17 Burst results for "Matthew Aaron"

"matthew aaron" Discussed on CRYPTO 101

CRYPTO 101

04:18 min | 3 years ago

"matthew aaron" Discussed on CRYPTO 101

"But Aniston Jake in the space, there's a lot of news. There's a lot of people to follow you. This crypto, Twitter, this Facebook, there's people on, you know, CNBC people, reading, blogs on medium in all over the place. You can. Find people, but who are some of the people you follow to get the what's up in boxing and crippled currency. I mean, like you. I like to listen to a lot of podcasts. I think from the financial world, I like to follow people. You know, that are big in the financial world that have converted to crypto. Like maybe Mike, Nova 'grats in some of his team or Brian Kelly who's on CNBC is fast money. At least some of these people are from the financial world and they've they've converted into crypto. There's a lot of people from the venture community. I mean, you know, Fred Wilson from union square ventures, and you know the Andriessen Horowitz and you know, Chris Dickson I think is great to to really listen to. I like to listen and read a lot of the economists from the nineteen thirties. I think books that have held and stood the test of time can give, you know, perhaps more and better information than the latest tweet. So you know, and people are. Talking about the Austrian school of economics than I want to read about, you know, the top two or three economists of the nineteen thirties. I think there's a lot of relative value there. They were worried about a lot of the same things that we're worried about. They were worried about a thorn -tarian them and they were worried about fascism. They were worried about hyperinflation, you know, they were worried the Austrian economists. They were really worried about excess credit, and so they had a belief in repudiation of excess credit. And so they have a lot of good models that I think are applicable today. And so it could be a wide range of people, but that those are some you mentioned books you're in. I'm I love reading books. I haven't had as much time as I would like here lately. Everybody told me I wouldn't have enough time to read books after advocate. I guess they were true. You talk about reading a lot. What books or book made the biggest impact on your life? And or what book or books may be impacted you during a season in your life? As you know, we all have different seasons in our lives where each season is very impactful. That leads us to who we are today. I think in two thousand back then books like Robert kiyosaki and rich dad, poor dad, and some of his writing really helped me see the entrepreneurial side. And so I really found his books a really valuable at that time in my life. And that helped me start a company. And so I found that really great read this time around, probably the one of the biggest books was four or five years ago reading anti fragile by nNcholas celeb-. I thought that was a really great book. He's the author of heating. Okay. Yep, exactly. And any has this idea of anti fragile and it's it's things that gain from disorder. And so he has this really novel concept, and I think it really applies to investing in economic. So that one was great. The one I mentioned before by pelota Peres technological revolutions in financial capital made a very big impression for me. I really loved to labs writing. So I read all his books his latest when I was in the game skin game. Yeah. Have that in my, yeah, Nevada talks about that a lot. And would you think of that? I thought it was great. I thought it was really good. It was more readable and more relatable than some of his other books. So I thought that was great. Again, those nineteen thirty Austrian economists. I like Frederick Haya with the road to serfdom in a couple of his books on basis with theory of money and credit. And some of those those older books I think are really great. So all. All of those of made an impression enough formed by investing? Well, I out on books all day long, but I have to make one mention of an old book. It's an oldie, but a goodie thinking grow rich by Napoleon. Hill is a timeless book. I try to read it once every couple of years grey book, not really big, huge impact..

CNBC Mike Austrian school of economics Aniston Jake Twitter Hill Frederick Haya Fred Wilson pelota Peres Facebook Robert kiyosaki Andriessen Horowitz union square ventures Chris Dickson Brian Kelly nNcholas Nevada five years
"matthew aaron" Discussed on CRYPTO 101

CRYPTO 101

01:53 min | 3 years ago

"matthew aaron" Discussed on CRYPTO 101

"This is what you do. I said, I have to go fifty miles on the road. You stop twenty miles. Can't take a rest, and you could pack up and you go here, we owe kept him for fun. The second traveling, you know? So like we just have no clue of where this technology is going. So my pet peeve is you have to stop comparing it to the internet in nineteen ninety four. We have to start thinking, how is this going to shape our landscape, shape our society, shape our minds and how are we going to help get it to the places where we wanna go to benefit mankind to benefit everyone. Yeah, I hear you. I think that's the genius about Carlotta presence work is that she builds that framework. And so you know, all technological revolutions that fifty or cycle have similar structure. And so we use the internet age because some of us can relate and remember it. Most of us can't remember the industrial revolution or the steel revolution, and so we can't make any analogies that would be relatable to anybody. But I do think that there is a framework in phases to these long wave cycles. And so a lot of people in two thousand seventeen were. Relating to to us being like in nineteen ninety eight or nineteen ninety nine. But I think if you talked to any developers, they're going to say, no, we're more like in nineteen ninety three or nineteen ninety four. So I know that people used by. I do think the analogy does hold a little bit and I think were were a lot earlier than most people think. You know in one thousand nine hundred ninety four. We had the mail. We had some web pages, but we didn't have broadband. I can remember nineteen Ninety-seven going around to businesses saying, you know, hey, I can build you a, you know, a webpage the like, well, what would that do me? Well, you can advertise your business will how are they gonna find me? And I had no answer to them. We didn't really have search engines yet. So I think the analogy does hold of debt, and I think it does help a bit..

