39 Burst results for "bitcoin"
Fresh update on "bitcoin" discussed on Sound ON
"World Headquarters. I'm Charlie Peddled worst week for the S and P 500 index since February, the whole curve flattened amid a Fed reset. S and P Down 55 down 1.3% the Dow Down 533 down 1.6% Now stack down. 131 down 9/10 10 Year Yield 1.43% Today we saw the NASDAQ 100 Index dropped by 8/10 of 1%. I'm Charlie palette that Bloomberg business Flash. You're listening to Bloomberg Sound on with Joe Matthew on Bloomberg Radio. Thanks for joining us as we keep an eye on crypto today, Bitcoin falling. Slipping below $36,000 here, remembering it topped out above $64,000 back.
Aleks Svetski on Bitcoin as Sovereign Money
"Our guys bang bang got ox here with what's going on man. What's up man. How are you No voice left sudden hung into this Were talking shortly after a pretty big news of el salvador about a four day period went from Announcing that they were going to create. Bitcoin is legal tender with nice within el salvador or accepted as legal tender Then they basically put forward a bill. They voted on it. They passed it. It's now legal tender. The president jumps on twitter spaces. He's time all kinds of answering questions. Like super candid Seemed like a pretty open book at some point. Mining comes up. He's like oh well. We've volcano a volcanic energy. That is one hundred percent renewable hundred percent clean zero emission And basically free. Maybe we could use that for mining twenty four hours later. he's literally already drilled. The well in mike seems like he's up to the races. What the hell is going on. Now this is. I mean el salvador. Bitcoin it's like the this space moves so fast it's like two weeks ago. The pope was like we can't use bitcoin two weeks later. We've got a country putting some bitcoin. Like talk me through like from what i understood. It's they're going to so they've made it legal tender people who don't want to hold bitcoin. They can actually sell it back to the government. So the governor's gonna hold bitcoin and give them fiat. Is that right so In all salvador and again this is a over generalization. But there's basically two banks that you're going to hear about your here about the central bank right or or kind of the the state balance sheet the reserves because they technically don't have they don't have their own currency so there's a reserve assets of the government. There's this development bank that is owned by the
Fresh update on "bitcoin" discussed on Lifestyles Unlimited
"Radio News with Lance Pride The Kremlin said on Thursday was pleased with what it called a positive summit between Russian President Vladimir Putin and his US counterpart Joe Biden, putting out a joint statement that reiterated the need to avoid nuclear war as significant. Senate Budget Committee chairman Bernie Sanders, the independent from Vermont, said Thursday his committee has open discussions to consider a $6 trillion budget reconciliation proposal. Sanders said the package would include provisions to expand Medicare, lower prescription drug prices and possibly address immigration. The World Bank has rejected the government of El Salvador's request to help the country implement Bitcoin as legal tender. The international lenders rejection could hinder El Salvador's goal of making the digital currency accepted across the country within three months. Thanks for listening and gift to you. We are USA Radio News. Trading involves financial risk and is not suitable for all investors. Past results do not guarantee future performance.
Everything We Learned About the Bitcoin Mining Council
"In december elon musk. Michael sailor started tweeting back and forth a bit. Bitcoin were already in the modality of companies. Adding bitcoin to their treasury and sailor had already emerged as one of the top evangelists. Of course this got tongues wagging at the end of january. Ilan changed his profile to read bitcoin and tweeted. In retrospect it was inevitable in february tesla announced that it had purchased one point five billion dollars in bitcoin and that it would start to accept bitcoin for payment for vehicles. Bitcoin cheer and our bags. Rejoice as we're rocketed up the next leg of the bull run but it wouldn't be a good story without a dramatic arc. Now would it almost immediately. We saw the downsides of ilan's involvement to go right along with the upside of price. Those downsides included one the alignment with an unpredictable twitter user. More likely to show those than to do. Anything that bolstered bitcoin and to the scorn and condemnation of the legions out there who dislike elon that second category includes many who profess to care about the environment who basically view tesla or ilan himself as a great green washer. In retrospect it's pretty clear that tesla's involvement did more to ratchet up a focus on bitcoin's footprint than to alleviate concerns about it by the end of april a new concern tesla had sold ten percent of its. Bitcoin alon profess that it was only to demonstrate the liquidity of the asset to stakeholders. But it was still jarring by a month later things had gone really sour alon announced that tesla was pausing sales of bitcoin due to environmental concerns w. f. the collective cry rang out. Do this guy seriously. Just learn about the environmental footprint of bitcoin. of course not what's far more likely and commonly accepted. Is that behind the scenes. There were serious pressures pushing tesla any lana on the bitcoin. Question for example. Es focused etf that list tesla who because of bitcoin
Fresh update on "bitcoin" discussed on Software Engineering Daily
"But also the lack of centralization also of minors but of coin holders as well i mean in bitcoin for example most of the bitcoins and the majority of the coins in the system are held only by several wallets and this is due to the racial nature of bitcoin. I mean the the strongest survives and the strongest gets the rewards and who ever has the more gpu's and whoever can produce blocks faster and is found in key points is the minor gets Most of the coins which is a bit of a problem if you want. You're going to be used. if only several wallets contain. Most of the coins means data. A lot of other miners. Didn't get it and they're like left out of the game. So this is one problem. We've identified in blockchain's in general. The other is the the barrier to to enter the blocking so the centralized protocol and it's spaced on large amounts of miners to join. This is a very good for a network security so as we said before in previous protocols unless you have a lot of money to stay steak or unless you have a very powerful mining machine and you're located in certain regions that power is cheap for you and that cetera et cetera. So only then it will be profitable for you to my in participate in chicago so this is another problem. We have debts. The normal user can even join and can it's like get in on this protocol actually and so these are two key points and also basically on their rewards and this all comes down to rewards. And if you don't have the currency you probably won't use it so space. Mesh has learned from the past and from these protocols and we believe that space-time basically solves these problems because it offers everyday people and everyday machines the opportunity to mined the coin. It's not very seaworthy. You intensive at won't consume a lot of power such as bitcoin miners and this all contributes to the security of the system. Because if you have a lot of whole minors. It's hard to collude and to divert the global ledger to your direction or some sort of direction and also it's will it's harder to corrupt minors and have them disallow some transactions and promote other transactions. So this all is like a holistic system that is basically making blockchain. Sounds like a a model better but it it like it emphasizes the the good parts of blockchain it emphasizes the security emphasizes that distribution it's efforts the centralization and this is all thanks to a personal space diamond the way we've built our protocol that is not like specifically a blockchain where in each point in time only a single block is created we are a block mesh and in a certain point of time many blocks created so instead of having one minor decide on which transactions to take in right now and to add to the global ledger and one minor Having receiving the rewards for this a-block we have many miners as much as two hundred. And maybe eight hundred miners. That's will be transactions to the block mesh at certain point in time and will receive rewards for them so basically makes it more robust and less prone to corruption or centralization. Wanted take a moment to step back here. And talk about crypto entrepreneurship in twenty twenty. One we can definitely go deeper into space mesh. But i think this really interesting time where basically people like. You teams like you like. You are on Groups are very smart. People can essentially plays a really big bet on this space and the opportunity for discovery. And and kind of you know a lot of a lot of the research. That's being done is somewhat speculative and you're you're betting on a a really big potential outcome you're betting on on this currency eventually taking hold as as a really lucrative and meaningful and powerful in endeavour. I'd like to know a little bit about the economics of how you manage a project like this responsibly. intelligently take me inside the management of a nascent crypto currency development project. So i'm gonna tell you from my perspective. Obviously i wasn't not founder of space mesh but from what i've seen so it's like as you said it's we're exploring some uncharted territory right now. Also in space mission. I think in a lot of projects in the blockchain community and some of it is pure research like most of what we do in space. Mish is communicating with our research. Team like we have a development team in research team and we're going back and forth like the research team may come up with some algorithm and then we will implemented then we will test it and see its strengths seats weaknesses. fits like working on. I don't know a p. c. or something and then we go back sometimes to the drawing board and we've had like algorithm that have been replaced for three times already and this is like i think the uniqueness off the blockchain interesting because it's still mostly experimental and we're doing things and we're thinking about things that haven't been done before and we're trying to make like i think each space mitch. Also trying to make the best. And most i think i would say convenient. But the most blockchain. That is sustainable. Both in terms of running it.
