockchain itself, it's mimbo will than grandma one things that people a client of not happy about with potential of green is that there is no Kathleen it on like with bitcoin with as twenty five million coins actually on the blockchain, but what's interesting about it isn't so much the crypt or it's the blockchain itself. So mimbo the privacy aspect around it that it'll be untraceable allegedly. But almost more importantly is that there are already they're already cryptocurrencies do this Zad cash, for example, but they know private and then grain that's the other thing about this is that one of the biggest issues around bitcoin and a lot of blockchain. Cryptocurrency is that it uses an immense amount of Dada to verify..
"cryptocurrency" Discussed on The Cryptocurrency Podcast with The Startup Coach
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"cryptocurrency" Discussed on The Cryptocurrency Podcast with The Startup Coach
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"cryptocurrency" Discussed on CRYPTO 101
"Banking system yet? It seems like every turn there's bullshit with crypto. Well, number one, I think chase does have had, but they tend to happen where the best place to steal money from chases directly into the Bank because they're holding everyone's assets there. The corollary cricket would be like an exchange, and we do see hacks on exchanges all the time. And that's just such a great place to steal money from because there's so much money sitting there and crypto currency exchange in different than a Bank. There's ways to recall even like wire transfers and things like that. These banks are like working together in a way. And yeah, there's times where like there have been swift hacks and banks couldn't get money back. Stolen, but there's a lot more oversight and there's a lot more slowness in the transactions in a way, and that slowness gives them time to realize something's going wrong. Whereas with crypto currency, a lot of it were always talking about how fast it can transfer all that kind of stuff. And that's actually a bad thing in a lot of cases. So we have this new technology with really fast transaction power and no way to recall transactions once they're on the network, that kind of thing. And so we end up having people lose money because they're trusting the new technology. Also, there's a lot of liability that chase puts on themselves. So if there's a problem with my mobile banking app, they kind of usually have liability for that and they're gonna take care of it. Whereas if there's an issue with the crypto currency while it on my phone and someone hacks in steals my credentials through that until cryptocurrency, there's really nobody that I'm going to be able to call and talk to about that. And so basically the securities moved to the edges, your own Bank responsible for all of it to questions before we get off security. My first question is. A year later after talking after working in the space after building company after you know you built your own exchange back. I think he said two thousand fourteen two dozen thirteen. Do you still believe crypto currency as occurrences? Not as blockchain technology, but cryptocurrency is the future. Yes, I am so bullish on the technology, but I think that for the issues were describing, I think we all want it to happen really quickly. People are in the space like let's go mainstream, but I just have to check with my parents like what I become trouble giving my parents cryptocurrency counter. You know, like is it really mass adoption? Ready? And I have to be honest that it's not. There are so many things we haven't gotten worked out. So I think it's absolutely the future because there's things that are better. There's property is better about it. It's it's really self sovereign money that we've never had before those properties listened on route to, sir. Yeah. I mean, just the fact like start out with bitcoin. I was blown away the first time I got into bitcoin realized that there's only ever going to be twenty one million bitcoins. So suddenly there was something that government's always had control over, which was the money supply that suddenly with cryptocurrency they don't have control over anymore. We've taken that on ourselves. We have control over that as a people together over these networks. And so. So we also don't have any man in the middle when were doing transactions online. We lost that. When we got banks online, we had talked to our Bank want to send someone money, whereas with cash, I could always just give you cash. Now we have a way to send cash over the internet basically, and no one else has to know that we're doing it. You know, there's even shielded transaction that works like z. cash and things like that where you can do private transactions, and no one even knows what you're doing, but you're sending cash instantly over the internet. That's amazing. You know that never existed before and all the other things that we can build on top of that are going to happen. It's not just money money's just the first thing, but there's social networks. Imagine Facebook being disrupted by a company that does social networking over a blockchain system, and you can control your privacy levels yourself or things like that. There's all kinds of stuff and he chance you watch the TV show Ozark. No, I wish you did because really wanna go into this because let me just purposes a little bit is about a guy who has money and do the whole thing..