Carlotta
"matthew aaron" Discussed on CRYPTO 101

CRYPTO 101

04:03 min | 3 years ago

"matthew aaron" Discussed on CRYPTO 101

"The dynamics of bubbles and golden ages, and she really outlines that there's a long wave. Noah fifty or sixty year long wave economic cycle, and it's driven by technological revolution in an over the past two hundred years. You know, she's explained how this has happened. You know, the first one was in the eighteenth century with the industrial revolution, and then we had the age of steam and. Railways and then the age of steel electricity. And then in the early twentieth century, we had the age of oil in mass production. And our last big technological revolution was the age of information until it communications. And so we have these short wave credit cycles, but the long wave economic cycles that are really driven by technology. And ultimately we have, we've started in new technological revolution and I think it started in in two thousand nine, you know, with the invention of a blockchain. Now I don't think blockchain is the specific focus of this age, but I think it's a very important mechanism within the entire structure. And I really think we're in an age of Thomas Asian. So you see a and you see robotics, and you see the internet of things. And they're all converging into a Thomas. You're you see agents and and drones and all types of Thomas agent. And I believe that that is the fundamental driver of the next age. I think crypto, where about ten years in to the next cycle in? So these these fifty year cycles have structure to them, you know, they have phases and and we're in the beginning were in the beginning of the second phase. So the first phase is really just about understanding the technological breakthrough that's happened. And then the second phase is a gilded age, not a golden age, not where we actually create value, but a gilded age where we have, you know that tulip manner that idea of a big mania cycle. And I still think we have a much bigger mania cycle that's going to be a head of us. The ultimate end of. That second phase is going to be a crash and that's when we kind of reform and re govern, and then really start to build some of the real things they get deployed into the new space. So you know, in one thousand nine hundred nine we had the last crash from the internet age and it wasn't until the early two, thousands and and mid two thousand. When we got Google and we got some of the companies that weren't, you know, web vans and some of the the crazy dot com companies that ultimately died in nine hundred ninety nine. So I think that book is a great book, and I think it sets context for where we're at and a good investment thesis for how big crypto could be because I think it's a really big component of a ton of medication. That's amazing thought. And I'm, I just have a pet peeve that is kind of related is that everybody could pairs blockchain and cryptocurrency to the internet. They always ask the question wait year. Do you think we're an intern. Terms of the internet of blockchain. Everybody's like we're in nineteen Ninety-four in my opinion. That's like asking somebody that just driving the first automobile model t what year and horse and buggy think we're in. It's just it's, you can't compare the. There is no way for anybody with a horse and buggy to know what the car would do to the landscape. It carved, it's shaped our landscapes globally. We have parking lots and garages and driveways up two houses. Transportation has changed idea of taking a trip has changed. You know, in you have a horse and buggy back in the day you'd camp..

Thomas Asian intern blockchain Noah Thomas Google two hundred years fifty year sixty year ten years
"matthew aaron" Discussed on CRYPTO 101

CRYPTO 101

04:18 min | 3 years ago

"matthew aaron" Discussed on CRYPTO 101

"We need to have a an in with the average consumer or the mass market, or the moms and the pops to have them understand how we want this to go because I think it's still them that can make this movement progress. I, I think it was one of my gripes is that I just mentioned Laura, shin, and Laura is one of the only people in Aaron, Paul and Matthew area, and actually are one of the only people that use our real names in the crypto. He's you have people that are really vocal, great followers great ideas thought leaders, and they go by bit demi-god or crypto frog or bitcoin, Batman, and you're like, yeah, these are representatives to the masses. So when is bitcoin Batman going to start saying, hey, I'm Bruce Wayne. Take off the column, the Cape and start. Talking to the average consumer because, hey, you know what we need your help in is fun as an as entertaining as bitcoin Batman might be. He is not going to be taken serious by the media, the people, the mom and pop investors, or the conservative investor that says, hey, you know what I work hard for my money. I've been doing this for thirty years at my company to set up by to pay off my house to set a little bit of pension my 401K and now I have bitcoin Batman saying that this is the next big thing. Yeah, that's painful. I mean, it was a documentary on CNBC and it was it was like a crypto documentary, and I, I was really excited and then half the the documentary is really good. It's like follows a lot of the players in crypto, but but half the documentary was about some guy named crypto kid, you know, who lives in a tree house and as you know, very eccentric. Like none of that is bringing credibility in. It seems like those are the stories. Is that the media seems to Guam onto in. We're just not going to be able to get real credibility with that, so that's got to be addressed. So with that being said, I feel like we've circled back around to how do we get the average person in to the space is one we talked about, we gotta get them access to it. They have to be able to use it and we have to have professional representatives. Average professional representatives representing them and talking to them in encouraging them and getting them into the space and letting them have a real look and went. We're talking about gripes because seems to be the subject matter. Man, I hate the modern media. I cannot stand the modern media and you had Ray redacted on awesome on crypto, wanna one. Awesome. Because Ray said, look, love the space. I'm paraphrasing love the space, do your own research, but he, I think math. You. He might have been one of the first people I've listened to so many episodes, but one of the first people that I can remember clearly who said, but you really need to look at the other side. You need to read that book by that guy was like, it's never gonna work in come to your own conclusion, but there's so much of the institutional. There's no question that there's manipulation in this market. No question. So if there's no question that there's manipulation in this market, if some people, if there's some subset of people who are so wealthy, who can control that market from Wall Street that Saint money's controlling the media. So if you hate, if you don't want those guys there, why are you listening to the to the buddies their financing? I wanted to stop there. Real quick is an answer that one. Why are we? This is the buddies as finding financing, why we listen to the buddies that are in the media because that is what we just said. A Representative is crippled kid living in a frigging tree house, but you know, it's really hard to get. The average person to not look at, you know, CNN or CNBC or Forbes, or what have you and CNN just the other day, I think it was just yesterday put out a headline that says, guys bitcoin went to half million dollars, then lost it all and you off at all. I saw that it's it's fricking impossible that he lost it all. If he was invested in the bitcoin, if he bought a month before it's all time high, he bought a seven thousand nine hundred..