The Emerging Role of Bitcoin in Spreading Malware
"So professor what we are talking about here. Today is the work that was undertaken by yourself and your colleagues on the emerging row of bitcoin empowering advanced malware and what we're really looking at here is the use of bitcoin blockchain to cigna the location of the master bought and for some of our listeners. Who are not too familiar with this. Concept are some call it the command and control infrastructure or the c to order. Cnc which you be able share with us the inner workings of this See to cnc infrastructure in spreading propagating executing malware to launch ransomware. Didata tights certainty. So when you are a criminal and you want to infect machines for your personal gains for example to use them to send spam messages or to mine cryptocurrency or to do advertisements. These kind of things you are going to cast a wide net and you're going to infect machines on the checked for example by by fishing or by drive by most these things but then the problem is now you've infected a number of machines let's say hundreds or thousands of computers which are now running your mail. We're how'd you get commands to them. How do you instruct them what to do. So what you need is a commodity control server some machine some central point way. All of these infected computers are contacting asking for things to do for example which emails should send out or whether uploading some too because some of the malware might be stealing your credentials. Your passwords credit card information somewhere this inflammation needs to be dumped so that the cyber criminal can actually make use of it so this is what we call a commodity controlled server. And that's kind of essential point the over your point where the buck nassir has an oval. That's currently going on. Like how many butts are there with. They can send commands and we even know about the si infrastructures where the buck nasa can take chunk out of the button it and rented out to other people
Fresh update on "bitcoin" discussed on Software Engineering Daily
"Space is has a lot less impact and Also from a customized hardware aspect as i said Space mission doesn't require any custom hardware because It doesn't really matter like on. What storage device. You store your roof and as opposed to bitcoin for example where you need custom made hardware to mine and participate in protocol and doubt currently like none of us unless they have some designated hardware can actually participate in this protocol. Bitcoin i mean in space. Mich- by design made it easy for home users to join and participate in the protocol. And thus not requiring like any extra hardware to be added so this is like we haven't done the exact calculation and we do know that there is some where too hard drives. But the way we structure this protocol is writing to the to the hard drive and reading from it is not done like on a daily or hourly or a base. It's done every once in a couple of days which will wear too hard drive down but a lot slower than Let's say an eighth thick dots minds bitcoin. Because it's always on and it always needs to produce these numbers to participate in all right. We laid out some scientific motivation for building a new currency on this different proof model for the ledger. But i'd like to to motivate the conversation even further before still before we get to space mesh specifically the idea of wove currency future. So the idea of a world in which there is not just a fiat. There is not just a bitcoin and theorem. But there are actually a wide variety of tokens and currencies. That we are all transacting with. I want to get your perspective on what this world looks like. Because you are working on a currency that is based around proof of space and time and i'm guessing your perspective is that the currency in which this world thrives you're you're the new currency working on is not disjointed from a world in which a theory and bitcoin survive like you are envisioning a world in which there are multiple currencies. They play different roles They do different things there. They function within different platforms. I'd like to get your perspective on what that world looks like. So you're correct. Data space mission visions future where it was is alongside other protocols in other currencies. Like personally. I don't believe there will be that much protocols. In doubt much currencies out we have today will eventually cease to exist because they serve no utility for people use it and well the situation right now is that we have a lot of more of the same currencies but there are a several currencies which do serve a specific caused lake. Some of them are more secure in terms of an on more anonymous. I'm sorry i'm of them. Allow you to run applications on off of this on top of the blockchain's on this distributed alleger ords Centralized system in general. And i envision the actual coins or protocols that survived that these will be the ones that actually serve a utility and are sustainable for a long time so currently as i see it. It's we're although. Bitcoin has been around for like twelve years or something like that. We're still at the beginning of understanding. How this whole block. Blockchain thing works and what benefits we can get from. Its and like right now. We're experimenting like there are a lot of projects in on like the that are being developed right now some focus on anonymity some focus on speed some focus on the size of the lead self and all of them are good. Because i think eventually ideas will move between projects to create a better and more sustainable and secure and small currency that will allow Allow us to actually use it and not the story to planted while doing that or being affected by some sort of collusion or or some sort of like corruption of notes. So right now. We're just seeing the beginning of it and i think that there are several very very good ideas and good projects that are being developed right now. That's the technology that is developed. Right now will be used and i think like join with other technologies of blockchain to create something really sustainable and in that we can actually rely on and use as a viable alternative to the current Fiat infrastructure and model in general. So like i envisioned disliked as several groups of people that research different of this new world. We found out about ten years ago. And so we're researching and we're we're working on. We're trying and failing and succeeding and eventually we will evolve into something doubt combines most of it and i think benefits from all these projects altogether as.
Bitcoin OG Explains How to Keep an Open Mind
"Our guys bang bang. I've got eric here with be doing. The sir makes me on for sure. let's just jump right into. I think was probably one of the most interesting things that you've been spending time on since last time we had you on the podcast which is shaped shift has essentially transformed itself. You've completely ripped out all the centralized infrastructure and you really turned into this new model Where it's an interface to all these decentralized protocols just like what exactly does that entail wide you do it and how's it going so far. Yeah so for. Most of our history shapeshifts was essentially an exchange or we would take one coin from one person in send a different coin from us trade with us and it was non-custodial and that we didn't hold any balance but we were essentially an intermediary to each trade and in twenty eighteen. That's what got us all caught up in all of the financial regulation in which we had to impose. Kyc and I would call highly unethical surveillance on people which we've been fundamentally opposed to So we've been searching for a way out of that you know we can't break laws but i also don't want to spy on people and i don't wanna be a branch of the government surveillance apparatus to how do you have you square that and the way we square. It is by integrating decentralized protocols now so we no longer are an intermediary in any way we do not trade with customers We are no longer a financial institution and that means that we do not need to. Kyc people it means that we do not need to act like a bank and we can let users trade directly against these decentralized protocols in a really really cool way so we've completed that transition now and as of april fifteenth tax day. Ironically we are fully fully out of that mess
Blockchain: What Is It Good For?