"cryptocurrency" Discussed on The Cryptocurrency Podcast with The Startup Coach
"So Iran, just announced that they're going to acknowledge that bitcoin mining is an industry. I. Think it in USD terms, bitcoin boosted in pumped to over twenty thousand dollars USD Therion was over nine hundred dollars USD this week, which is, is quite a difference. And so this is on the Fiat on and off ramps that haven't really existed in Iran. But now are being discovered and so you, you see where they're inefficiencies in the market. And where there were there is good news than, you know, it, you'll, you'll see it really kind of pump and then further. To iran. There's, there's been other news in the market, as well as light Demetre fear familiar, but some wallets that have been associated with silk road were recently seen sending some, some funds are some bitcoin, too few major exchanges and. Some people speculated that, that might be associated with the dump. But then those were just shortsighted assumptions because this is actually been going on since beginning half of August, so you don't not quite it might have been the reason for some, some. Nice activity in some of the privacy coins, that's also been speculation. So I think that. We've seen a big dump as you start to watch the market. Any start to see some of these trends where bitcoin wool will be in a small uptrend up until a certain point where it encounters resistance. And then once it gets rejected than it might fall quite quickly back down to where it's got a bit more support. We'll see if we print new localized lows on this fall down is the next localized run to resistance is going to be the next bull run. Nobody really knows. I think everybody really wanted to be, but the, the, the, the market is a different time now we've got bit max, and we've got the derivative market going crazy with plenty of trading volume. Even if we did see a huge demand would we? See the same spike that we saw at the end of dozen seventeen not likely not not that hard, but as ETF's are decided upon as more projects, meet their goals in actually release invasion. I think that we've got a lot to look forward to. I think it definitely lot look forward to with more regulation, and a lot of the stuff with the deaf set. The everyone seems to be planning a lot of stuff tied to have so interesting. I think the crypto market seems to be chasing the finance market from a when anything happens in the market place. We have to justify it. So we have to come out with the story that explains it on the market went up because of this market went down because of this. It doesn't really mad or but they need to be rationalization and make sure everything is good. I just think the crypto market isn't as good as a rash at, at the rationalization yet, I, I have to agree with you, there, I think that the markets are still quite inefficient. And so even when they're. There's a bit of good news that comes out, you might see a small pump but until that news really makes it around until an opinion can really be formed. Then you might see a delayed pump later for that given coin in relation to late news. And it's, it's, it's funny how that happens because in traditional markets when news comes out, there's so much efficiency, the, you know, within within the second news has been interpreted evaluated about whether or not, it's positive or negative sentiment. There's a default evaluation and analysis on that given asset, and it's got a new, and what's generally very close to accurate result of what that acid is now worth in. So it's amazing level of efficiency. But in my opinion, it means the traditional markets are very difficult for the layman or for the retail investor to invest effort to receive alpha. Which is a return over above the, the risk compensation that they were expecting. So a lot of people are asking me. Now looking at these markets, if it's time to buy a lot of people come to me, looking at the right moment, the right deal, and I found that really isn't a sound, crypto currency investment strategies. Now, let's put all the money in now what is your advice for, though, for people asking is now the right time? Sure it's a great question. I get asked this question quite a bit is well and. It really depends because I it all depends on what your time horizon is, are you investing for the next ten years, if so, then the now's a great time to get it was probably a great time to get in before September fifth or you know, it's before this last plummet are you heavily impacted by temporary falls in the market the answer's? Yes, then you should take a serious look at how much you're putting into the market and should not put in more than what you're comfortable for, you know, with with looking out in seeing a much lesser number at sometimes what a lot of people try to do. They ask is now the best time in what they really mean is, is now the bottom is, yeah. That's all is, is now the best time has really become is going to keep going lower in, if when I say, well, it's, it should be expected that it can go lower. And they say is gonna go lower than five percent in, I don't know does that impact. To your Bill your, your willingness to go into the market now. And