Ray CNBC Representative Laura CNN Bruce Wayne Guam Aaron Paul Forbes million dollars thirty years 401K
"matthew aaron" Discussed on CRYPTO 101

CRYPTO 101

03:22 min | 3 years ago

"matthew aaron" Discussed on CRYPTO 101

"I walked into the store, grabbed a coffee and left. I thought it was a fucking thief. Is this for real. Starbucks because Starbucks and Microsoft have gotten together with forming backed, and they're looking to create a solution that's exactly what you're talking about. It would be able to use crypto currency and bitcoin, and it would be a clearinghouse, and it would be a custody solution, you know, it was a major announcement and so I think companies are looking to have and consumers use digital currents is to be able to to buy. But ultimately, I think the first people that can benefit in the developed nations are businesses. I mean, the worst is, you know, running a business, you send out an invoice if they're even using digital veneer that you're getting a. You don't even get a wire, you know, for the most part, we're using the ACH appel. Yes, yes. The biggest issue is you, you know, you sent out an invoice, you wanna get paid not by check or through the mail, and the best option in the US is to get an ACH payment. Well, how long does that take to settle that takes like three to five days the subtle. I mean, people could literally FedEx cash and. A settlement of an invoice them, you know, our current quote, unquote electronic version with an h payment. So there's just tons of value creation and benefit for businesses to be able to be paid with digital currency. I think I a backpedal a little bit here before I get a totally destroyed by the listeners. But when I said that, I think it's gonna be the US dollar. And I think you're, you're one hundred. It's going to be people like WalMart, WalMart, or he has WalMart cast of WalMart app. You can have it on your I watch and you know, pay pay with your. I watch in Apple Pay and stuff like that. Then when I say that that's going to be blockchain and that's gonna be the currency. That's just the way I feel. However, with bitcoin in general, it is the most amazing social experiment ever. It has given a power to the people if we decide to use it to escape all of the currencies, all the banks, all of the systems, all of the government's the governance in any. Other thing we want because of the way it set up the inherent value of blockchain. So yes, I, I think that it's going to go one way, but it doesn't mean that it couldn't go other ways in we have the tools now to initiate that movement. Yeah, very much. I mean, I think you know bitcoin and especially the layer too. I think people who are investing in some of the crypto currencies that that they see is faster than bitcoin are going to be surprised when you know when layer to solutions and the lightning network comes in? No, I agree. I think that in my opinion, we have to figure out a way to attract people as well. I one of the things that I fear and even though I like I just said that, I think is gonna be the US dollar on the blockchain in the WalMart coin on the blockchain. This is only because of our passive nature as consumers. We wait to see what comes out. Then we start using the best one. You know, there's a little competition between the companies and then you know, hey, we're gonna use. WalMart cash or or Starbucks coin or whatever. But I think we need to have a segue..

WalMart Starbucks US FedEx Apple Microsoft five days
"matthew aaron" Discussed on CRYPTO 101

CRYPTO 101

02:27 min | 3 years ago

"matthew aaron" Discussed on CRYPTO 101

"So you have all these do's even though they'd have agrees great back. Rounds. They're probably not in the positions that these should be in. There's no competition for their position because they're the founders of the companies. And what I think that we have to do is look at the lower tier. The second tier of people when it comes to run these companies. Because usually sometimes I must say usually it's that one person that they hire to get their shit together that operation do that comes from an obscure part or skewer business, and they're putting their expertise in streamlining operations, or you know. Manufacturing or or hospital hospital streamline operations into their business that actually get the shin done. So I, in my personal opinion, it's kind of like cutting straight through the CEO CFO CEO's and all the CTO 's. And going to the next guy's who's your operation director in where they come from. So Matthew, you said you said something pretty cool, and that got me to thinking about bringing average dudes in to run a company, you know, hospital service, whatever, right? And it got me to thinking about how do you get them attracted to crypto currency. Right. And it's kind of like this chicken and egg thing. Once I learned about the industry, I wanted to go all in, but I don't have my tack background. And what else can I do in this industry? Well, I don't know, but I can research and I can invest in now I, I love it. Like, what's the on ramp to get the average consumer? Is it mass adoption? Is that the. Is that the user interface is like, what's the chicken and egg? Does that make sense? Well, I mean, I think that's a good question, but I think that the it isn't about the tech. It isn't about the protocols is about getting people to understand that this is an emerging market. The average consumer to understand that this is a merging emerging field and they can use their expertise and they can put it anywhere in this field right now and people are hungry for it. People are hungry for the guy that can run twenty McDonald's in northeast Ohio because running twenty McDonald's in northeast Ohio, and being a district manager operator is a hard job no matter what company you're working for and they have a skill set. Now, does this guy really like working for McDonalds? Maybe he does. Maybe he doesn't. But if you ever wanted a career change now is the time to use his skills in put those in practice in one of these emerging companies and make their operations run smoothly, making the designer, the x. designer, the whoever, put them into this.