"Thanks the perfect storm of slain. You saw big marketing budgets and elon musk's tweets blockchain has been hyped beyond belief. And it's also been made more complicated than it leads to be. More i could up angolan go. My name's ingram go. I'm senior vice. President and chief technology officer for a special intelligence at hewlett packard enterprise. So first question. What exactly is a blockchain. Let's start with a public blockchain first. Let's use an example of a analogy of a of a ring binder. You've got this notebook with many blank pages bound by a ring ring binder on page one the record number of transactions. You know. maybe. Jim pays john two bitcoins and sarah pays jim ten bitcoins and so on and so on then on the next page You have the same again. Set of transactions being written down on it and the knicks page and then expansion so on so if if you imagine each page is a block and all the pages of bound by the ring bind up being the chain. You actually have a a blockchain there right. So that's what blockchain is except for the fact that in a public blockchain this ledger or this record. Write this chain of pages. Chain of blocks is digital and is distributed to everyone publicly equally publicly with no central custodian. Why you want to use a blockchain. There are two major reasons. Why you want us a blockchain right first and foremost this when you wanna keep record of an entire sequence of transactions especially if you want to go all the way to genesis the beginning and secondly you won that record to be transparent that is you want the decentralize it by distributing copies of the same sequence records to everyone equally with no central custodian
Bret Kinsella on BOT Coin, a New Tool for the Voice and Chatbot Communities
"You share with us. A little bit about you know your your impetus for creating coining the idea and And then let's chat a little bit about it and got some announcements to make around. It is okay all right great so the first thing i would just like to say about bitcoin is. I don't think it is like me. Creating more of a we created it because there are a lot of people that were behind this and i wouldn't have done it if it was just voiced bought alone. That was working on this. So that was that was one thing. But if i step back really the whole idea started with this this this other trend. We've seen among people in the industry. The ones that you and i interact with most frequently. And that's the community voice Developers owners the preneurs the business Business folks that the big companies even and what i notice happening starting about two years ago as the startup fragmentation and that accelerated last year. And so you know. I think about like three years ago we all got together in newark right and so we will together and last year. We weren't able to do that so that wasn't able to bind us together. And there were some other types of activities that we're all binding us together whether it's all building skills or doing something else and that just that just evaporated over the last. I would say two years but it was really cute last year. And so i was thinking that. That's one of the things that we do and that's really the core of your business is community but we are sort of a central gathering place at voice spot for lots of things. So i think i think we do something around community known sort of a side project that i'll do just to provide value. Everybody and that. It looked actually for a fleeting moment like clubhouse was helping with that. 'cause everyone was getting together not everybody. But at least ios people and then later the android people We're we're getting talking but that's not really a community platform so that wasn't going to quite do it And so basically. I settled on two things after talking to people about coin and the voice about discord
Tesla Rumors: Model Y, China, Suppliers Plus Plaid Updates
"Everybody rob our here. Welcome back to tesla daily. Hope everybody had a great weekend. We are now back to the normal format and today. We're going to be discussing some news. On tesla out of china we've also got an update on a model y both pricing and demand news on bitcoin from ulan. Musk couple updates on the plan model. S a price target lowering from canaccord genuity and a couple of other pieces of news as well decent. Start of the week. Four tesla stock finishing up one point three percent today to six hundred seventeen dollars. Sixty nine cents. That compared to the nasdaq up. Three quarters of a percent so pretty good mackerel tail wind today for stocks like tesla art will start off in china today. We've got a few pieces of news. Some rumors some clarifications to make i is an update from a chinese tech supplier name to opo they supply in addition to tesla. Major automakers like volkswagen gm via chrysler. Bmw et cetera. And i believe this. Update that i i saw shared out on twitter by rafer tesla was an update from an investor. Call and it looks to me like in a question and answer portion of the call. Tessa was brought up. Or at least. I think that is the inference from context clues and unfortunately this is translated. I don't have a really good insight into the context provided but they are referred to here as company anyway. The translated question reads quote. There are many negative news about company. A in the market recently. How about the company's order situation and quote with translated answer reading quote the company strictly abides by the customer's confidentiality requirements. It is inconvenient to disclose. Please understand what i want to say is in the process of cooperating with customers. We deeply realized that all things done by company or correct including product positioning. Rnd manufacturing supplier management quality marketing etc are all very correct other cars. There is a gap of at least five years between companies at noon. We saw two hundred and forty percent increase in sales of company in europe and may rapid growth. The emergence and growth of new species will have problems of this kind which are also short lived. We can't just look at the appearance. We are very optimistic. And the current orders are normal and
TESTING1 Streaming is Your Gaming Gateway - DTNS 4051 - burst 02
"Objective or substance. Within thirty days the agency also banned exchange coins which are proprietary coins. Issued crypto exchanges. That can be treated and also pay fees irish justice minister heather humphreys which would give irish police the power to compel people to provide passwords when executing a search warrant with fines of up to thirty thousand euros and up to five years in jail for noncompliance. The bill would also require police to make a written record when doing a stop and search which would include location age gender and ethnicity information to better document trends of who the procedure was being used on beats announced. The wireless beats studio buds for one hundred fifty dollars offering active noise cancellation. Ip export water and sweat resistance and five hours of battery life. The earbuds will integrate with control center and so offer hands-free series support on ios but also support fast pair and google find might vice features on android preorders are open now shipping june twenty-fourth. You look really nice to bitcoin. Miners approved the tap root upgrade to the crypto currency in november. This is the first upgrade in four years. Which is meant to improve efficiency improve. Privacy make multi signature transactions infective unreadable and support Smart contracts on the lightning network payments platform. Bloomberg's mark gurman and debbie sources. Say that apple will release an updated apple watch this year. Twenty twenty one with a thinner display. Basil an ultra wideband radio and a faster processor. Apple will reportedly update both the standard and se. Model apple watches in two thousand twenty two as well as introduce a model for extreme sports athletes including adding a body temperature sensor to some models. All right those are the quick hits. Let's talk a little more about g mail and workspaces. Your g mail account may soon get a different look to google announced its workspace. Productivity suite is available to all google accounts. Now you don't get everything yet. It starts making google chat available in g mail in the place of hangouts chat which it is interoperable with but has a few different features. It's mostly a renaming so if you go into settings right now and say. I switched me from hangouts to google jet. You get a different look and you get a few more. Well maybe bell and whistle. These group chats are not the same however as rooms you may find that some of your older chats were set up as rooms in hangouts and rooms will reappear if you switch to this showing up separately but don't get too used to that because rooms will soon be called spaces this. With a number of new features like better message threading emoji reactions user roles moderation tools and basically things that make it more like slack than like texting. So that'll be the difference between chat which is more messaging interface even though you can do groups and spaces which is right now called still called rooms which will be
Todd Weaver on Purism and the Crypto Principle
"Yes so just get right into it. I wanted to start a bit broad and maybe a little bit of the background not back to they one. But i actually used to here so we're all pure ism users here. Excellent on the show today. A lot about open source hardware coming from you guys do software and there's open source software obviously let most. Bitcoin is worth their salt. Know about the idea of open source software free and open source software but this idea about open source hardware. I feel like. I used to hear that more around the pure brand. I'm not sure if that term is still used. Maybe haven't been paying attention but before we sort of go deep into pure ism and what's going on as of late and and sort of what you're trying to do in general you just give us a quick background for those who don't know what is the idea of open source hardware is sort of a nebulous thing and then maybe how does pure isn't fit into that. Yeah i'm going to say it is kind of a nebulous thing Because there's really There isn't o. S. h. w. open source hardware specification But the term in general I'm gonna say is diminished depending on what you're talking about So there's things where schematics can be released and is considered open source hardware Or is it the after release the actual gerber files to may do. The manufacturing of the pcb pba is then considered open source hardware or. Is it where you're able to three d print a case. So there's a lot of components go into hardware and so what we try to do is define a very specifically the things that we are releasing and the things that we are not releasing or are unable to release. So when you're looking and it depends on the product itself so the most Let's say liberated hardware that we have is the lebron five phone. The least liberated harbor we have is servers. And so then we have everything in between
CPI Rises 4.2% Over the Last Year
"Welcome to the investors podcast. I'm your host trae lockerbie and today. I'm super excited to welcome back to the show. Fan favourite merrin tusa and always a pleasure. Thanks for coming on the show. That's my pleasure. So one of the reasons. We love having on merrin is that there's always just a wealth of knowledge that you bring to the table and it's always such a wide ranging discussion and today's no different. There's a lot to cover. And i want to go ahead and dig right in one of the most interesting headlines. I think we've seen recently is the. Us bureau of labor statistics releasing some new cpi numbers and the is risen. Four point two percent over the last year so given your knowledge and the gold and silver mark is. I just wanted to take the opportunity to ask you about what your stance on those metals looks like right now and if you've been expecting maybe better performance out of them lately as my subscribers know when you have such a lockdown in so much pent up demand you look what's going on with copper lumbers so many sectors or hitting it and people what about gold and silver. I remind everyone that eighteen hundred dollar gold is a phenomenal price. Or me and the company that i'm heavily invested in and i get it. People want the to handle as four handle. Cpi came to thousands better than eighteen. Hundred i agree but when you're all in sustaining cost is eight nine hundred and you know you have a one hundred percent margins. That's a pretty good business to be in so yes. The investors want. Bitcoin like returns. They want that action but mining is the remember. Gold is the oldest currency in the world so moves a lot slower and it's a much more global. There's a hundred eighty six minds with over for example with over two million ounces. It's everywhere and it's a big business osama silver silver nod as much of a currency metal. Like gold is because over half is used for australia. Uses has got one foot in the industrial sector and one foot in the precious metal. So you would expect silver to be doing better than it is
Bitcoin Beach, El Salvador and the Bitcoin Standard
