hello everyone this is Adam Meister
the bitcoinmeister the disrupt meister welcome to this week in bitcoin today is
june the 12th 2020 strong hand long-term thinking
don't fomo on all it's bitcoin is the next bitcoin
bitcoin equals one bitcoin uncomplicatable i'm offended by
selling i'm also offended by jitsi right now
no by my internet connection because you can't see my face
oh no but you'll see the other guest face it's my internet connections fault
i haven't done a show early in asheville yet and i guess the
connection in nashville just isn't very good early in the
morning or at least this week it isn't but hey these dudes you're going to be
able to see all their beautiful faces taizen is here i put his name in the
title just to trigger everyone yeah that is that's why i put his name
in the title because some people just go crazy when they see his freaking name
out there all right but the other dudes are
awesome also has mccook is here and introducing linear
trav linear trad is a dude who's been watching my show for a while
and that's who he is because here it's not about clicks if
you're just some regular dude off the street that's been watching my show
who's a really smart dude you get to come on the show if you want
to you never know what you're going to get here
okay so we're we're going to start off with uh with ask mccook here a quote of
his uh from this week in bitcoin he says
globally eight billion dollars eight billion
dollars of stimulus money has been printed every hour since
kovid's spending started uh eight billion observe absorbs two
years worth the bitcoin supply at this price
profound statement there talk about it so uh so i think the the main message
there is a a lot of people get lost in the size
difference between a million dollars a billion
dollars and a trillion dollars a trillion dollars is a lot of money
it's uh it's in fact it is 1 000 billion dollars so uh
globally over the past uh not even very long
hundred days or so since com covid stimulus started
uh globally 20 trillion uh has gone into into money printing and uh
and government programs so uh 20 trillion dollars
at a bitcoin price uh of 10 grand uh you know assuming there was no such
thing as as difficulty errors and assuming there was infinite bitcoin
uh it's enough to sustain uh the absorbing the current supply of
6.25 a bitcoin every 10 minutes at 10 000 a
coin for about 5 000 years so when people say
uh you know bitcoin's too expensive uh or you know
i'm too late to bitcoin or bitcoins you know already big enough
as it is uh you know bitcoin really is uh is
nothing uh in the in the scheme in the scheme of
things uh to the point where uh half an hour of global stimulus uh
could carry bitcoin for an entire year now that tweet is linked to below now i
gotta ask you something pass you came up with this uh
statistic this week some people have been complaining about this week in
bitcoin they were bored some people were you
bored this week because there wasn't not a much price uh fiat price activity
until yesterday i guess uh uh
luckily uh luckily for me i've got my uh uh my my buying on
on auto so i don't really i don't really follow the price
much except for when people post about it and it and it hits uh
uh my news feed so i've got like a you know just like how you
automatically sign up to give to charity uh every month uh i give my charity
uh to bitcoin uh every other hour so i think uh i think i was promised a
chat about bitcoin being being a charity and we'll uh we'll talk about
that maybe a little later yes we actually we will now linear trav
welcome to the show uh i i want to hear your take on
the money printing and were you bored this week
well i was not bored i was in um a beautiful cabin in minnesota
relaxing in the sun um but yeah i i think that's why we're here right i
mean that's why we are in bitcoin because of this known
exponential printing of the fed i've been knowledgeable of
you know austrian school thinking for over a decade now
and um that's kind of exactly how they've
said it's going to play out is that they're they're going to print trillions
and then maybe tens of trillions and after that
hundreds of trillions and quadrillions who knows when they get to that but
it's happened before and um and i think that's why we have that's
why we buy bitcoin because that insurance now that's why
some people do it definitely now we've got we've got a guy
here who uh i don't think he buys bitcoin for that reason i don't know
uh what's your take uh taizan on the money printing and was this a boring
week for you um yeah it's it's been a boring
week you know i mean the stock market is getting more action
than the crypto market right now um you know
i'm a trader so so i'll trade anything that i can see potentially how to make
money um if you look at it from a
philosophical perspective you know uh if you want me to talk from a trader
perspective i just trade anything i i really don't care as long as
you know it has an opportunity to make money but i'm gonna put that aside i
always just want to talk about the philosophical
you know so i'm gonna put on my philosopher hat okay
so bitcoin there seems to be you know things coming out with for
example and this is just it just really is just annoying so i
just want to make it clear to your audience in case they're not
aware of it you know like bitcoin solves three problems that a lot of people
overlook okay you know even though i don't only need bitcoins right now
you know because i'm a trader but from a philos philosophical perspective
you know i never forget why bitcoin was created
bitcoin was not created to be decentralized it was created to be