CEO CFO CEO Matthew Ohio McDonald McDonalds CTO director district manager
"matthew aaron" Discussed on CRYPTO 101

CRYPTO 101

03:35 min | 3 years ago

"matthew aaron" Discussed on CRYPTO 101

"And I really like how you actually made a good segue into who's in charge because one of the things that we were talking about the other day, and I really like your idea of this is that a lot of ICO's and I don't. I want to paraphrase, but you can correct me. And actually I want a Jake's opinion on this is that there's nobody running the business who's running the business, who's they're doing operations, streamlining operations, making sure that their costing is or even have a costing structure, you know, managing their PNL who is doing this in these ICO's in, are they capable of actually running businesses? We see. A lot of people private jets. First class conferences, speaking, Lambeau z-. He hearts, dinner, steak dinners or whatever they're doing on cripple, Twitter, and if that's the CEO and that's what they're doing, who's who's back running the business. So Jake business one are these ICO's? Are these companies running a proper business? Do they have the proper people in place to achieve these goals? I think that's one of the most fundamentally important factors when evaluating ICO's or any of these crypto projects. I mean, a lot of these people just they may not be malicious, but they just might not have the competence to be able to run an organization and build and develop a successful project. So I think for the most part, yeah, there's probably some bad actors, but I think there's there's probably just some incompetence out there. I think business wanna one. If we could really get back to some of the basics poll from best practices that we know in the industry, both technical and financial. Title the whole entire crypto space is going to benefit in. So I think just getting back to basics using standard business practices, you know, bringing those in and for us as investors. It's important for us to look at the team and evaluate the team to make sure they have the people that have experienced in place the technical know-how, but also the operational experience. Now, I wanna look into the team and see that they really know how to execute the not a plan execute. And so just like in the venture or angel world, most of it comes down to the team in the venture world. We, you know, looking at the product, the market team and the deal, and the most important thing we're looking at his team, and I think that's saying here in the crypto space. So I guess that's where I was going to get into because we're gonna talk about gripes. When I look at ICO's and you look at the founders and you look at the chief. Operating officer, the CEO and the CFO. I think they probably did amazing things. They're brilliant people, but where did the culture come from in this business? Because they're coming from the same industry. They're coming from Silicon Valley. They're coming from the most brilliant tech places across the world, but I don't remember seeing Silicon Valley people who are up and coming flying around and just spending so much money on marketing and fundraising in to raise more fun rather than put their head down to work hard. Well, Aaron, you know where where do, where do you think that came from? Well, where do you think that game for? What do you think about this in here? Real quick man because his his, how I think these companies start, you get your boys in dude. I've heard all your interviews in ICO your boys starting ICO. You raise some funds and then you sit around drinking beers one day and you say, I'm the CFO, you're the CTO, you're the CEO and they're like, I want to be the CEO..

ICO CEO CFO Jake Silicon Valley Twitter CTO Aaron officer one day
"matthew aaron" Discussed on CRYPTO 101

CRYPTO 101

03:55 min | 3 years ago

"matthew aaron" Discussed on CRYPTO 101

"Yeah, I think you know, we, we have a real problem with that wild west approach. I mean, even earlier in Hugh one of this year, there was a report out that forty six percent of the ICO's from two thousand seventeen had already failed. So for the most part in our fund, we do not invest in ICU house were on a secondary market looking for exchange traded liquid assets. You know, we're taking the Goldilocks approach to to crypto assets were not looking for the ICO latest project. That's gonna give a thousand Bagger. We see that as to risk a, you're too hot. They don't have a. Product built yet. And yet we don't wanna take that passive index approach where we're just buying the top ten crypto assets. You know, we really see that as too cold and not capturing enough of the upside. So our model is that mid cap, Goldilocks approach where we're looking at network value or market cap of crypto assets between one hundred million dollars and two billion dollars, and that's really our our sweet spot. And we think that gives the best risk adjusted returns from the blockchain space, Aaron, Paul, what do you think men like? Look, you have companies that raise one hundred million if they might have been ICO's and they could be liquid now that could be exchanged traded, but they still have no project and they have one hundred million of the investors dollars that they might call contributors do. Do you think that this? I don't think this is wild west anymore. I think that the wild west was there because everybody was greedy. But what we have is a lot of people that did, I would say borderline illegal fundraising practices. What do you think Erin? Well, I'm not. Lawyer. I think that one of the things that excited me about the space is that I had a rare opportunity in time to invest in something. I'm old enough that I remember the dot com bubble. I'm old enough that I remember friends getting into building a website and and I was like, man, I missed that shit. I missed it and I'll be damned if I'm going to miss the next tack, the next wave. And I'd have a little bit in investing before crypto currencies. And when I was talking to my friend, Matthew Erin about getting into investing and you said, hey, man, check this out. And so I did. And I said, wow, this is, you know, 'cause as an investor, you learn at an institutional way as a retail investor, the difference between, oh, you're just a retail investor, and this is an institutional investor and they have access to all the candy, and you have to sit here with, you know, broccoli. Right? You gotta eat your broccoli, I. Yeah. And and so I came in to the space and I said, wow, I get a chance to be like an angel investor and then money's disappearing. Right? And you're, you're sitting there going oldest, decentralized, anarchic kind of thing. You know, the thing that brings people over to not government, ran the people get the run it, and there's bad actors and they take your shit, and they took people shed as a just a normal dude. I ask myself. Yeah, I mean, and you talked a really smart guys like Richard Burton, right? Remember we had Richard Burton on. He said, why are people trying to build rocket ships when I haven't even built a skateboard normally how this works is you get a little bit of money, you better prototype, you build the skateboard then you build a bicycle. You make sure the bicycle works and he put a little motor on it. Call it a motorcycle, and you keep getting more money as you scale. You can have a vision, but you just get a little bit. It as you perform, you know, I guess I kind of feel like what you're saying Matthew as there's there are pitfalls between a decentralized organization in a centralized organization, a centralized organization being all these rules and governance, etc. Etc. In the allure of a decentralized way that anybody can make money. Right. So who's in charge, right? That's a really good point..