"I am so excited to bring you a conversation with bitcoin beaches. Michael peterson if you were on nick. Carter's twitter space on tuesday night. Where el salvador's president nyambura. Kelly popped into answer questions for about an hour. You heard mike peterson talk. You see. Bitcoin is a project el salvador. That has been running for a couple of years now and they set out to show that one. Bitcoin could be used day-to-day as well as it could be used as a long term investing saving technology and to that bitcoin wasn't just for rich people in fact the poorest of the poor could often find even more empowerment in it than the rich that normally associated with their website states. We believe that if a local economy is created with the support of bitcoin new opportunities will open up for the community members. The project bitcoin beaches creating a sustainable bitcoin economic ecosystem on the coast of el salvador. Where the majority of people do not have access to bank accounts in the local businesses could never qualify for merchant accounts needed to accept credit cards from the early days. Bitcoin promised to allow us to bank. The un banked and return power from governments and financial institutions to the individual however until recent. This promises remained elusive. Bitcoin beaches a movement to make sure that the true potential of bitcoin is realized and those who have been excluded from the banking system are the primary beneficiaries on that. Call on nick. Carter's twitter spaces president. Kelly went out of his way to say that it was the inspiration of bitcoin beach showing that bitcoin wasn't just for rich people that it could improve the outcomes of individuals and a community as a whole that inspired them to start looking into bitcoin in the first
Metals That Work Like Magic
"A few weeks ago. The wall street journal featured an article about a man who was mining bitcoin from a computer in his house. The computer was working so hard. It was heating up the entire room. It coin put your computer through a lot of calculations and many of us are spending most of our time at home these days so the man found a way to use all that energy coming off of his computer he siphon date to heat a greenhouse and grow basil and cherry tomato. That's how much energy has computer was wasting and it's not just the bitcoin guy. All of the devices were using. Give off excess energy. How many times have you noticed your laptop. Scorching your thighs collectively. We lose billions of dollars every year because of this so-called waste heat. It got me thinking about futuristic alternatives. That could work to reduce that waste. So i reached out to an expert. I'm marvin cohen. I'm university professor of physics at the university of california at berkeley. Dr cohen explained that this waste heat from all of our devices happens because of friction too much friction from electrons the electrons. Go down the wire and they bump into things sort of in the wire is heated so they knocked around and that gives you resistance and the wire gets hot. Cohen says that friction is called electrical resistance. And it's just what happens when you conduct electricity. it's normal. It means that some of the energy gets lost but there is a way to get around it to manipulate the electrons. So the wires don't get hot and energy doesn't get lost so if you could bring them together and keep them together you'll have a superconductor
El Salvador Will Use Volcanic Energy to Mine Bitcoin
"El salvador has moved more quickly than anyone thought possible to make. Bitcoin legal tender with more when president naib kelly jumped on nick. Carter's twitter space on tuesday. Someone asked him about bitcoin mining. I think it was actually alex. Gradstein that prompted president kelly to speculate about the potential for bitcoin mining powered by geothermal energy from volcanoes while by the next morning he had initiated a project around exactly that and the ceo of the largest north american minor was up in his comments asking about getting involved. The net of all of this. Was that the possibility of a new mainstream. Narrative of bitcoins capacity for economic empowerment has captured. The imagination of bitcoin is the world over but of course this wouldn't be bitcoin without some controversy and strive to go with it last night. I jokingly said that today's episode is going to have to be called the empire strikes back and this wasn't in reference specifically to the global powers that be getting up el salvador's craw about bitcoin although there is a meeting with the imf today that could provide some insight into their initial reaction to the move in fact as i was prepping. The show preemptive comments from the m. f. came out jerry rice and imf spokesperson said quote adoption of. Bitcoin is legal. Tender raises a number of macroeconomic financial and legal issues. That require careful analysis. Which i mean isn't surprising. Of course they were going to say this. And i'm not overly concerned yet. Instead the empire strikes back comment was about a string of established powers. Ratcheting up their rhetorical and real attacks on bitcoin and crypto at large. Let's head first to china as this is a story that's already started and that has seen some significant developments this week. There was action by two provinces against mining in xinjiang. The local government issued a notice to shutdown crypto mining activities. The shutdown was immediate. Taking place yesterday. On june ninth and the specific focus was on the economic technology development park. This is a fifteen thousand five hundred square kilometer area that houses a number of different coal powered industries
El Salvador Adopts Bitcoin as Legal Tender After Passing Law
"El salvador has moved more quickly than anyone thought possible to make. Bitcoin legal tender with more when president naib kelly jumped on nick. Carter's twitter space on tuesday. Someone asked him about bitcoin mining. I think it was actually alex. Gradstein that prompted president kelly to speculate about the potential for bitcoin mining powered by geothermal energy from volcanoes while by the next morning he had initiated a project around exactly that and the ceo of the largest north american minor was up in his comments asking about getting involved. The net of all of this. Was that the possibility of a new mainstream. Narrative of bitcoins capacity for economic empowerment has captured. The imagination of bitcoin is the world over
Bitcoin Mining With North America's Largest Miner
"Our guys bang bang. Got fred here. Thank you so much for doing this. Thank you great to be here absolute. Let's get started with marathon in kind of your background. So marathon is one of the largest. Bitcoin miners in north america. What did you do before you on the board and then became the see you so twenty. Five plus years running technology companies across a variety of sectors. Fintech was a big one. Matter of fact my first programming job was at a bank so grew up really understanding the friction. The financial markets was had the good fortune taking some companies public. Doing a lot of a and then switch to the dark side became a private equity managing partner and did leveraged buyouts tech companies and then started advising really large funds and tech companies. I had known the ceo. Marathon merrick former ceo now executive chairman for many years socially or kids grew up together and i joined the board in two thousand eighteen. Really that help him with kind of the transition to bitcoin. Mining and blockchain always been fascinated by blockchain. I think it's a great leveler. If you look at kind of how the internet developed and brought kind of the democratization of information i think people exposing data on the blockchain is going to change. How businesses operate imagine companies like salesforce. Who effectively hold your crm data hostage. If all that data around the block chain not only could use salesforce taxes and gained benefit from it. But you could use other applications. I think there's just a were so early in this blockchain development. Bitcoin cryptocurrencies. Just one part of it. I'm a big believer in the bitcoin. Blockchain foundation for financial institutions very secure fully decentralized network. You know you can say other things about ethier. Money has some great benefits. But it's still is less decentralized than the bitcoin blockchain and there's just so much you can do so. I was very excited at the opportunity to step into more of an operating a marathon. And i think now's the time where you'll see. The miners become more professional. Companies were real enterprises. If you just look at the build out plans most of us have you know. We'll be billion dollar revenue companies within the next year and a half to two years and those become big companies and they need to be run in a proper way with good
JBS Paid $11 Million to Ransomware Hackers
"Early last week. The world's biggest meat processing company j b s was hit with a ransomware attack. Now we know what the company paid the hackers eleven million dollars. According to a gps executive the wall street journal says the company paid in bitcoin and according to the f. b. i. russian-speaking. Gang is responsible for that cyber
El Salvador Made Bitcoin Legal
"What's going on guys. It is wednesday june ninth. And what you just heard open. The show was the sound of kareem. Lukhele the brother of the president of el salvador as well as his campaign manager narrating the passage of the bill by which el salvador became the first nation in the world to recognize bitcoin as legal tender. It was part of a larger hour-long discussion last night with the president himself. That happened holy spontaneously. A nick carter space on twitter. Setup to casualty chat while he cooked himself pork chops for dinner. This conversation happened late at night. And i only caught it by the grace of a fast flickering power outage in our house which caused every appliance to beep in. Wake me up me being a complete degenerate. I did a quick pass on twitter before heading back to sleep in. The first tweet. I saw was from one minute earlier from nick saying president of el salvador in my twitter spaces right now before we get into what he said. Let's go back to what happened over the previous twenty four hours. Beginning of the day was a cascade of politicians from central and south america. Giving themselves laser is we covered that on yesterday's show by the evening. Though the big news was the full text of el salvador's bitcoin legal tender bill had dropped and at the risk of this running a little long. I'm actually going to read the full english translation. It's actually pretty short. And i think is important to give you the full context for our discussion. Considering that in accordance with article one or two of the constitution of the republic the state is under the obligation to promote and protect private enterprise generating the necessary conditions to increase national wealth for the benefit of the greatest number of inhabitants that under legislative degree number two a one published in official gazette number two forty one volume three forty nine dated december. Twenty second two thousand united states dollar was adopted as legal tender said. Approximately seventy percent of the population does not have access to traditional financial services that it is the obligation of the state to facilitate the financial inclusion of its citizens in order to better guarantee their rights that in order to promote the economic growth of the nation it is necessary to authorize the circulation of a digital currency whose value answers exclusively to free-market criteria in order to increase national wealth for the benefit of the greatest number of inhabitants. That according to the previous considerations it is essential to issue the basic rules that will regulate the legal course of bitcoin
The First Country to Adopt Bitcoin as Legal Tender
"The central american nation of el salvador has become the first country in the world to adopt bitcoin as legal tender after lawmakers voted by a supermajority in favor of a new bitcoin. Law quoting nbc. The purpose of this law is to regulate bitcoin as unrestricted legal tender with liberating power unlimited in any transaction and to any title that public or private natural or legal persons require carrying out the law reads prices can now be shown in bitcoin. Tax contributions can be paid with the digital currency and exchanges in. Bitcoin will not be subject to capital gains tax the exchange rate with the. Us dollar quote. We'll be freely established by the market. According to the proposed law el salvador's current official currency is the us dollar. The law also says that the state will quote promote the necessary training and mechanisms so that the population can access. Bitcoin transactions and quote approximately seventy percent of el salvador does not have access to traditional financial services according to the bitcoin law the cryptocurrency is seen as a way to increase financial inclusion president. Naib kelly submitted the law to congress after he announced last week that el salvador struck a partnership with digital wallet companies streak to build the country's modern financial infrastructure using bitcoin technology and quote.