censorship resistant it was created so that it's unconfiscated
it was created so that it's permissionless
you don't have to worry about anything else just if you just remember those
three principles those three basic fundamental
concepts of bitcoin okay it's censorship resistant which
means that no one can come in there and censor you when you use it
how you use it what you use it for the manner in which you use it when you use
it where you use it nobody cares no one's gonna stop you
from using it that's why bitcoin has value number two
it's sense uh it's it's permissionless you don't need someone's permission you
don't need someone's authorization to use that network to use
that system give me black white you can be racist
you'd be discriminatory you can be bound to be white you can be
old young you can live anywhere and you can you can be on the moon when
you go to elon musk's you know moon base or mars base you can still use
it it'll be a lag time between the
transmission time but you can see you you need to release permission
an alien can come to earth right now and use bitcoin without anyone's permission
okay number three is it's unconfiscatable
i think it's in argentina or venezuela or one of those
south american countries i just tweeted out just a couple days ago
they're talking about going in and all the rich people
they're simply just going to confiscate everyone's money and they're going to do
the same thing like they do in uh in greek uh when they did the the
haircut they just went in there and said they're trying to pass the law right now
if i get the country wrong it's okay you know but uh just remember
they can go in there and confiscate your assets the wealth
and the money that you created in your life for you
your employees your business your family and stuff
no one has the right to do that no no one has the right to do that
when i left vietnam after the war between
vietnam and the u.s you know the reason why we had to leave
was because you know people the government came in
and confiscated they just came into my families you know we were doing okay and
they came in there and they just took everything
they would just go to everybody's house and just take your assets
you got gold who cares they just take it you know fortunately
my grandmother was street smart enough to where she required them to to leave a
receipt to show that they confiscated her
property and then like 20 25 years later she still kept those receipts
and she demanded you know a reimbursement from the government and
you know they paid her you know chump change for
but at least she got something a lot of the other families did not ask
for you know confiscation documents and so they they could never get any
type of compensation for it but though if you think about it these
are the three things who cares about anything else
you know these are three things that makes bitcoin
valuable and powerful and sometimes you know
unfortunately you know in asia they don't i haven't met
one asian person yet unfortunately that understands those concepts in asia
you know like like a local asian and that's that's what i've been trying to
spread the word over here in asia is that that's the reason you know because
in asia they just think hey man you know it's just hey man it's just a way to
make money gamble man and just get your money and get out of there
now i do that as a trader don't get me wrong don't get me wrong
as a trader i will do whatever you know in the crypto markets to make money
however when i put my trainer head aside and put on my
philosophy hat you know philosophical hat i
i understand why bitcoin has value and why
something like that is needed in this world especially during this time
and i want to just uh end it with uh um what um um what um
the the previous uh uh speaker just said you know um
about the large numbers you know and when he breaks it down to the amount of
money that's being printed you know one thing that humans have a
hard concept with is the idea of big numbers there's a
really if especially if you're a trader or you're
a uh a um a uh trader an investor or you just want a big understand big
picture economics and see how these big numbers what they really mean
billions and trillions there's a really good book called in
numeracy in numeracy and it's by a author named john
allen paulos it's it's probably like i hear
you know first or second year college level reading material
you know but it's it's it's a book that explains what these large numbers means
like when you hear about like a billion or a trillion or what does this mean
when it says millions or things like that and the author does
a really good job of breaking down illustrations similar to
what you know our previous speaker just said uh to break down what does it mean
when we say a trillion what does it mean when somebody says a
trillion or a billion or or a light year or
things like that it's really when i read that book it really opened my eyes up
to the the scale of large numbers because
as humans we're so used to dealing with like one two three four five
ten like the biggest number we probably work with is like the cost of our home
which is like two or three hundred thousand dollars
you know and that's it it's rare that we deal in the in the millions or the
billions and so when it's when it comes to
trillions it's like what the hell is that
you know so by having you know him explain
what does that mean when we have a trillion how many bitcoins that you can
buy or or consume or whatever you know it's
a very big eye opener you know so thanks for sharing that
well a trillion a good way of looking at it is a million million
