Yeah. Great to have you. So I'm not sure
if you wanted to touch on this. Let's kick it off.
But yeah. A little bit of my background. So I've been in Bitcoin since 2011 12. How long? A long time. And it took a long time as well. So I think the highs and the lows
and the growth of the network and where it's going
and I throughout that time, I'm also the principle founder
of big digital assets so Jones net coins and he had $1,000,000,000 market
cap last year I'm going with that company on operations side
by and large shareholder and I've been during their time
where you would say to me write a book and talk about where we see
Bitcoin going, what it is. And I'm and try to answer some real questions
so we know why it has value. And so some of that's in the book here. If anybody wants a copy, please come
see me. I'm happy to give you one, but that gets
down to one of the one of the questions we'd like to start with before
we just jump into Bitcoin, the lightning network, all the stuff that we do
that's exciting and cutting edge is when I give talks and give lectures,
you have to ask and you have to answer one
very basic question What is Bitcoin like? What is it really? And when I ask the question like, Oh,
it's payment, it's money into value story.
Well, that's what it's being used for. That's not what it is. What it is, is a trust protocol
and an extension of the internet, which is one of the reasons it has value. And it's going to fundamentally change
how the Internet's going to work. Money and value transferring simply it's
first use case like email was the first use
case of the internet back in the nineties.
And it's going to be so much more than
we can imagine over the next ten years. We're right in that sweet spot
coming in to that iPhone moment, and the Lightning network
is going to lead the charge. And so this gets back down to one of the questions
where why is Bitcoin trading 20,000? Why's around 30 about myself? Why does it have value? And you have to
look at the value of a protocol. What is the value of TCP IP? Disagree.
IP is the protocol.
The power of the internet and the internet
is made up of seven technologies layers. They call it the oversight technology
stock stands for a big, long name that represents
the literal plumbing of the Internet. Bitcoin comes in there
as the eighth layer, the trust layer, the trust protocol that we tried to do
in the nineties and we failed repeatedly.
The magic of Bitcoin
is it solve our computer problem. And so our issue as people, it's hard
for us to wrap our minds around the value of a protocol. We couldn't wrap our minds
around the value of disparity and same thing going on for bitcoin,
but its value is being unlocked because now, as we've seen
the internet progress in my my career from being worth
180 billion to 3 trillion in 2005 to 20 trillion 2020 and 2020
and now the Internet's worth an invaluable number to the hundreds and hundreds of trillion
to the development of a society relies on. When you think of Bitcoin and realize
it is a player and it's going to change, our trust has
done for the entire internet. You look at the market cap in like,
well, this, you know, in seven years or ten years,
is it going to keep on falling and onto an unbelievable level and it's going to change the way
that the world works.
And so to that end,
the next phase for Bitcoin is what they call the Bitcoin Lightning
Network, which addresses the stuff you talked about, the ability to actually
transact at extremely high speed and the millions
and millions of transactions per second for really low fees
allow it to become a true payment network. So you see, you answered perfectly. The first part of my question is just,
you know, what is Bitcoin other than, you know,
way of moving money around? The second part of my question and we already kind of lightly
touched on it, but it's like one of the main limitations
of how it exists today. Right? So, you know, Bitcoin itself from a computer standpoint
has it's very secure, very trustworthy. If you want to send a large amount
of Bitcoin denominations, say $1,000,000, $10 million, it'll get there
and might take an hour until processes. But it's not useful for every day
buying a cup of coffee. It doesn't work. I bought what Bitcoin has and his favorite
now is technology called the Lightning Network,
which is layer two to Bitcoin's layer one.
And why is that important? The Internet was scaled
with multiple layers of technology, bitcoin and the philosophy behind
is following the same methodology that scaled the Internet. And so the lightning network
now allows you to be able to send a micro-transactions,
a penny of value across the network and high speed to anywhere and and it'll arrive without losing its value. So, okay,
now that we've kind of prepped, you know, what is Bitcoin,
what are some of the limitations of it? Let's talk about your company Liquid. So what are you guys doing to kind of push
forward this next iteration of Bitcoin? You tell us a bit about.
It, right? So the Lightning network itself
has made up what they call nodes and channels,
and so they have in it works very much like a mesh network
like the Internet itself. So when you want to send a transaction,
it goes through multiple providers, multiple hops
until it reaches its final destination. Very similar to
if you were to go to Google.com, it will go through shore
and the next provider until it gets down to where it has to go. Now what happens is companies
like ours, we've established right now 19 points of presence around the world
and we have our Bitcoin on these these nodes and channels
and we have four transactions to that end and it allow it
to get to its final destination. And we are rewarded by the network
and we charge of fees in Bitcoin for that. So the more transactions we process, the more transactions
that go through our part of the network that we handle because we have great
visibility to the rest of the network.
The more money, the more money we make. So let's dove further into India's
growth story. So why don't you tell us? Can you share with us
let's talk about your growth strategy, your plan for what in the next few years
look like where you guys are? Yeah. Absolutely. So our growth strategy right
now, we're very much modeled after, you know, Silicon Valley. We're going to be down there
a lot with the previous companies and right now it's all about gaining market
share on the lightning network. We our brand awareness, our our reach,
the number of channels of connectivity around the globe
and get in the middle of the money stream because once it's established
that race is on and a lot of big companies are asleep at the switch,
they don't realize it's coming. But right now, the best and brightest are waking up there
and working on in Silicon Valley. And it's coming in a big, big way. And so we're the first public company
that's doing it. And we're doing it
because we've been in Bitcoin a long time and we have our finger on the pulse
for very aggressive about it, and we want to establish
that point of present.
So for us, as many nodes and as many channels,
about as many transactions as possible. And what is happening with the lightning
network is is growing at an astronomical rate way
beyond what people understand. It's growing at triple digits
and and getting that hockey stick curve. And we're seeing that
and it's accelerating beyond that. It's going to continue
to accelerate faster. And so we want to be in the middle of that
and have the growth of the network carry us off because we have
a big footprint on a carrier. So faster than anything possibly could,
we want that weather called Metcalf's law, that network effect, which is very
important for us to get in the middle of. And so this is we're
putting all our efforts into that. And we have a we have a great reputation
in the industry. We continue to expand on point and and again, gain traction. Amazing. You do have a great reputation. And that's why I was so excited to continue to hang out with us
and really appreciate that. Let's get into the quiz, everyone. Give it up one more time to shine.
A quick recap..