"bitcoin" Discussed on What Bitcoin Did
"Like Primitive that the lightning network uses for the hdlc's and so like all of these more complicated kind of programs you can make there are also rules on like how big those can be like size limits. On how many computations Will run to validate something before. It just goes. This is requiring me to compute too much so like aside from like all the obvious things don't spend Without a valid signature Like you kind of have a lot more technical things like that that kind of restrict things and those types of things come back to like everybody has to be able to afford to validate this so like it's not just the block size. That's kind of doing that. You also have limitations on how big individual transaction can be or the script like in an actual ut akzo and things like a and that's a good i level view of things but let's let's talk about how somebody may try and cheat the system by operating by creighton invalid block but also running a node which follows that blocks and we really talking about chain splits. Here what happens. There could be a scenario where a minor creates an invalid block whereby they create a bunch of bitcoin for themselves and they could be validated by a node but if all other nodes rejected that block on exists on that note and they can keep creating new blocks and keep adding it to that node. Essentially they've created a new coin that point because the chain of split and they will make no money unless people want to buy that coin exactly so they can try it on their own but the only way to create a new coin which might have value is actually to have some kind of coordinated split like be cash esp cash keeps losing value relevant bitcoin. But at that point there was Let's say some former social consensus where people wanted a different coin. Which did something different. So they created a new set of rules it created new nodes a bunch of people run. Those knows a bunch of miners mined them. And that is interesting. Just split the networking to and created this new coin. And at that point some of the exchanges were willing to allow that to trade and then the market through trading decided the value of that coin which is continually dropping compared to bitcoin. But you can only create you can only create an an while saying invalid blog. You can only create a block with different rules. Have another knows which.
"bitcoin" Discussed on Bitcoin Radio
"Bitcoin even got ten times where it is today. Seems really really unlikely. Bitcoin cash very realistically go a thousand times where it is today. Bitcoin is so from an investor standpoint. Bitcoin cash is much much much more attractive as well And so we're talking about price that does seem to be the way that we kinda judge. The success or failure cryptocurrencies. Because it's sort of speculative market today. When did you feel validated. No every time we mentioned how many how many times the bitcoin community split do you feel validated. Every time you check your code market cap. Whatever active and you see the h. price higher than and bitcoin. Abc because that essentially means of the market says says we think that bitcoin cash is more valuable. Une has made a crack move more. That'd be as or or or abc. I'm not really worried about any of that at all. The bitcoin market cap is much higher than bitcoin cash. But i think people are just mistaken. They're not fully understanding that. They're so i've talked to the number of people out there people that have hundreds of millions or maybe a billion dollars. More worth of crypto off there and this isn't their fault because usually people that have that much in the way of assets her a bit older generation name name spaces in the in the space. They didn't understand the difference between a wallet. In which user has their private keys themselves and their an account where somebody else's holding the private keys for them and And these are people have probably more than a billion dollars worth of crypto currency at the very least hundreds of millions of dollars and so i spoke with him and explained the difference them and then they wound up by more bitcoin cash about millions more dollars worth of bitcoin cash after i explained the difference to them And it's their story to tell but they're out there and they're starting to wake up and i think more and more people will start to figure it out. If everyone's just using a custodial account or what did we even need cryptocurrency for that point You might as well just go back to using the dollars in your bank account your pay pal account or or whatever else out there whereas You need to be able to transact on chain it to be you. Know revolutionary for the world to bring more economic freedom of the world and bring the benefits of cryptocurrencies to the world. So people are going to figure that out and at some point everyone loves to chase the rising star when people see bitcoin. Cash rising They're going to pile in and And they'll piggybacking. That'll bring more and more and more and then everybody will be a rush for the exit there. At some point once people figure out that the bitcoin emperor has no clothes. It's just a big name only Bitcoin cash money for the world has sadly decided not to be and we're talking about new monies for the world economic freedom right now a lot of even if you have cash and you're holding cash in your hand in this this financial system facial infrastructure You know if. I want to get a loan. I have to go to a bank. If i want to bart this kind of these centralized even if you're utilizing. Let's say even somehow you have a currency that isn't a controlled by the government still the system the pipeline the infrastructure that allows money to move is still centralized in recent since this past. Summer defy has really risen on using the building blocks of bitcoin. Bitcoin cash theorem and these new technologies to start offering more advanced products or financial products and tools that people could actually used.
"bitcoin" Discussed on Bitcoin Radio
"Bitcoin as v back in the day and bitcoin cash for from bitcoin core back in the day. So do you feel that all the splintering while everyone can choose their own thing but do you think this is kind of like a brain drain. Where if we keep on splintering the bitcoin whatever whatever all the different bitcoin communities into smaller and smaller communities were actually diluting the talent poop of pool that is necessary to develop network. Yeah absolutely one of the things that make money useful as the size of its network effect and so that's one of the things i think why bitcoins does the top spot. Today is the size of its network effect but the real winner. And all this i think is going to be a theory. I'm they've only had one split like that. Where theorem classics but off. It was a very small percentage there and if you go and look at the theory and ecosystem the amount of developer brainpower and talent and things going on that ecosystem are really incredible. And i'm really bush. And i said it years ago and i'll say it again now. I think theorems going to be the first one to surplant bitcoin in terms of market cap. And i think bitcoin cash will do in the future as well just because the user experiences so much better than star there's a fly buzzing but you can see it happening out there. It's really really a amazing thing. When the ecosystems are together at arc we have been growing and building bring more users and when you have infighting in fighting and splintering and and that sort of thing it it's bad and so it was a disaster for bitcoin cash when it split into and bse and even his most recent wasn't a good thing but that's part of the the thing with permission list cryptocurrencies. There is that you have to have the ability to split. You have to have the freedom to do that and when you disagree. You can forecast offender in. It's important that people be able to do that. And and people can will in the future as well and so going back to bitcoin cash. You know the the idea behind. It is electronic peer to peer cash network. A where you can actually spend. You could go to store and you could convert you could actually on the spot by you. Don't have to wait ten minutes for approval but one of the things that people look for when it comes to a currency that they could buy in one of the knocks against fiat. Currency is idea. The government control the supply they could print endlessly. Fiat currencies could could instantly devalue the currency And so you know a dollar. That one day buys you milk. The next week you need a million dollars to buy that same no but when we're talking about bitcoin cash in really. This is something that affects all cryptocurrencies. Not bitcoin only bitcoin cash but all cryptocurrencies right now. Due to the speculative nature of the market value fluctuates. Quite quite greatly. Until you think that that really affects its ability to be used as a as a means of per transaction at means of purchase. If i'm a merchant i want stability. I want to know that if i'm getting paid fifteen. Bitcoin cash today. That's still worth something or still worth relatively the same amount as it will be a week. So how big of an issue is the fact that there isn't really a cryptocurrency besides stable coins that really keeps up a relatively stable value. And what is the solution to that. Yeah i stable. Coins are part of the solution. That's why we see tether. Is the number one traded cryptocurrency in the world at this point but then there's other really cool tools to build.