they say, yes, I sat right will great. You just answered your own question. If you're not comfortable with it going a little bit lower than you shouldn't put as much as but you're thinking if you are comfortable with going a bit lower, but you'd really like to be closer to the bottom, if that actually happens, then you should probably just put in some of what you're thinking of putting into in total, and you should probably plan on over time gradually adding to, to your to your pot. Right. And so you might if, if your total budget is a thousand dollars to go towards. Putting money away for the next five years, for example, then maybe not all that belongs in cryptocurrency, maybe some of it belongs in a more conservative investment. And then the part that you're comfortable with putting into risky investment than you should put some of that in the market when you make the decision to do it, and then some of it later based on your own belief and what the market is going to do. And the reason why say all this about belief about what you think is because at the end of the day. Would you coin to sleep? Right. You have to be able to sleep while on you have to be able to hold your bags with conviction when, when the markets tanking, and I'm holding EOS or credential or anything like that, right? I'm just look. I don't have everything that I plan on having in these positions. I'm an accumulation phase in, so as we see a temporary run-up. I'm selling a little bit from my position. And as we see these temporary runs down or run at runs down than or negative runs. Excuse me. Then I am accumulating more. And so if I can get a discount on the coin. That's great. And as it goes up, then I'll sell a little bit of the time. It's just in my opinion prudent portfolio management practices. And so, so do you have any advice for those looking to get into crypto currency right now? Get in getting. Yeah, it, it, it, well it if you're comfortable with it, and you've done your due diligence, and you're an adult and you're comfortable with making your own decisions than. There's usually in amount of money that people are comfortable with losing, or paying for the education. So if that number's one hundred dollars three hundred dollars in Brinda, bitcoin, or put into tether or put it into theory, and then branch out into some of the other old coins, you you'll find that you'll start to keep up with the market more you'll find that you'll keep up with development with specific projects. You'll find that you'll start to become a bit like. The expert if you will amongst your inner circle. And so the reason why I say that is because when you have skin in the game, then you'll keep up with current events because you wonder how that's going to impact, you is your hundred dollars worth eighty five. Now, is it worth seventy super thick? Is it worth ten dollars now? And then if the answer is ten dollars than congratulations, you've probably just destroyed a bunch of value. But you've taken a lot of lessons along the way. And so if you were to now put a new hundred dollars in would you I, I would expect that your newfound lessons would help you turn that hundred dollars in two hundred ten or one hundred twenty it's been fun to watch my friends take, first of all, take three months to get into buying? Sure. One, that's a whole other discussion and to once they actually put some money in twenty hundred bucks now, you know, a few thousand couple thousand here there berry. Much interested in tracking. They know you know, Tanner twenty different coins and the really following all the stuff that's going on. That's right. Yeah. Definitely depending on your risk tolerance. Throw one hundred bucks into something, and whatever you're comfortable, using generally say twenty dollars the people who are okay, because people see the price bitcoin was at sixty two hundred US today this morning. I think anything I don't have that much money. Well, you don't have to spend that much money, you can get in at one hundred or two hundred and what have you and by fractions of the coins, if you're somebody who's involved in the crypto spirit and you talked to somebody who's not involved. Please find a way to tell them that they can buy a hundred dollars or twenty dollars or ten dollars worth of bitcoin without having to buy the whole thing, very few projects or coins out there require you to buy whole tokens. It, it really is not a it should that should not be buried. Andrea. You're absolutely right. I've spoken to plenty of people who were very surprised in all of a sudden encouraged about getting involved when they learned that they didn't have to get in with eight or nine thousand dollars Canadian 'cause it's a big leap to go from. I think I'll give this a try to I think I'll put a significant portion of money into cryptocurrencies. Yeah, I agree. And so, I think just by some get a wallet start tracking it, you know, do your due diligence. Find out what you like what you don't like and, and it quickly becomes a addictive. Are there any resources blogs books or newsletters that you had found useful? If people are trying to learn more and get involved in this community. Absolutely. Actually, there's, there's nothing that can