Matthew Erin ICO Richard Burton Hugh Aaron Paul one hundred million dollars two billion dollars forty six percent
"matthew aaron" Discussed on CRYPTO 101

CRYPTO 101

03:20 min | 3 years ago

"matthew aaron" Discussed on CRYPTO 101

"Erin Pau sir, how you doing Matthew from? All right. Thank you. Hey, man, long time. No, talk going to one sir. What about doing lately? Yes, sir. World masters IB j. f. going to sell my house, find some other rental properties, reading a bunch of crypto stuff. That's about it. You're also gonna have another baby, aren't you? Oh yeah. We've got a baby on the way to one of those little things you. Yeah, you know, just not doing nothing lately. We're here with Mr.. Jake Ryan, Jay, how you doing today, sir? How's it going? Dies. Nice to be here. Excellent, excellent. Jake, we're really happy to meet you reach out to us and we have basically today's just an open four-match show ring, get to know you a little bit, but we have so many topics and some gripes, it's pinions and some ideas that we just want to get off our chest and well man after wrapping up with you, we're like, yeah, we got a rep out with this guy on the air on crypto one to one. But before we go into that, Jake, introduce yourself a little bit. My name is Jake Ryan. I run a crypto hedge fund called tradecraft capital. My background, let's see. I got a degree in computer science and for most of my career, I was a software developer and had a technical background. I published a paper, I think now it has probably six hundred or more Google citations. And so most of my career was in the technology field Aranda consulting firm and did a lot of custom application development win crypto came around. I really saw the intersection, a technical skill set in a passion for investing. So. I started investing in bitcoin in two thousand sixteen and from there really just built up more conviction in two thousand seventeen and started a fund early this year, which ended up being tough, but made that transition. And now we're here right on right on tells the bite, your bitcoin trading journey. Yes. So I mean, two thousand seventeen was an interesting year the, you know, there were ups and downs. We actually had a period of thirty or forty percent drop in in bitcoin in the summer, but there was a obviously a period of big gains. So I did. I did pretty well. I think one of my best trades was probably OS. I started buying that early summer I think has started about a dollar fifty and I really just kept dollar cost averaging into that position ultimately kept it was going down dollar twenty five dollar. And ultimately I think bottomed vowed around fifty three cents. And so I was looking at, you know, sixty percent loss. But really just continuing that conviction and dollar cost averaging into that position. So I had quite a bit of Yosemite things turned around for for that choline around September and started deceased. A massive gains I was able to sell US at one point, hit almost twenty dollars. So we're talking about an average position in maybe eighty three cents and being able to sell along the way points a twenty dollars. So that was a good trade for me. I was, you know, ten x or at least so the beginning of this year we've, we've been in a consistence sustained bear market, so it's been tough. Our job is to to give our investors overall exposure to crypto assets abroad, long, only exposure into the crypto asset a space..

Jake Ryan Erin Pau US Google Matthew software developer Jay twenty dollars twenty five dollar forty percent sixty percent
"matthew aaron" Discussed on CRYPTO 101

CRYPTO 101

01:50 min | 3 years ago

"matthew aaron" Discussed on CRYPTO 101

"Another example. Let's just say you, you tell somebody, hey, I race you for kilometer. And they're like, okay, cool. I went across the finish line wins. One guy starts running really fast because it was implied that they're going to run. We kind of both know what he means because this is I will race you in when people say that you kind of like any over standing there, maybe in the park or whatever. And you know, it's just implied. We're gonna run. Maybe they're both standing there running gear. Well, the other guy takes off running. The other guy sees. There's a carnival right next door hops into the canon and shoots himself over the finish line lands. Their breaks a leg says, hey, I won. And you're just like what the, but that's not what I meant. Smart contract. Who determines that the those means who were the end now, do you have to write that in all the contracts? Is it possible to have a smart contract that implies the implied meaning or the non verbal contingencies? Can you read a smart contract for all those means or non verbal contingencies to meet that end? Another issue is smart contracts in the law. Some contracts are just illegal like contracts to kill your mother. Sorry, don't wanna talk about anybody's mother or killing anybody's mother hope. Nothing bad happens to anybody's mother and everybody lives forever and ever never, but it is legal to make a contract and it's not enforceable by law to have a contract that is a legal. However, if this is a smart contract, who is to determine that that contract is legal or not legal, and where's the line where it is legal, it's not legal. So. I was thinking of example of social media algorithm to help determine it's the illegality for example, let's use playing a concert..