"bitcoin" Discussed on Bitcoin Radio
"This doesn't work right so it sort of goes back to like the very obvious shama kind of argument by one percent you know. Put one percent of your money in this thing just in case you'll never notice if it goes to zero but you'll definitely notice if it a hundred x everything goes down on the other side you know so i. I think they're just very clear arguments for do you understand. Inflation does is deflationary. We know exactly how many there will be. We know that there is demand we know that. The supplies reducing look at these billionaires. I hate to keep looking at them because you know short banks long long. Bitcoin short the bankers and whatever but there are very smart people. Now who are exposed to this. You can talk to them about central bank digital currencies. They listen everything is going digital. You're gonna lose your privacy when that happens at least expose yourself to some bitcoin. There's a million arguments for it. But i don't think that we're going to get that like ponzi scheme. You want me to buy this for yourself. I think that people understand listen. You say nobody's going to bail you out. You need to protect.
"bitcoin" Discussed on Bitcoin Radio
"The idea of youth made a lot of sense to me. I think the execution of eve has not yet. I don't think that it is scaled. I there's a lot of criticisms. I have of like development solidity The scale ability of it. And i am like i think i may look like bitcoin maximal and i am like a huge bitcoin proponent but it is it is typically from different reasons than i think a lot of people i. I am a big believer that you know sound money is very important for the world puts pressure on governments to have better monetary policy You know i do. I believe one hundred percent in australia. Ushering economics. I like you know like i don't I think it's good for the world but probably different way than the traditional sense That that many people do Eat kind of is very very different from bitcoin and my team. We've played around with solidity we thought about offering eath Comes down to demand issue and also a a value issue When i know that that each has brought value to the world in a truly scalable way that it like fundamentally has changed the world is not going anywhere and that i don't risk the reputation of lawley and myself to offer to our users. Then i would consider it like right now. I'm just not seeing that be true yet. I think like maybe to prove that maybe a chain might prove that. But i just haven't seen that yet so south that's going on defy fascinating absolute glimpse of the future. Not there yet. That i could say with one hundred percents certainty that i would go give east or users and in five years. They wouldn't be pissed because we're only as good as the you know what we give to our users like. If bitcoin has an access problem it doesn't really have a technology problem. Bitcoin has like proven is not going anywhere. It proven that can't be hacked. It's proven like no one has been fifty one percent attack it it so many people have thought it would fail and it hasn't like eat hasn't had that really like that moment that it's proven it's to society in the same way that bitcoin has so i'm always looking. I'm always open minded. I mean a ton of friends in east bays that are constantly being like. Hey have you seen this. Hey consider this. Hey i think it's broke Like they know my thesis. I'm very open about it. I'm very open minded. And so that's that's where we're at today The the projects that. I'm most excited about in this in in the ethereal in defy space are stable coins I think going back to kind of like you know how i think about technology. In general in technology adoption. Is you have to sort of give something to somebody that they're already used to so in our cases rewards it's like cash back. They're used to it. They understand it Stable coins look very similar to your currency it's a digital dollar essentially so it's you know someone can actually. They don't have to do math in their head. They're just getting you know digital dollar. And i think in a lot of cases. A stable coin doesn't even have to be branded a staple clinic and just be a better medium exchange in the background and actually power these networks that were otherwise on fiat and they can do it more efficiently because they could move money anywhere There's risks.
"bitcoin" Discussed on Bitcoin Radio
"And you're just giving people a more efficient meet inva- change you have to you have to assume that these merchants are going to want to incentivize these individuals individuals to go pay with a better currency. It's going to save them money so they have all that you know percents to play with that we capture that value By giving the consumer part of that so pay the consumer extra one percent pay crypto. Give them the incentive to pay with a better currency so that you end up saving anywhere from one and a half to ten percent on every transaction. that's how we we go into this inevitable. Future of crypto being the the standard. Your your viewpoint on this. Is i think very different than a lot of people in his face. A lot of people focus on just the adoption. But don't really go go far. As to think that even traditionally there is a up front costs for firing consumers in any startup in different things like that. So maybe crypto. We do have to spend some of that money to incentivize people to paint group. Why do you think there hasn't been a competitor to lollies why someone made. Let's say theory offer lawyer even any one of these other tokens and also you know. We haven't talked about defy anything else like that. Have you have you seen. Let's say on crypto twitter even from your massive community. Has there been any interest in in as well like more more transparent easier ways to build on on different layers because if you have the same tag and you already have a massive community of people with wallets even me. I'm trying to think ahead of what you could possibly do with that. Because i think that getting into a lot of these different applications in crypto some of them are lehrer once on them or are there too and the deeper you go. It's just it's just too hard to we need to bring that more down to their interests like that. Or i'm sure people that may be asked you we play around with defy just on a personal side Because it's it's interesting. It's it is probably the inevitable future of a finance. I get really excited by anything. That's like democratizing Commerce democratizing access and a lot of these defy solutions all be them albeit fraud like a lot of them are very very risky. Half of them are fraudulent But there are like. I think i have a good idea. What the future looks like and i would say a lot of them. Look very close to what the future looks like. Now the thing. I always go back to where i sort of differ. I think from a lot of people is I feel like bitcoin has already proven its value to society. Bitcoin is incredible technology. Like one of the most incredible technology that i've ever see my entire life. I mean the feeling. I got when i when i learned about it was the similar to just like getting the internet for the first time. It just made total sense to me like why this is the inevitable future east..
"bitcoin" Discussed on Bitcoin Radio
"You switch. Won't from our takes a while the scene you just let down is that i go full and i am going to stop setting up accounts on these platforms. I'm going to try my best to get engagement out. But just from. What i've seen right now is going to take a while to adopt them and by ankle for them absolutely. Yeah i yeah. Many many of them have sort of been in the work than i think even read it a couple days ago. Not so that yeah. He saw that right. That's that's pretty interesting. Love it so so. I'm sure while you're producing all this content and engaging with interesting people so how do you how do you exactly get new ideas for inspiration and like what do you think is you know. Maybe half the name with via's in different things in the world right now. With in retrospect to You know some of the other events that have taken place like for example. Yeah we just had the bitcoin having and you know the government is printing different money like do seek do you up specifically kind of see those changes in like sentiment or or perception me. I can say like. I've had more friends. Of course you know messaging me again wanting to learn more about bitcoin somewhat most of it is still like investment. But i would say like slowly. They are warning. They're wanting to know more about the technology before they invest like this time around like kind of face to is what i like to call it. I guess we had our phase one for sure. Now i agree. I mean and this is why i go back to important for people to understand. Bitcoin exist needs to stand the financial system and the economy at the fastest guards things and now more than ever. I think fundamentally. Bitcoin is stronger than ever before now. We saw bitcoin emerge out of the fallout lost recession. In two thousand night. Two thousand nine and He's kind of why Whoever he she all created this system now ten eleven years later. We're in we're in a in a similar situation again. While even worse. I think when now the government printing unlimited amounts of money and again send some of these changing because of with the economy. People like okay now. Leaving people like a pool to john's a traditional hedge fund manager being effort philanthropists. Someone that you would never expect to be talking about. Bitcoin is citing. You know. I've just one hundred million dollars bitcoin to hedge against inflation so fundamentally more than ever bitcoin. Strong sentiment is definitely changing for a few years. Now of people got scared. Away from crips are because of the the bam we just went through and you saw the whole he just for the send some change completely from two thousand and seventeen when everyone in the mumbles. Buy bitcoin to now loss of years where everyone's a bit like. I'm not too sure. The dot com bubble thing to now lead traditionally been amounts of money..