uh so uh and again that's a a difficult concept and it's good you
you did uh recommend that book and everything i doubt but
who knows who who would check it out but i mean right now the word
trillion is thrown around so much because of the government stimulus and
people are totally totally taking it for
granted and uh it's it's lost a lot of meaning
uh which is uh quite unfortunate and
uh many people uh predict that it will lead to uh hyperinflation in the united
states but speaking of hyperinflation i i wanted to
jump to hass mccook here and uh you you uh you tweeted out about
lebanon which i i think yeah people forgotten about lebanon now
because since uh you and i were hanging out in
australia in october that's when the crisis began in lebanon
but apparently a lot of other things in the world have happened since then
uh and uh so what's up there what's up there
oh the the the the lira rate uh is up so uh so when you uh when we were
hanging out back in october i think uh it the inflation had already
started and uh the lebanese lira the lebanese
bureau uh was pegged to the us dollar for a
very long time so basically from the end of the
lebanese civil war in the in the very early 90s
up until you know this time last year 1500 lebanese lira was equal to one us
dollar and and that was the rate so in around
august uh last year uh the peg broke
so when we were hanging out in october i think uh the
rate of the lira had increased from 1500 up to 2000 and uh yesterday
we hit 5 000 lira so the lira has bounced back so it's very difficult to
get to get a price for the lebanese lira
because there is an official bank price and there is a street price
so yesterday the street price hit uh 5 lebanese leader toward bella uh it's
back down today to about forty five hundred
uh lira so uh the lebanese leader is more volatile
than bitcoin at the moment uh but the uh the official bank rate has been lifted
from 1500 lira to 3 000 lira so still substantially
less than the than the street price so the
country has also run out of paper dollar so if i have let's say i have uh
fifty thousand us dollars uh in the bank in lebanon
i can go to the bank and they can show me on their computer screen
uh that i have a balance of fifty thousand uh us dollars
but if i want my money uh they'll pay me only in lira and they'll pay me at the 3
000 lira rate so i take my money out of the bank in
lira i take it to the street go to a street
exchange and try to get some us dollar and uh
i'll have to take a 35 haircut uh to get my hand uh on some on
some paper dollar so uh naturally in in that situation uh
the people get unhappy uh uh corona has been extremely convenient
for the government so in lebanon i think there's only been something like 800
cases of corona with 20 deaths uh but a good way to
suppress rioting and protest is to tell people to
stay home because of corona uh yesterday the people stopped caring
and they went up to tripoli and burnt down one of
the central bank main main building the army's got
involved uh to shut it down and uh people are
starting to go hungry uh so who knows what's gonna happen to
lebanon uh there's a uh you know there's a political
stalemate uh uh the imf in the world bank
and i think uh the french have a rescue package
ready to go uh on one stipulation that we get rid of our government
and you know obviously that's not going to happen so
uh the only real hope for the lebanese is probably
more pain more hyper inflation because hyperinflation could only get so
high to the point where the army and the police will start getting poor
and when the army and the police can't feed their families i suppose that's
uh that's when things like like like a like a military coup is an option
on the table either way there is probably no no
positive outcome and for all international you know
onlookers this is what happens when a government
gets too deep into debt a people get too deep
into debt and uh uh there is a corruption
and lack of structure so you could really say
in this case uh the state is the virus well first of all pound that like button
for that insider information you gave us because i know you got
you've got connections there to say the least
i i do want to point out you you talk about the complexities of getting their
money out of the bank now and how it's a total ripoff
etc etc but you also mentioned october um we've been talking about this since
october the i i think i hope there's some people
out there that uh that turns some of their worthless lyra
now worthless uh in into bitcoin i mean people can
prepare we're this will happen in other countries okay
this this type of scenario it's going to happen again and again and again
and the 20 percenters out there whatever you want to call them
i mean they got to know that this option is on the table that this bitcoin
is on the table because i mean i know dudes in venezuela that are
happy as anything um well if they could get on the internet they
would tell you but they can't now um that they got into into bitcoin when
they did and it it really uh it really saves you so um indeed the
situation is bad there now but this situation was bad there in october
and there was back then there was still a chance to to
actually get some value out of your uh your lira and uh forget i told you it
was pinned at 1500 to the dollar for a long time uh so that
was from 1990 until about last august
but only five years earlier than 1990 it was
four lira to the dollar yeah so yeah so that so that so uh so it
went from four uh to eighteen hundred and then they
pinned it back to fifteen hundred so the lebanese uh have a long time history
with hyperinflation and i'm not going to you you can't really exactly prepare for