"matthew aaron" Discussed on CRYPTO 101

CRYPTO 101

04:32 min | 3 years ago

"matthew aaron" Discussed on CRYPTO 101

"Let's just take that situation. This is a little John comes over to solve as the snow. The situation is little. John is gonna shovel Pat snow. So the contract could be rid written. If John shovels the snow, then pet will pay him five bucks. Maybe another line would be if John shoveled the snow by five PM, then Pat will pay him a hundred percent of the money. If John shovels the snow and is late by one hour, then Pat will pay him eighty percent of the money. And so on. If this is a normal contract problems that could arise would say, hey, you know what? I was just kidding, or, you know what? I don't have the money right now or. You know, I don't think that how actually I think it's worth four bucks or you got done faster than I thought, I'll give you three bucks. Won't the conditions were if John shovels the snow, Pat will pay him five bucks if done. So the snow by five pm, Pat will pay one hundred percent of the money and so on. So you see how that there's going to be less room for debate in the smart contract is going to be a conditional statement in an agreement between two people leaving out the middleman. So Inishmore contract, an asset or currency is transferred into a program in that program runs this code, and as some point automatically validates a condition and it will automatically determine whether the assets to go to one person or back to the other person or whether it should be immediately refunded to the person who sent it or in some combination of the different options that are in there. Now, this is a quote from metallic and what he says a smart contract does now remember that this is going to be a Pete p. sort of agreement right now, you have different things in place that kind of us contractual agreement for person to person, kind of like Airbnb or Uber. You have person a. calling. Uber, the Ober driver person be comes, picks you up and drops you off upon completion. He marks, I dropped him off. You Mark dropped him off. It's done the Airbnb app, which is the third party escrow account, then transfers the money necessary in completion of the action. Now, what smart contracts wanna do is they want to take Uber out of the equation. So Uber doesn't have to be involved. So for example, there's different black chains and coins out there that are trying to make decentralized platforms. Things like bit shares, decentralized exchanges, kind of offer the same kind of idea. Imagine an Uber builds off of decentralized exchange, or I'm sorry, decentralized company, and now everything is find it setup there. But this network of PDP individuals are now in in contracts with each other directly through the blockchain. Now, if you're a direct indirect contact with a person. To try to do a service than a smart contract would be kind of needed or necessary because we are now taking out the trust of this said third party. But now we are just communicating with the driver driver. Take me here. He takes you there if the driver takes me there than I pay him five bucks. That is a smart contract. Why are people excited about smart contracts? What are the benefits will has nNcholas Cornell professor at Wharton school of business says, there are two primary reasons why people are excited. The first is about gains in efficiency. Anytime you can automate a process in remove the human element. There's a possibility of transformative increases in efficiency and reliability. Just think about what computerization has done in other areas of our lives. Second reason as Nicolas says, people are also excited about the possibility of removing human institutions in particular government institutions from an important function that they are currently playing right now. Right now, contracts depend on legal system administered by government. This requires trust in a coercive and fallible authority. So for the same reason that bitcoin enthusiasts are excited about the prospect of currency without a government. Smart contracts enthusiasts are excited about the prospect of contracts without a government run legal system. So let's imagine a real situation attendant and landlord relationship. So the tenant is renting an apartment from a landlord..

John Pat shovel Pat snow Airbnb Wharton school of business Pete p. Mark nNcholas Cornell Nicolas professor one hundred percent hundred percent eighty percent one hour
"matthew aaron" Discussed on CRYPTO 101