replace the human interaction. So there's plenty of events in her on the GTA. There's plenty of events Vancouver. Montreal. Calgary. It's, it's really important that people go to meet up or go to event, bright. And in just search bitcoin cryptocurrency these couple of hot words that will will spring up these events. You've got your own event that goes on a Toronto cryptocurrency conference. That's right. That's the one. And so, I know that I've met plenty of very impactful people there that I've been able to keep in touch with the bitcoin bay, these communities are very welcoming it. That's the best part is it is a close knit community like you mentioned before, but it's a very inclusive and very welcoming one. And so everybody starts someplace and you're likely to meet others that are just getting started. You're also likely to meet a few veterans it, but you're, you're guaranteed. Learn a few lessons. And when you go to these events talk to as many people's you can, you'll be surprise, you know, a lot of people who are dressed up in the in the suits, and whatever they're just getting in and they're. And they don't know what they're doing. And you'll find that the guy in the hoodie over there. He has eleven brick and mortar bitcoin banks, and he's doing this and doing that. And like these people are doing some incredible things all over the map and I see them coming to my events into other events and their stuff going on. So we have an events page Toronto starts dot com slash events. Go, so go check out the stuff that's going on there. You can see all the stuff coming up in the next month. Absolutely. And then to that point to the online communities are rich with information as well. So you've got read it. You've got certain telegram groups that you'll eventually start to discover through these actual events and through read it. So what's up groups telegram groups as well as we chat groups, depending on what region of the world urine? So you were getting to the end. This has been pretty long. It's been great. I'm giving me last words for audience. Sure. So it it's really important. Everybody. Keep an open mind to things right. I'm this coming from somebody who had very closed mind at one point. And I realized how much I missed right? And so it's just it's really important to keep an open mind to things and be skeptical ex- explore, but be cautious. Cryptocurrency is rich with with innovation and opportunity. But it's like anything else, it's filled with plenty of Trump's to in, so it supporting to just come to navigate as best you can. Great advice. So people wanna learn more about you, and who OB. Where do they go? Sure, says easiest to follow us on in our telegram group, so who will be official Canada, three words who will be official Canada. Could search up our telegram group is usually got pretty good conversations going on. You can ask questions interact with or moderators and interact with the community there, you can also follow us on Twitter at who'll be Canada, so it's H. U O B like Bob, I like indigo Canada, as well as you could follow or keep up, with are sub Reddit, which is also who will be Canada. And I'll have links to all those in the show notes then ran for coming out to take on talk to us today. Thanks so much for having me. It's been a blast..
"cryptocurrency" Discussed on The Crypto Street Podcast
"And and then you know of course looking into other crypto currencies to make sure that the the users that you know sort of the active community of cryptocurrency enthusiast still feel like they're they have a home on purse with the currency that they they wanna use one thing i've wondered about so let's take a coin like minero for example i love minero i love the concept i think there's an addressable market that's really big for going like that but i don't really see minero ever getting listed on coin base or now circle with i mean it's already on polonia maybe that's around is but how are these like big regulated entities going to like your guys included do you ever see yourself implementing minero compatibility given that it's an honest and it's hard to trace and maybe that you know brings up tax questions and illicit activities questions or have you guys thought about that or we do have to think about what we can't like thir so we don't actually you can't buy bitcoin on purse because then we'd be regulated as an exchange right and so we have to think in terms of which other cryptocurrencies we may support we have to think about that exchange to because then if you actually can trade bitcoin for jordan coin right will then are we in exchange there and how does how does that impact the regulatory environment how does that impact our users also you can connect up shapeshifts and technically by on purse with whatever other cryptocurrency want by by making that connection but i think for the most part the company position is to try to avoid the politics as much as we can because we wanna make cryptocurrency useful we want that to be a sort of a very inclusive mission of different people in the community that are you know you mentioned roger very like he's a he's an investor of purse and he's like everyone knows he's like really into bitcoin cash.