hyperinflation but they are mentally and
psychologically at least prepared for it uh you know as they've
lived it before like uh uh uh you know three hundred percent
inflation uh you know they've had fifty thousand percent so
hopefully it doesn't get to fifty thousand percent
because last time it did uh basically society collapsed civil war
ensued and uh the whole region was uh almost
uh irreparably destabilized well here here's here's a general rule
if you're in a developing a so-called developing country uh i
don't i don't think uh it this uh this economic world economic
environment we're in right now i wouldn't be saving in any developing
currency at all i would find a way into into bitcoin uh if you could uh let's
get uh uh linear trav any thoughts on inflation
uh macro uh stuff anything on your end well i think um the other two guests
their experiences show that you know it it's very painful and i
think that's what we're seeing now is the beginning stages
of the monty money printing and the machine go bur right the printer is
doesn't does not stop so for the layman like me it's
when i hear those stories um it's it's definitely eye-opening i mean it
it's hard to even understand that here in the states
that it could get that bad but it's just knowing that it's real and
it's very painful and what they're doing is yeah the only way we can stop it is
through something like bitcoin uh like taizen said it's completely
censorship resistant uh yes remember that people all right now
bitcoin and bitcoin is the next bitcoin and one
bitcoin equals one bitcoin but there is a company out there that seems
to like to dabble into all coins uh to say
the least and uh this week coinbase announced uh
i think 18 uh new altcoins or the possibility of 18 new altcoins
and they pumped uh for me coinbase is a private company they can
do what they want to do a lot of people get angry at coinbase uh
because also earlier in the week uh they announced
they created some product that's going to
help the dea and uh the irs
so i'll stick with you linear trap since you're an american wha
what do you think about coinbase in these developments
well i've i've used it for a long time and i i gotta say
it's it's been painful um i i got my money out of there a while ago
but to be honest my mom still has money on coinbase
and i just they just continue to disappoint
i cannot believe that they are selling their users and the entire community out
like this i think that's that's an absolute outrage that
they feel this is the way that this technology needs to move forward
and we've known this they've had an inkling of it
that they've shown to be anti-bitcoin but this is
this is just insane that they're doing that they're going this far um i
i don't even know i mean it makes you think well what about my old
transactions with them and they say they're not using their own
users data but they have to be there's no there's no way around it um
they've been the main on-ramp for bitcoin for many many years
and they they might use a side of hand somehow
to get around them saying oh we're using our own users database
but they're you know they're fraudulent at this
point i think it's it's it's insane all right taizen your
thoughts on coinbase and uh their altcoin madness and their uh
perhaps collaborating with the government madness
oh okay so uh i i don't think it's all point madness no no i love trader
okay so i'm just giving you from a trader's perspective
that they are in exchange they're in the business
of listing coins to be traded by their users by their customers
so i prefer the exchange to just to be neutral and just list the coins that the
customers want and let the customers decide and let the
market decide you know when you start you know so to me crypto is about
being censorship resistant so when you start censoring a user
or a business on what they can do and what they cannot do
i think that you know uh the uh i think that that's when
there's problems now um you did mention that um
that there was uh that you think that it's fraud or whatever
uh i don't know i cannot comment on that because i i
i've used coinbase in the past and i'm not familiar with the the fraud that
you're talking about i'm not defending them or nothing i'm not paid by them to
say that okay um i i cannot comment on that
simply because i'm not i'm not aware or or aware of the fraud
that you're referring to but as far as go ahead well
maybe not by by law but you know what is moral is not always
you know what is moral is not always um law
and what is law is not always moral so from the standpoint yeah
yeah yeah if you say that hey you know from a moral perspective from your
personal moral perspective you don't agree with they're listing other coins
or something that you know i i can respect that um i
usually don't accuse anyone a person or business of fraud
unless i have very clear-cut evidence you know i've
been to prison in the american prison system before and you
know i'm one of the few human beings on the planet that's actually been through
a federal criminal trial and went to prison
actually still on the streets because normally people don't
come back after you go through a federal criminal trial in america
so i'm very familiar with their their their system over there
their law enforcement system so i would not accuse
someone of fraud or business of fraud if i didn't have
clear-cut you know a law or a violation of that
you know because i was i was accused my brother and i were accused of things
that we did not do so you know matter of fact president
trump signed the justice reform act and you know released my my brother my older