"bitcoin" Discussed on The Bitcoin Podcast
"I don't fear gravity. So it would make sense. Oh, I got. I got one for you. Did you ever do you ever get worried when you cupping bitcoin address the accident, we hit a key? And you don't realize you send it to the wrong address. I have news for you. Because bitcoin addresses checks. Yeah. So if you get one character wrong, it won't be a successful transaction ever. It won't go to address the bitcoin nodes. We'll check like the last. I think I don't know does as of four three three or four bites of the code is actually the check some of the public. And so it takes that off checks to make sure that the key is correct. Based on the previous part of the thing. And if it's not it'll project the transaction. So it'll just sit in the pool for a while. And then get rejected at some point different. Now, if you not do that. Why don't theory of address do that check? They there's a check some associated with the capitalization of the letters. So there is a form of check summing. But it doesn't do it the same way if not as robust why they did it. I'm not sure I want to interview who's lost so much theory because they got one character wrong. You'll never get them because they dove off. Didn't nose dive off of them bridge. Somebody stupid ways to lose money in the space. Crazy. Yeah. Yeah. It's parts of the darker. That I have is is in my my antivirus. So what a computer doesn't update in this accident copied the wrong address? Well, I haven't couple the wrong address, my computer's been compromised, and I pay in address in and it's wrong. I think that's international because I'm relatively in a safe when it comes to antivirus and checking bits and pieces, but I'm always worried that some fucking thing is going to steal my bitcoin. How many times you check back and forth, and you're like sending a transaction one that you actually put into action the window dot copied. I'll yeah, I'll I'll often I'll copy I'll copy it into text copied into what I'll copy it onto a page. And then usually I'll be like, yeah. Okay. I haven't fucked it up. I do the same thing. I still like I still have kinda worried that I've I've somehow stood up the copy and paste method, and that's so much to lose the money. But more like I'm not going to get done when I was trying to get done and have to spend the rest of their life. An inconvenience more money using using crypto the the more time slows down when you're sending over here. Yeah. It's so fast. Once you actually get the transaction done. But it takes a while to get that transaction. Correct. The one point when I when I used to trade, many moons ago and some of those transactions were little bit larger than like, you know, you're sending back and forth. Playstation four's. Right. It's not they're not tiny transactions. But every time you do it is just like an and people talk to you doing it mobile phone because you know, of these extreme and people are trying to talk to you. And you just like what would you like d-? What are you even listening to us? And I'm like, dude, I am in my own book and world right now just need to make sure I didn't send three PlayStation four somewhere and not back. All right. So. I guess some news for you d the sixty million light coin has just been mind, and we contributed to that..
"bitcoin" Discussed on Let's Talk Bitcoin!
"That you weren't able to before you'll be able to trade your other fork bitcoin east i your bitcoin west bitcoin north versus your bitcoin south whatever so it's again it's very similar to what we've seen with bitcoin cash for the other airdrops if when cast was isolated from bitcoin for while and you couldn't have any kind of traction between the more exchange everybody would just sit on their holdings and then when when they could access the other chain again they start trading them avoiding catastrophic failure states for bitcoin emergencies are important because it's all about the ability in the here now from the event that occurred if there was a blackout if it was sort of issue hugh and i had a large amount of my all of my money with like would i then have wait several days or a couple of weeks for the you know hash rate to fix or the energy to come back online before i could even send a single transaction to get my money out like i guess is that like like you should keep money in a lightning channels so that if block times go up past you know an hour to three days you could still have quitted with your bitcoin is that like the disaster preparedness that people should have i mean i think it's a lot simpler than that you could always use physical tokens to exchange bitcoin you can for example store some of your equipment on a paypal wallet or an open time or other physical device and you can exchange that has currency so i can give you an open time that you can check the balance all for paparella you can check the balance and it has the face value of whatever's on it so that leads me kind of nicely into our next scenario jonathan the reason why we're talking primarily here about things that are sort of more extreme or kind of extreme examples of these scenarios is because i think that it's pretty clear that if there's a short term or of highly localised problem than it really doesn't change how bitcoin gets used for the vast majority of the users and even for the users who are affected really their best move is just to sit there and wait for it to be over because it's going to be over so really the the conversation that we're having today is partly about that but i think it's more about okay so let's assume that things go absolutely crazy in some factor what changes about bitcoin how does it get us differently and so without in mind let's talk about of space aliens were to invade this is sort of a type of control scenario let's assume that they invade they take over they don't shut down technology they monitor all communications and they monitor everything that happens anywhere in the world so bitcoin still exists but now it's become incredibly dangerous to actually make on chain transactions in any sort of way that can be tied back to you and as you brought up the idea of sort of physical bitcoins talked about open diomede talked about paper waltz there's another one which is the old kosice coin model which was physical bitcoins using tamper evident seals that have face value so that you don't need to check on the blockchain you can't check on the blockchain but the tamper evident ness of it and assuming that there's trust in the.
"bitcoin" Discussed on Let's Talk Bitcoin!
"On their schedule c like self employment income but then for our purposes calculating capital gains and losses it says if they buy a bitcoin that day so if they got paid a bitcoin every friday then it's worth a thousand dollars they recognize that thousand dollars in income on their self employment and then they'll have expenses offset against that you know we have a reporter who has a situation like this where she's always painted in bitcoin and then but then when she eventually cells that bitcoin we use the cost basis that's determined the day she received it when she year radically bought it because she would have been paid us dollars and said she was paid bitcoin source and so our software does all of that but that's more of the more of a complicated tax situation i was glad to hear you said when transfer and his vague you guys will actually ask if it was a spend or transfer and i i guess is it the same way with money coming into a wallet if you would ask was that income or transfer yeah exactly okay well that's that sounds perfect so i've got a question that i assume anyone kind of who's been involved with the let's talk bitcoin network a question i was soon many would have i don't know if people think about taxes like i do i feel pretty unique i guess maybe i'll even ask you there's always that i don't know if it's a rumor truth at eight hundred people filed crypto taxes between twenty thirteen in two thousand fifteen are you familiar with that oh yeah do you believe that to be true i mean to be honest from talking to accountants and who have been filing users taxes since then i've heard of enough people who say oh for sure it's been much higher than that i alone did three hundred or whatever that i feel like it's very unlikely that it's true.
"bitcoin" Discussed on Let's Talk Bitcoin!
"All but most recently may was probably back in two thousand in late two thousand thirteen a body might told me about bitcoin but i did nothing about it i just i will you know he told me by it and he said he was going to start mining it he minded a little bit he's got a good or story just like a cup we will do but i stayed away from but then i got involved in a business where i would be an investor conferences and there was a guy on a panel who was a bitcoin guy and he had a bitcoin find any he said anybody who wants any bitcoin come up and see me after the panel on i'll give you five dollars in bitcoin like all right this was late two thousand fifteen i took him up on the five box and made late two thousand seventeen or something he was like two or fifty bucks five bucks to to i mean it was ridiculous you know it's crazy but back in march of two thousand sixteen i decided to take a significant plunge man i went i went really pretty significantly in the bitcoin with some money that had out of retirement owners so what's your wife think of their the time she was good until it started going up dramatically in every time i will tell it would go up i would saying the song would go who's a much just a screw whether actually got tired of that scenario venture really i did i have to get rid of solvit because there's there's too much exposure but bit i mean bitcoin's been great to me and others it is changed my life honestly so i wanted to do something to finish a story the business i was in the founder abruptly shut the business down as a whole mess so i'm out of a job in september of two thousand and seventeen now my ward i do now.