"cryptocurrency" Discussed on 1410 WDOV
"Is is very empowering now the fact that you would have a cryptocurrency its use is only as good as the supplier being able to take it right yes so there's a couple of things about cryptocurrency that or sort of myth so one of the myth is that if i ever cryptocurrency the the only value of it is if a lot of places would accept it as for transactions so unless a lot of different people accepted as a transaction in flocking to have a value and that's not really the case that the main question is is that cryptocurrency going to have a value in the trading markets that is could i use one of these other coins like one of my favorites which is going for a buck right now is called ripple ex r p and some people see abbott ripple only works in the banking system can old transfer money between financial institutions true but you can also accumulate ripple and use it to buy bitcoin or any of the other coins so one of the uses of a digital currency is to be able to hold the value and then use it to by other digital currencies interesting that that that's a set seconds separate paypal the value outside of being able to use a transaction we like you know paying for your dinner and whatnot what's your gas and take on the stock market you know i i personally think the stock market is extremely overvalued right now uh if i were someone than had a lot of money in the stock market which i don't 'cause i'm on the direction of cryptocurrency right now i would be very cautious i mean i would add a minimum take half my money off the table there are so many things i mean not the least of which are rising interest rates but when you look at what's happening with the national debt and you look at the.
"cryptocurrency" Discussed on WVNJ 1160 AM
"Load one you guys are offering two token eyes currencies absolute there's one just to be clear thank you there is one which is you own the monetary system which is the load coin by depositing silver into the system right and on the other end it creates damani money which is the ag ex going and you if if you have silver and you deposit into this system yeah you get both both of those token knows you on the system itself so to give you an example he and i think it's going to be easy for our european poll to understand let's say that you buy a venue art together we put silver into the load coined and we all know vineyard nar give a share you have a sharebased you have a share those are those shares tradeable orna yes they would be okay coins will be obviously traded and platforms on cryptocurrency platforms and people will be able to skip speculate on it now you use the term token does that mean this is all based on a theory i'm or it is stoking base coin load the load coin is an erc twenty would i say that yeah okay here's a here's a trick we've been adopted by many a theory him alliances people dco disruptive load project can be to change the world well this could very well certainly change the silver market like this opportunity for people to use silver or even just have possessed more silver more easily things like that this could potentially drive up the price of silver certainly drive up the price you're going really well administrated well it in time it ten exposed that lie regarding the regular market the win do it has to be unblocked chain everything will be open and sent decentralised when you talk about the the manipulation you mean where companies will sell you silver i'm putting quotes around that parts per yeah and then they don't actually have it in the vault to back it up that's what's been going on with gold and silver through tmfs and all future contracts market sentiment received so you're saying the this will all be public it'll be only a theory unblock chain it'll be auditable and.
"cryptocurrency" Discussed on Programming Throwdown
"If that copy is wrong or if that cockiest forage or fraudulent than there is obviously going to be a problem uh blot chain is the technology that kind of underlies all this cryptocurrency stuff that everyone's talking about and what it really is is is meant to be a trust list system right and i i see trust less empty and it's also decentralize because it basically works like this instead of one person having one copy of a ludger instead think of it as maybe we've got this whole network of people right in every time a transaction happens stat transaction gets recorded to the ledger but it is get record to one ledger it gets recorded everyone's ledger at the same time in the legers are always sinking ray and so there's not one person with a right or wrong copy everyone has the same copy and it can't really be forged because everyone's copies the same so so that's basically the premise of law she and distributed ludger technology now cryptocurrency is one use case of blushes and and you can really have many different use cases it i can cryptocurrency is just uh you know one of the more popular ones because basically you know back in i think was at two thousand eight two thousand nine uh in anonymous person uh everyone cause them to toe she basically came out with this white paper that introduced this technology and the way the introduced it was through a cryptocurrency and that cryptocurrency as everyone knows today is bitcoin right and so this anonymous person put this thing out into the world aaron slowly slowly slowly it'd be camp began to gain adoption but then when people or reading about it they're like while i'm gonna make white own cryptocurrency and so that's why you have these things called ought coins alternative coins rights so you know um you not only have have bitcoin today you've got things like doj coin and all these other coins to there's a lot of different types of cryptocurrencies through on sandra booze out these this is one thing i've always wondered is green booklet what's his thought me and.