brother from prison about three months ago
really whoa whoa he's been in prison uh 28 years and uh
you know since you know he and i went to prison together as
teenagers and he just got released uh uh you know three three about three
months ago thanks to you know president trump's uh justice reform act
you know because he signed a law that said that hey you got to send these
people correctly you can't just sentence them to
just any random sentence that you want you have to
send me so your brother is free on the streets
yeah yeah he's he's stuck in a halfway house in houston right now
simply because um the um the uh because of the corona virus stuff
you know and also because a bunch of mainly because of that because you know
so have you seen your brother yet have you have you been back
no no no i've not seen him like i talked to him on on you know uh social media
apps uh you know i compute communicate through him you know um
through video and stuff but no i have not seen him like in person and
he has not seen me in person or anything like that um
i'm happy for uh for justice i mean i i don't know his whole story or anything
like that i i probably should comment on but i'm happy we got busted with a small
amount of drugs and then you know the reason why he got extra
time more time than i did was because he got charged for using a uh a gun that
he did not have in other words like they charged him for
using a firearm which he never had even during trial
when when the jury asked you know where where is this gun that you keep
talking about him using they they never produced it like it was never there
there was they just made up a charge that he had
you know uh from when he was younger where the case got dismissed
when he was younger and then they brought that case back and said he used
it it was mainly we refused to snitch on
our friends and other people in the neighborhood
because i grew up in the in the ghetto in in a very ghetto black neighborhood
in the city of port arthur texas and we we refused to
snitch on our friends and our neighbors you know so they just slammed us with a
bunch of time and a bunch of crap you know but thanks to trump you
know got it um got it well uh corrected so he got
released so instead of doing the other side i would oh sorry i just want to say
that this has been a unplanned beyond bitcoin moment here people
you never know what you're going to get i i uh taizen has quite a story here so
all these guys are linked to below so please follow tizen and
i as everyone can tell i'm very surprised by this news i
i uh but okay let's get back sorry tyson you're you're talking about the the
issue with coinbase also is speaking of snitching are they what
do you think about the them working with the irs and the uh
i grew up in the hood you know so you know like you know we have a model that
says snitches get stitches you know that means that
they get beat up and then they get cut up and they get shot and stuff you know
and you know in in this case you know when you use coinbase or any exchange
they have access to your personal data and your personal id
and and by law by law they after you trade a certain amount of
money right after you go past a certain amount by
law they have to report that to the irs to the internal revenue uh
services of the tax man into the government so if you do that in
the stock market they you know the brokers like td ameritrade
like charles schwab they report that too so to me if they
report that to the government that they're just you actually want an
exchange that actually follows the law and does what they're supposed to do you
know and sometimes we forget that the crypto when we use the crypto
it's censorship resistant it's private it's you know permissionless
and and we don't need uh it's unconfiscatable however
if we take our crypto and we give it to an exchange to hold on to it for us
whether to buy it to sell it to store it whatever reason i don't recommend you
sell any crypto on any exchange but if you put it on the
exchange now you are in their jurisdiction where they
have to follow the laws of their country so we cannot
blame that now if they provide software okay that's one thing now we're
talking about they provide software to the government law
enforcement agencies so that the law enforcement agencies can
spy or or or analyze your trades your
transactions and stuff to see what you're doing right
now that that's a different story that now that comes back to you know
uh it's a moral issue of do you agree that that's you know violating
your personal financial privacy or not now here's the thing you don't
have to use them if you don't want them to interfere with
your your personal financial privacy like
i always recommend that people get into crypto especially if you're dealing with
small amounts like less than like 50 000 or so to go
through an exchange that's possible where you don't have to
reveal your personal id your your your all your personal uh
identification uh um information identifying information if
you don't want an exchange or somebody else to know what you have
you know the only difference is that you you have to pay a slightly higher price
and you have to go it takes a longer period of time i got a specific question though you're
you've talked about two kind of separate things here and one
i'm going to clearly separate them coinbase is developing a product
that will allow the irs and the dea to study public information
just all sorts of public information do you think
does that bother you enough to no if there's not relationship with
coinbase it does not bother me i think that the problem that people
have is because it's coinbase that's doing it and not an