CRYPTO 101

04:14 min | 3 years ago

"matthew aaron" Discussed on CRYPTO 101

"Facebook or Twitter, Instagram links join the conversation. Come talk to people that are in the crypt of space to learn to explore to share ideas and will discover the future of technology and blockchain become a patron, the patriots. I've always said the backbone of the community. They have always been there to give us a little bit of support when we really need it. I got a couple of prizes on the patriot page for you. Patriots. So please go to. Patron page and check it out. Don't forget to check out our YouTube channel. Crypto went two one with Matthew, Aaron for roundups and my opinions on all the episodes that we put out also make sure to subscribe to us on Cass box. Soundcloud. I tunes podcasts or anywhere you get your podcast leaves a rating and comment. It helps us immensely and don't forget that. ICO went one with Aaron. Pau is showing up in the crypto one o one feet. Now without further ado, we'll see you after this show. I smart contracts are basic, if and then conditional statements. If you do something, then this happens and I'll go into more examples in the future. But first, let's talk about where smart contracts come from. I then they were first proposed by Nick Szabo in nineteen ninety six. But I also heard nineteen ninety four. So between nineteen ninety four and nineteen Ninety-six, Nick Szabo has proposed smart contracts. Now, Nick Szabo is I think you heard his name. I in the Douglas pike interview, and he is a pioneer in this industry. Blockchain cryptography, digital currency, e-money and Nick Szabo is a computer scientist, legal scholar and cryptographer known for his research in digital contracts and digital currency. He graduated from the university of Washington in nineteen eighty nine with a degree in computer science. He also obtained a law degree from said, university, Nick Szabo designed mechanism. For decentralized digital currency. He called big gold. Big old was never implemented but has been called a direct precursor to bitcoin architecture in Nick Szabo's bit gold scheme. And I don't like the word scheme because it sounds bad, but the participant would dedicate computer power into solving cryptographic puzzles in a bit gold network solve problems would be sent on the Byzantine fault, tolerant public registry and assigned to the public key of the silver. Each solution would become part of the next challenge, creating a growing chain of new property. This aspect of the system provided a way for the network to verify in timestamped new coins because unless a majority of parties agreed to accept new solutions, they couldn't start the next puzzle. So this is actually very much like bitcoin or the idea. Of course, it's different now, but you see where this is coming from the evolution. So this was basically Nick Szabo. Another interesting fact of Nick Saban is in two thousand eight, a mysterious figure who wrote under the name of Saito Shihan Camaro released a proposal for bitcoin. Nakimora was true identity remained a secret, which led to speculation that in a long list of people speculated that Nakamoto could be Zabul, but Dabo has repeatedly denied it. So Nick Szabo and I almost I'm ashamed to admit that I didn't know who this person was before. Doug pike introduced him on the podcast and on that I've been researching who he is and learning more about him. He's important. I think crypto wanna one is going to do a whole segment on Nick Szabo because of just how important he is. And I think it might take two episodes because the dude has done everything in the space, but I'm going to move on for now. So what is a smart contract? Like we said in the beginning, it is an if then conditional. And so let's take this example. Let's say we're going to hire somebody to shovel snow. Wintertime's coming up. Sometimes you get the plows. Sometimes guys get the Kaiser, the truck with a plow on the front of it. Sometimes you got some kids, you know, with a wagon and that's full of shovels, and they come over to your your doorstep knocks on the door and say, hey, you wanna shovel one as the Soviet driveway and you go, are you five bucks kid?.

Nick Szabo Nick Saban patriots Facebook Aaron YouTube Twitter university of Washington Pau scientist Doug pike ICO Matthew Nakimora Saito Nakamoto Dabo
"matthew aaron" Discussed on CRYPTO 101

CRYPTO 101

01:55 min | 3 years ago

"matthew aaron" Discussed on CRYPTO 101

"You're welcome to crypto wanna won the average consumer's guide to cryptocurrency this is matthew aaron is danny i'm solemn for the final time in this series i am so happy danny you have stuck with me through three days of this oh my god literally three not really it's only been a couple of minutes right i think so you guys that's radio magic right there daddy has been sitting in his living room with his shirt off eating ramen noodles this whole time i've been recording oh this is a healthier dinner arguing against the fact that my shirt is not but i'm just eating a healthier meal so what are we talking about today to any we're covering the basic technical terms that everyone should know without getting super technical right i hope so let's see how we do with this one because the thing about basic type terms is there's nothing basic about technical but we're gonna try to make as one on one and his easy and it's simple as we can danny i word we have on the on the chopping block today is black lock boom well it comes from blockchain right or does blockchain come from block that's one of those chicken and egg things i never read my mind around okay block is simply a recording of information blockchain is revolutionary technology that we talked to you about in the first episode where you can create permanent security to recordings can record any information but it's started with recording transactions and those transactions were grouped into a block i have a little analogy year last time we said blockchain is like an excel spreadsheet and yes that's true but if you were to imagine the blockchain as a book of records distributed ledger if you're if you're imagine as a book of records then each page in that book is what is known as a block and blocks attached to each other one by one by one by one all in sequence and that is the blockchain that's a that's a great analogy danny.

matthew aaron blockchain danny i three days
"matthew aaron" Discussed on CRYPTO 101

CRYPTO 101

02:02 min | 3 years ago

"matthew aaron" Discussed on CRYPTO 101

"You'll you'll woke up to one to one the average consumer's guide to crypto currency this is matthew aaron and this is dany 'em solemn this is the start of a three part series that's going to be released day after day for the next three days talking about basic crypto words words that you're going to hear in the crypto space that you might not know what they're talking about and we just want to clarify this and these words are coming from decryption airy dot com yeah that's the simplest crypto dictionary and beginner's guide whose whose website is that danny oh that's my website oh wow asking i didn't know that anyway today we're gonna start with basic crypto words and these words are words that you're gonna see you might know what the mean or you might know the words but not know exactly what they meaning context crypto currency in our first word today is currency danny yes currency is one of those words that we all think we know but maybe we don't know all of it here's a definition for you currency is simply a system and its units for exchanging value the value each unit is just agreed upon by all of us to be worth something right and then you use those units to pay for things in services as well as your own debts the part that i find interesting is the history of the word currency comes from current meaning in use now currency is usually a news now because the government or banks produce it and we all agree that it has value right says to you matt that sounds amazing yeah hell yeah the next word is cryptography now cryptography is the study of making information unreadable so it's kept secret there are many types of critique graffiti including hiding words and images using microdots and computer programs in crypto currencies we hide money and the people who sent them in a scrambled unreadable form so now we have cryptography and we have currency and we're gonna put those together danny and those are going to be crypto currency stop i said danny what does it mean crypto currency is an electric money it's digital money it's money that you.