"cryptocurrency" Discussed on Programming Throwdown
"Episodes 74 cryptocurrency and smart contracts with a new went take away patrick everyone we're here with amy the ceo of sage wise in were clavier of what is obviously a much discussed topic of the day with the anything dealing with cryptocurrency seems to make people excited and increasingly more peers and random people we meet tend to one to perk up and involve themselves any conversation involving that mostly because i think they're going to get rich anyways so any why don't you take a second to introduce yourself in a tell us which you what you're doing sure sarah thanks so much for having me on the show guys may name is amy wanna i am founder and ceo of sage wise which is a dispute resolution infrastructure for smart contracts my background is actually i'm an attorney by trading so um you know i survey career off in the federal government during international affairs international regulatory and trades type issues when i moved from dc back to california there were obviously know free trade agreements to negotiate out here in california and so you know kind of had to start my career all over again um was basically general counsel an employee number one of an early stage you'll see crowdfunding started up and then from there i went to become partner at a boutique securities law firm and got two point in my career really where are i just couldn't imagine practising law um the same way for you know the next thirty forty years so i actually left my partnership by law firm and started this company in the original purpose of this company was really to automate my job as an attorney so that's what i did i pushed out software that would oughta the drafting of small in a real estate funds real estate private equity funds crowdfunding syndication funds but um.
"cryptocurrency" Discussed on The Complete Guide to Everything
"Your cheap eu is just the in like it is it to now is it three now is four now five and bay and finally somebody gets it right six usually it's years six but by then mercer mostly is run by the up cryptocurrencies run by the devil in the crypt you could i'm sure there are people out there think bitcoin addresses are the number of the beast mm uh oh but we know from iron maiden that six six six of the is the number of the began so we know from van halen that six six seven is next door to the devil developing advani on the dea go ahead look it up i want to listen to you tug lurd at uh that's not a thing iron maiden maybe the idea said iron maiden they know that so you're guessing at an answer neighbor but by guessing you're also vis verifying the other uh cryptocurrency exchanges and if you're right there is a new bitcoin oh i'm sorry of is trying to look up six six to have a neighbor of the beast why does that have a picture of a like a condo light bats actually were the beast lives it's eight is apparently a sitcom points i don't know down i wanna yeah probably look i on the blues here's her involved this was a yoruba dan fiction wikipedia here i am seinfeld israeli does here know this is fake tom i am i'm gonna i'm gonna i'm gonna call inaudible and go back to what you were saying so that's how it works at tel you're like germany new tweaks i'm going to get about six six seven neighbor of nod is raised you're going to get about bitcoin.