individual company if haas or myself or you or somebody
else doing that right if it's an individual
that has nothing to do with a cryptocurrency exchange like that
one company called i think it's called chain analysis or
something like that they do a similar thing
it's basically it's basically it falls in the category of
cryptocurrency forensics software that's the category that
it falls under right so that the the the tax man
and the law enforcement can use it to you know
do their uh uh whatever their tax research to see who's violating tax laws
and who's violating uh uh you know the laws of the country someone
is going to make that someone is going to make that regardless
if it's coinbase or if it's chain analysis
there's going to be companies that come out and do that and i expect more
companies to come out and do that so i don't think i mean there's the
market if the market needs that type of tool
someone's going to create it right maybe there's a a a moral
issue like it kind of eats us up the fact that hey you know you're the
exchange i'm using and i'm giving you my bitcoins and now you're gonna go search
on me that's what i'm saying yes yeah
sorry yeah but but if it wasn't an exchange like chain analysis like you
know like there's a big fuss when when chain
analysis announced that they had software
to uh uh i hope i get the name correct but there's a company out there i think
somebody that said that they can do and then i
i talked to one of those people at um at one of the the the the uh what do you
call it the boxes at the at the texas rangers
baseball stadium in dallas right i mean in um
in arlington uh uh in the state of texas and that lady that i talked to
she said that whatever transactions you make on bitcoin she says we can find out
where it goes she says there's no hiding you know
she's she says that we've done it we've tested it
and any transactions you make she says that we can trace it down
we may not at the moment but she says that if they make enough transactions if
you make enough transactions she said that we can find out who it is out there that many people find immoral
and disgusting but it is out there chained analysis actually announced this
week that they can do it with z cash and dash also i want to get hass's
take on coinbase uh from the australian
perspective here yes i probably uh agree
uh bits and pieces or maybe even in in full
uh with the others like i don't like coinbase
i think their practices are extremely dubious
but like it is what it is people now protesting going out
defund the police whatever just defund coinbase just stop using them if you
don't like them don't use them uh because unfortunately like the casino
industry is like it's here to stay and if it's not
coinbase that's listing these coins it's binance if it's not finance it's bittrex
if it's not them it's them like if you just if you
don't like them uh don't use them and uh and recommend
against their use to people like asking uh when they're getting into bitcoin so
for me when like and you know uh every kind of
evangelist is unique so i've got the i've got the
savings donation approach so when people ask me
about bitcoin the first thing i tell them is make
yourself a weekly budget and just start buying every week dca
and like now there are several companies that just provide a pure
dca experience so you know if you're in america
uh you've got swan uh cash app river uh in australia over here we've got like
bitterroot and amber in england you've got coin floor
in continental europe you've got uh they've got several options popping up
bull bitcoin in canada basically anywhere you go now like at
least you know in the anglo sphere uh if you want a bitcoin only option
which allows you to to save you know at fifth tables daily
weekly fortnightly monthly uh whatever that's all available uh to
you now uh at lower fees in many cases to places
like coinbase and whatnot but if if trading is your game and you know uh
all coins are your game uh you know if if there's a game to be
played somebody's gonna be somebody's gonna
make money providing a playground uh so uh i don't agree with what
coinbase does uh so i just i don't use them and
uh recommend against them uh and and eventually you know that uh
uh you know that a line of thought will either pick up steam and people will
stop using coinbase and coinbase will go out of business uh or that line
of thought doesn't pick up steam and people continue to use coinbase and
and coinbase keeps going strong so it's uh
the nature the nature of the of the free market so uh
yeah if i don't if i don't like something i just won't spend my money
there so all right pass okay can i add something on top of what
um you just said here yes sure yeah from a philosophical
perspective i agree with what uh um um you just said with
hospital said but now as a trader okay i just want to
share this with your audience so you know the the risk
of losing your money and getting hacked and all kinds of stuff
okay is significantly higher with a new exchange or just some random exchange
coinbase is the biggest not just an exchange a crypto exchange
but the last time i checked they had like over 12 million
uh users in in um in uh 2017 and by now they should have even
way more than that probably over 15 million users
since then right they are the biggest broker
in america and they are partially owned by the new york stock exchange so
all the rules regulations that they have to
comply with to be a legitimate broker in america they they are doing
their best because you know the new york stock exchange i think invested like 75
million dollars into them way back in like 2013 and
2014.