matthew aaron dany danny matt three days
"matthew aaron" Discussed on CRYPTO 101

CRYPTO 101

01:53 min | 3 years ago

"matthew aaron" Discussed on CRYPTO 101

"In short start engine provides a complete token ecosystem if your company wants to lodge a security token offering just go to start engine dot com slash crypto wanna one for a free consultation and twenty percent discount on future ico setup services that's start engine dot com slash crypto went to one this is not the advice no back to the show the blockchain terminal developed by new york based cg blockchain inc is a new tool for the hedge fund industry in institutional investors to confidently by trade and invest in crypto the blockchain terminal bridges the gap between institutional investors in the crypto currency market by combining market data from over sixty exchanges information about upcoming ice ios and news from publications and social media the blockchain terminal gives you a complete picture of crypto trading institutional investors may hesitate to invest in crypto currency however c g blockchain's unique compliance card technology creates a compliance framework placing you in a secured and monitored environment the blockchain terminal offers you a consolidated orderbook showing the price and state of the market across multiple exchanges and a consolidated wallet that allows single account to trade on multiple exchanges using third party applications including the blockchain terminal this means you can access on the third party applications thousands of available crypto currencies from over sixty exchanges the barton terminal runs on digital token to be issued by cg blockchain affiliate b c t in this token is used to register and transact within the platform the bbc t inc token sale is available through the thirtieth of april two thousand eighteen joint btc inc at token sale dot btc the iso and visit the website btc dot io for more information now back to the show.

new york cg blockchain inc blockchain barton bbc t inc btc inc twenty percent
"matthew aaron" Discussed on CRYPTO 101

CRYPTO 101

02:01 min | 3 years ago

"matthew aaron" Discussed on CRYPTO 101

"Hi everyone just a reminder that this show is not good by trading advice financial advice for personal vice enjoy the show and thank you very much this show is sponsored by health i q getting people or rates on their life insurance by staying fit and also by the various foundation making solutions on the blockchain to tackle hospital administrative costs yoyo welcome to criminal wanna won the average consumer's guide to cripple currency this matthew aaron and today we have on the professional safer punk the creator of steptoe she and a person that has almost a hundred and fifty thousand followers on twitter mr jameson lap and mr denison lop has been on podcast on youtube he did presentations wrote articles and i was thinking what could matthew aaron ass jameson that hasn't been asked before and after listening to about half a dozen interviews with him i realize one thing nobody bothered to ask jameson jameson who are you what are you like where were you born what do you do what do you think in why does that in how does that all relate to blockchain and your commitment to the cryptocurrency and blockchain space and the future of it so that's what we're gonna do here we're going to get to know jameson a little bit better and hopefully at the end of this you know a little bit about this man mr jamison love but before that please go to crypto wanna one podcast dot com that's crypto wanna win podcast dot com they're you can subscribe to us on items please describe to us hit the subscribe button and leave us a rating and helps us out a lot also tax season it's almost over he prefers is right around the corner go to hit the button on the top to get a hundred dollars off your crypto tax preparation sends email see what's up you can join us on our twitter you can join us on our instagram also come out our facebook group and ask questions if you have any a great place great people in the community i love them they're the best we have the best community so without further ado please enjoy this conversation and we will see you after the show jameson la.

matthew aaron youtube jameson jameson twitter mr jameson mr denison lop mr jamison facebook hundred dollars
"matthew aaron" Discussed on CRYPTO 101

CRYPTO 101

02:08 min | 4 years ago

"matthew aaron" Discussed on CRYPTO 101

"Eric dill the new boom brunell his and you brunette gan on more two really value you'll woken decrypt i want to win this is matthew aaron and commentary rent number eleven bitcoin split did not happen and the interesting thing in one of the reasons why i'm doing this ran today is the all the different aspects that are coming out of this rise to the split bitcoin cash the media the bitcoin isolationists unom know what you wanna call them isolationists bitcoin's you know folks the one and only bitcoin or the bitcoin worshippers i dunno can i think between is actually a religion at this point because some people are just a rational about bitcoin now what be queens should be you can fork you can't scale bitcoin bitcoin court the original one in only bitcoin but bitcoin these the change bitcoin was created in two thousand nine two thousand eight two thousand nine it is to don imagine having a cell phone from two thousand eight or two thousand nine i don't have a cell phone from two thousand aimed to the other night it's old technology i don't even know if my cell phone from two thousand nine we connect to the the interweb or the use the network the sell cellular network that's out there right now i know think it's it's compatible and not only even if it is compatible with the can do anything that i wanted to do can i sent a tax i don't i don't even know how to send a text anymore i don't text i use messenger apps facebook messenger we'd chat twitter if at like these are these the ways they communicate with people i don't make phone calls and if i do is through facebook messenger or what's up i don't douse maize number i dunno anybody's number and i never asked for anybody's number and i don't know maybe phone calls i've been to the.

cellular network Eric dill matthew aaron facebook unom