"cryptocurrency" Discussed on Bitcoin Crypto Mastermind
"Testing the mastermind so i'm just gonna let a few of you in at a low price and it's already filling up quickly so if you want to get in i'll let a few of you in so go to tie lopez dot com slash bitcoin podcast all one word by lopez dot com slash bitcoin podcast if the course is closed when you get to the page put in your name in the waiting list you missed out on the first round uh if you see it welcome to the group glad you didn't procrastinate okay back to the show proof of work meaning there are mining rigs that generate a certain amount of hashish is based upon the algorithms complexity and assuming that the algorithm has a difficulty bomb which mathematically years illustrated quite simply as a logarithmic difficulty curve it becomes increasingly more difficult to increase tokens and distribution fire hash reward hints the chart tends to operate as a lager rhythm or a log function okay so that's calculus but in terms of basic parlance for those in the cryptocurrency community we call it the difficulty bomb and this terminology is usually specified in the distribution mechanism distribution terms it's usually inside of in most white papers ice in some cases where you know it's excluded all the talk about us the technology concept but not necessarily the distribution schedule and stuff like that but this is very important to know because without it you don't know how much a dilution you might experience as a result of new token issuance is down the road whether there is a cap on the number of tokens or cryptocurrency or if the cap is going to be unlimited meaning that people could use proof of steak proof of work to keep mining for them forever you see a lot of different case scenario so again distribution and distribution terms are very important you have to look for them in these white papers that you understand what the longterm potential of these cryptocurrency projects are going to be.
"cryptocurrency" Discussed on The Nice Guys on Business Podcast
"Some reality is a lottery aladi how is this thing called cryptocurrency just go one on one with me what is cryptocurrency let's start their younger go currency from a higher level i'll i'll i'd striving his digital currency you know we have a lot of these you've seen mb three players ucf nba jazz transition to digital methods of transactions and i think that's really what cryptocurrency as it's real to put it simply joy the ability to transact money digitally without the need for a third party so you don't need to go through a bank you know go need to use a bank application and you don't actually you need to have a bank account um you actually it can have a what's called a cryptocurrency account and it's a that often times referred to as an address as well so you have what is called a public address i have a public address you would have a public address and i could simply send various cryptocurrencies between those addresses any it happens using cartography the arms make sure it's only secure ryan it happens almost instantaneous and you and i can do business together and we don't need a middleman to say take vis out of the middle or delay the process or those types of things so that's really what cryptocurrency is okay so maybe i'm just coming at this from a different perspective in i'm gonna i'm gonna ask us without any kind of i mean again the scepticism to a certain degree but i i know it's legit i mean there are companies that are out there that are that are doing this and it is legal but the question is how is illegal wise illegal and why for example can we not do this for anything but i wanna make secure like salmon or swing bicycles or iphone half i mean how is it that what is special about cryptocurrency yacht right now we're still in duberry early stages so i think that is one of the things that's ghana holding holding back some of the bigger players that the bigger merchants from being able to accept cryptocurrency the also that the technology is new and it is a challenging technology.
"cryptocurrency" Discussed on Social Media Money Makers
"All three work in trade in a similar fashion but there are some differences between them at the time i'm recording this one bitcoin is worth about eighteen thousand dollars one a theory on is worth about eight hundred dollars in one light coin is worth about three hundred fifty dollars there's tons of cryptocurrencies there's hundreds in fact one of my best friends came over the other day we're hanging out talking about cryptocurrency and he said he had recently invested in a chinese cryptocurrency called tron i said how much trauma trading for now he said well when i invested it was at three cents and now it's almost out five cents so his fifty dollars is now worth about eighty dollars so if you're not that into a theory on light coin or bitcoin you can do you research and find other cryptocurrencies online that are trading for less than a penny or you can stick with the more popular cryptocurrencies which i personally have been doing just because it's easier to track in their more established and readily available well i think i should also note that just because one bitcoin costs eighteen thousand dollars that doesn't mean that you have to pay eighteen thousand dollars to get involved you can pay twenty dollars and owned just a small fraction of a bitcoin it's just like the stock market so you can invest ten dollars five dollars you can vest a hundred thousand dollars just like you would in the stock market here's what i'm doing and not advising you to do the same i just received lots of questions asking about this that's why we're here talking about bitcoin and cryptocurrency and a lot of people have asked for what i have personally done and here is i've invested a few hundred dollars a small now not my whole savings and not anything that is going to greatly impact my life if it goes to zero is it possible that cryptocurrency and bitcoin and light coin in a theory 'em all bottom ongo two zero no it's extremely extremely unlikely is it likely that they're going to spike like they did at the end of november and go up.