So i'm saying that because if you have a
large amount of money and large is different for everyone but
i'm just going to go out on limb and say this
if you have more than like let's just say ten thousand dollars that you want
to put into crypto i'm gonna say that that's one of the
safest exchanges that you can use in america okay and if you have access
to it from europe or australia or canada that is by far one of the most safe the
safest exchange and it has the most experience with
with in the markets to prevent from being getting hacked
and they can scale and you can buy large large quantities of crypto safely
i cannot say that about too many exchanges there's only like
maybe two or three exchanges in the world that you can buy like a hundred
thousand dollars or five hundred thousand dollars or a
million dollars with the crypto safely and know that that you're not
gonna get ripped off or get hacked or or easily okay so i just wanna put that
out there so that if you have any viewers or users that
say that that that hear this you know i don't want them to
think that hey i'm not going to use coinbase if
you're an elderly person you're not good with computers and stuff
that is probably the safest exchange in america for you to use
outside of like that in gemini okay like we i had a client that that
recently had to buy like a million dollars with the crypto
that was the only exchange that we could recommend them to buy that in america
we're not going to recommend them go to like a decentralized exchange or some
exchange offshore right and the other thing too is that when it's time to do
taxes when when you have to to to pay your
accountant to do taxes the more hours that your accountant has
to spend to figure out what your taxes are from crypto because most accountants
don't know how to do crypto taxes okay that's going to cost you a lot of
money so at coinbase they issue you a 1099 in the
tax form that you need to file your taxes in america
and they're getting better and better at it you know it's not the best but
they're getting better and better at it each year
right so that they can comply with the tax laws in america so just having that
at the end of the year you can print it out or they they print it out for you
and then you just give it to your accountant
it reduces the amount of time and money that you have to pay your accountants
to do taxes now i understand from a philosophical perspective
there are people that don't like to pay taxes they don't people that don't like
to comply with the tax laws in their country right i'm
just saying that for the people who are planning to
comply with the tax laws and who are planning to comply with the
laws of their country and they're planning
to you know buy a large amount that is that in gemini coinbase and gemini are
the safest exchanges in my opinion to use and that's what i
would personally recommend my family members friends and everybody
to go use just so that they don't get hacked because nothing is
worse than getting hacked or losing your coins
you're a beginner you lose your coins that's it you're gonna think this stuff
is a scam you're gonna think this stuff is a fraud
and we just lost a a crypto user a crypto investor a crypto fan a
crypto supporter and to me it's more important to have
more users and more people involved in crypto than
to to discriminate against certain exchanges
that's just my philosophy okay hey ty i really want to jump in and get
your perspective oh okay i was just going to ask ty
from a trading perspective you know they seem to come down
every single time the price spikes or drops
i mean how do how do you deal with that i mean that's another problem that they
have we built software for ourselves to trade
like we we have the thai food portfolio manager that
we've been building for the last few years
and one of the things that i've learned you know just building software for
a custom software for us and our students to trade in the crypto market
you know to be more efficient and to scale our trading what you have
learned is that the more users that you have there's
lots of problems that you you cannot tell like when we
have the software and we have it when you have some when you're
building software you use 100 users there's problems that you don't see
there's bugs that you don't see and then when it gets to
a million users that's not easy just so you guys know
right i talked to charles hoskinson you know and he said that
it it takes about five million dollars to get the software up to a point to any
software to a point where where you can have a million users and
i've confirmed this with several you know developers that's that that's
you know been long-time developers and they they can agree that yeah but
it's somewhere around there you cannot get that
you know 12 15 million users without millions of dollars
and the thing is that when software bugs happen there's things that happen that
you never anticipate you might have you know 15 million users
but only a million users are using it at one time
simultaneously and all of a sudden the market goes volatile and it goes crazy
and everybody's logging on they're trying to buy or sell at the same time
and now you got five or ten million users
it produces problems that they they cannot
they don't see those problems until it's being used so we
if if we don't know that those problems exist until people use it
how can we fix it you know if they keep letting it go on for four five ten years
or something without fixing the problem now that becomes a problem but if it's
the first time they've encountered that problem
right and sometimes the thing it shuts down because of the
large volume of users happening they may not even be able to replicate that