"bitcoin" Discussed on Epicenter Bitcoin
"Not valid in they just don't exist for mere standpoint so it's it's just reusing the bitcoin algorithm inside of a set of smart contracts he can he say not i don't understand how that is using bitcoin on when uh so a i made were were cut of getting it a basic black chain here uh is a a block chain is a container for a set of transactions and the transactions are shared across many nodes eventually they're collected into a block and the block is then shared across those nodes and each of the transactions and blocks are validated according to a shared set of consensus rules and if any of those transactions or blocks doled validate according to those consensus rules than uh they just don't exist this they're rejected there they're not validated that's how bitcoin prevents double spends is that uh double spends aren't validated they are valid according to the coin consensus rolls so similarly a double spend of a metronome money supply a double port uh is just rejected in the same way that a bitcoin rejects the double spend and transactions in blocks are shared similarly to uh you know between contract sets by users who want to import and export their metronome so you have a block chain inside a block chain with metronome a k says hayes may be dim way to think about is which is kind of hard to wrap beheaded around dads almost issue came bitcoin ivf tiffin knows he communique produce blocks said metronome at.
"bitcoin" Discussed on Let's Talk Bitcoin!
"While in i think you're right on the surface uh about the institutional capital targeting big one because it has futures it may have in etf coming up in other things but i mean those things are in a sense predicated on the usefulness of bitcoin and if the usefulness goes away those things who go way too i mean neto the capital could evaporate if bitcoin can't prove itself to be while useful in so i mean i'm just wondering kind of getting back to the gold thing you know ironically i think you could make a at least an analogy that site chains herb indicate bitcoin is gold because much as in real life gold uh you know gold was the money but you had circulating currency on top of it that substituted for that's almost sort of like side chains on a on bitcoin but layer crew abstraction that was required in order to make all all work at money and when i look at bitcoin court thursday layer to obstruction let's required in order to make bitcoin core work as money so i i think the you know if you're looking produced took gold at literally how that switching will and i agree with that to a large extent accept will horse won it has happened yet in to um you know it would make it a digital gold with that layer to abstraction but at the same time uh until again until it happens how how is bitcoin like gold i mean it it it is like it appears like gold on the surface but i think it's inverted uh in the sense of it will go goal did circulated the currency to some extent than it got these little the second layer abstraction of currency money substitutes and didn't circulate so much um and if it would just kind of sit there and occasionally move around like you said uh there can be high transaction costs for movie yet but you don't gold became what it was because it had used value whereas bitcoin declare that you.
"bitcoin" Discussed on Let's Talk Bitcoin!
"Knowing that makes a lot of sense i was reading the the notes you sent us about that in i think there is a really strong parallel between the two in in knots of thing it's b inapt analogy kind cuts both ways in the sense of there is a sort of religious fervor a the faith the people have about their position that smacks of a a little bit of a rationality is far as not being openminded to other positions but at the same time i think it's healthy just like uh in in science you you in a sense want the nominations as well i mean obviously in science up you strive towards a singular truth but you do that through an open sort of freemarket process where people have different views in test those views in so i i think that also applies with bitcoin so we'll we'll end so what do you think than like what are some of the implications than of this sort of a nomination will ism uh within bitcoin well i i i have my own i have my own sort of a belief but i i like she's lum i like to re rather than discuss my conclusion uh when there is a conversation that stalling out and i think it's a loss of he that's it's basis i like to at least provide a philosophical framework for understanding the characteristics of the argument that someone could at least more intelligently come to the conclusion uh where they think the right answer is rather than tell them my conclusion uh i i'd like to see like what's what's the a more accurate rainbow understanding something and then have you come to the conclusion that you think is correct rather than just tell you the conclusion that i come to the thing about about you know this conversation is it if there was an absolute correct answer then that we would there wouldn't be this debate about it what what makes it near philosophical it comes down to the preferences you have as it expresses salt to the project or to to to the expression of bitcoin so.
"bitcoin" Discussed on Let's Talk Bitcoin!
"Intal nieces and they evolve different adaptations right like so some birds develop along beacon some develop a smaller bodysized to get to like a flower that they can't breach or whatever so i just just like that with bitcoin we're going to see people having different reactions to uh the state of things but right now on can deny that there there is definitely a thing going on where it's hard to use bitcoin it's hard to do transactions because they're just so dang expensive while i guess a bitter question them props in the one i asked is what is bitcoin four right now like it's okay so this gets into the the topic of conversation that i think is gonna come a little later in the supper so but it seems like there is a time preference thing at work here and so for people who are looking for cheap transactions now they're looking to use the system now whereas for people who are kind of thinking about the big picture which is like the kind of change the world stuff they don't early necessarily care so much about making transactions now because it's sort of about the big picture and were not really there yet you know the takes time to get there so i mean entries on the last episode you mentioned that like a lot of times it's better for new users actually not to use bitcoin transactions because they would have kind of a negative reaction to it well it wait before you answer than entrance adam i just wanted to say something about time preference okay for people who don't know what that is it's the idea that some people prefer instant results i guess they wanna spend money when they have it it's burning home their pocket they want to spend it right now or they need to spend at right now and some people are the opposite of that were they can delay gratification either they can afford it because they've been saving and they're in a position to do so or they're just detter add thinking about the future verses media at present moment and some time that time preference idea carries some judgment within it like the by the by that i mean some.
"bitcoin" Discussed on Let's Talk Bitcoin!
"On today's episode let's start bitcoin i'm your wit stephanie murphy hello andrey's at novelist hey everyone and jonathan moyo in pa how how how happy holidays everybody well as a pretty good year so far let's see what 2018 brings and in this time of year with the price of bitcoin skyrocketing and more and more people coming in and looking at this thing the we've been interested in for bunch years now the question that's been coming up a lot is how you actually use bitcoin in this type of environment where there's so much demand for the block shane there's so much demand for making transactions and many people who are just kind of getting interested now are having their first experiences with bitcoin through centralized exchanges like coin base as a new user of bitcoin how should people be using bitcoin right now well that's an interesting question adam because why was noticing several merchants were deactivating their payment option for taking bitcoin as a payment legacy bitcoin i mean as a payment we like steam the gaming platform a couple of others and even dick pay which is the secondlargest or that one of the two largest payment processors for bitcoin announced that they were going to be listen payments and other cryptocurrencies besides legacy bitcoin like they're starting with bitcoin cash and they've already supporting it in their software copay which is a multi sick wallet so i thought that was very interesting i've seen people complaining about bitcoin fees for a very long time probably about the last year or so that was when i noticed it starting to affect me like when i was sending pickering transactions i was starting to notice the fees creeping up in it getting a little bit more obviously to be a problem but now i mean it's just getting worse and worse people are mad and they're taking that out by jumping ship to other cryptocurrencies besides legacy bitcoin some people are just saying all right well then i won't spend it all just hold it and other people are like what's going on i am so confused so i dunno i mean there's multiple strategies to exist in any kind of environment you know like we see different species evolved to take advantage of different environment.
"bitcoin" Discussed on Let's Talk Bitcoin!
"Anas acting as they can shop around they can have once they can work out they can buy gifts they have a whole array of options of awesome things to do and making spend days in portsmouth doing all kinds of local fund things tourists things with bitcoin only so that's really need and so besides brick and mortar establishments the are you also saying there are some other uh people who or as a priori is who also set bitcoin uh that don't have a shop per se or do you have any information on that while not counting any of those per se but there are a ton of people in the area who accept bitcoin used bitcoin or even have bitcoin startups or work for uh like the dash team and uh or are bitcoin engineers and there's a lot of bitcoin going on outside of just retail is he the dust he doesn't jole valenzuela live in portsmouth racine keen he lives in a in a suburb of portsmouth okay so he's nearby yeah i believe he comes down from time to time in and spends dash she likes a scalpel places the likes to spend dash yeah we interviewed him as a text bitcoin conference that he attended in extra give a talk at right i think you unfortunately i missed it but yeah he's a great guy and two credible he lives solely on dash in uh let me ask you will one i think it school that these establishments space what you're saying it's a mix is not just like all dino honors they bookstores or all up uh restaurants only that sounds like there's a mix of businesses that uh except crypto so that you could actually kind of get all your shopping done encrypt oh i think it's really neat but who got the shops we get about a little over minutes will break but who got the shops to accept grip during the first place you know.