"cryptocurrency" Discussed on Future Tense
"How many times have you done this today facing paying for your kofi you'll learn shield bills in fact paint that anything is likely to be a very different experience in the future one of the possibilities is that we will digitized money make the move to cryptocurrencies you've probably heard the term and seen stories about bitcoin maybe even a theory of them and bits of news round governments attempting to regulate currencies but do you know what they all how they'll work and the changes that may come with them dear with her eighth to spat cryptocurrencies and whether you know anything about cryptocurrency hood frighten not not ray who he was nothing backing cryptocurrencies by storm blac chyna this way pittsburgh currencies loan zilic select with coins so big like bitcoin uh no i'm doing a stalled this is feature tents and this week i'm hoping to make the confusing world of cryptocurrencies a little claire for you before we can even begin to get our heads around cryptocurrencies we need to take a closer look at the technology behind it most of us have heard of block chain but how many of his really understand it created by a person or group of people under the pseudonym of cibitoke she nakamoto dog chain is a digitized decentralised public ledger historic fee we've only created in introduced new ledger systems won't 70000 thousand years also and every time we have monumental changes have occurred from professors imports director of the book churn an aversion hubbard armata university here in melbourne sir as far back as as we've heard economies and we've had history move had ledger technologies using numbers to records transactions about the fourteenth century we developed doubleentry bookkeeping which.
"cryptocurrency" Discussed on Listen Money Matters
"It's hard to say it's hard to say what the regulators are going to do with with bitcoin specifically in cryptocurrency in general it's hard to say i i got into the needs just all that the yeah so at an al will abortion up the put a little bit in it just to see let me let me ask you we there is bitcoin and then cryptocurrency what is the difference okay these are also terms yeah so i guess to put the things up front what i want to explain this episode since we had such a messy opening here i want to explain what bitcoin is what a cryptocurrency is i want to give a brief explanation of the technology that enables it to work in the way that it does um it's a combination of several different technologies and then i wanna maybe give leg some options for getting your hands on some but not necessarily a recommendation to do so because i feel like if we dislike skip over that part than i don't know people my go do really dumb things to get it we'll get into our feelings later because i i ask strong feelings give strong feelings about it i i thought i was texting you were like this should is a bubble it's stupid i guess we won't talk about it up i had a so interesting uh things still i quote in whatever but so gay tell me about bitcoin and the ballot timbers or what is the release into cryptocurrency.
"cryptocurrency" Discussed on Freedom Fast Lane with Ryan Daniel Moran
"Only has to do with the fact that for you know we've just decided that it it's a store value but it's an idea like everything else but i think that cryptocurrencies take this problem to a whole other level in terms of just you're thinking that something has value i know that they try to grounded in an algorithm and it's supposed to have all these safeguards built dan to avoid know reproduction and all manner of other things but i'm still a to say something somewhat sceptical these could be you know famous last words but i remain a sceptic about cryptocurrency yeah i also feel like people are buying it retail right now and it's almost like they're hoping that fire by opec and time and capture the growth that they missed out on any i wish i had bought ten sentenced to an hour or two thousand but i didn't and need buying it now does change that fact so if you're trying to catch a trend that they have no control over that makes me i also have sort of a different fundamental problem with say you know bitcoin for instance now understands that the bitcoin program the way it works out like he's fewer and fewer bitcoin's or becoming available at some point there won't be any more at all and then supposedly are going to have the president's president's gonna skyrocket i guess what my concern is like every other commodity that there is in the world in a capitalist system when profits her you know off the charts on something that invites competition and i don't see how bitcoin can maintain essentially a monopoly position in cryptocurrency forever and it will just have to invite competing currencies and then once that happens then the value of bitcoin's is going to go down because they don't.