and figure out what happened like a lot of the software bugs that we have in our
portfolio manager uh for us and our students to use
sometimes we have to see that bug several times
several dozen times before we finally realize hey what is the software bug and
then we can go in and fix it so maybe they don't have that bug until
10 million users use it and how often do we have that
so i'm not like i said guys it sounds like i'm defending them but i'm just
sharing with you guys you know we have in software engineers
as co-founders on cryptocurrency.market we're building custom trading software
for us and our students to use so we when we run into that that's why
we encourage our students to do this if you have a large portfolio we always
recommend like having a lot of exchanges like i
personally have probably about 30 to 40 exchanges ready to go
simply so that when it's time for me to sell i have an avenues
to uh unload uh uh the the the coins and be able to sell it or buy it
whenever i need to so that's just just be aware that guys
because you guys you talk to a lot of guys
out there that only trade you know five ten thousand dollars
and they don't see issues with scale when large
amounts of coins are being traded or they don't see that the problems that
exist when large numbers of traders are using the
software at the same time i think my problem is all right uh i
wanted to oh yeah no no no going adam it's all
right no no no no no no you say i want you to
i want you to say what you're gonna say yeah i just uh i just don't know a lot
of traders and like i i i try to stop people i
try to stop people going down the road uh
so like for most of the exchanges i use like i'd be happy to use a back alley
exchange uh simply because like my bitcoin won't
sit on the exchange for more than 15 minutes
uh but i but i do understand that that's not a
that's not something many people do like a lot of people still use
the exchange as as their wallet so and coinbase is a fantastic example of this
in terms of like number of coins in custody uh
people uh you know buy and sell on coinbase but also use
uh coinbase as uh as their wallet uh which is another objection a lot of
people in the in the bitcoin community have the coinbase is just uh
uh they're uh they're a huge they they are a huge target
luckily uh they are yet to be hacked uh i think
i'm not 100 sure and uh uh and if it if it only takes uh a dozen
dozen times to spot the bug uh coinbase will get it right
i think in another two occasions because i think uh
i think that i think they're 10 for 10 on
on on the system going down like uh again uh i'm i'm not a i'm not a
software expert i do appreciate that a lot of
money has to point into software development uh but we were
talking earlier about the millions and billions and trillions uh uh if
coinbase can't invest 50 to 100 million dollars in their
platform like they're struggling pretty bad
because they've raised at least that amount
of vc funds so for the amount of money they've raised
you would expect a higher performance in in times of like extreme volatility
and utilization but again i uh like i'm probably not the best person to
comment on this because i don't have a like uh
i don't have a horse in the race i'm not american don't use coinbase and i don't
trade all right here talking about the big
boys coinbase is clearly a huge player
like them or hate them uh i mean we could talk about them
every week every week on this week that they have
they're in the news okay in some form or fashion so let's talk about
someone else that's as big of a a player and that's gbtc barry selbert
grayscale and you could talk about them every week and people
uh especially fans of the having and the supply have been talking about
gbtc a lot because i mean they they might end up owning two
percent of the bitcoin out there uh
at the rate things are going uh um it to me that that doesn't matter man that's okay yeah we're gonna say yeah
yeah yeah it doesn't it doesn't matter gbtc doesn't matter to you it doesn't
matter no no no no no it's not gbt doesn't matter like the p
people have this this concept this is what's i think it's
like i'm not a psychologist but i think it's called like the justice mechanism
like they did a test in college or somewhere where they bring
two random strangers in put a hundred dollars
you know on the table in 20 bills and they have person a
you know decides how much they split it you know like 40 16 50 50
70 30 and then 20 80.
And then then they tell second person b to say
hey you decide if you guys keep that money or not
now neither one of them know what why they're doing it the way they are
just that person a you know has to be you know
uh split the money up into two piles and then person b
has to decide if they keep it or not now they did it and when it was like 50 50
100 of the time person b would say yeah we keep it and then they walk out of the
room each of them get 50 bucks just walk in the room make
a decision and walk with 50 bucks and if person a looks at 60 40 you know
they notice that person b will like be reluctant and kind of you know
grunt a little bit but they go ahead and agree that both people should keep it
now when it goes to like 70 30 right person b they were shocked that some of
them said no we shouldn't keep it and then
when it got to 80 20 it was even worse the number of
people that would say no we would none of us should keep the money now
think about that you walk into a room and
you get to decide hey should i keep the money or not and you walk away with 20
bucks and you would say no to that like you
didn't do anything you had to say no to that
and i think in psychology they call it the justice mechanism
like it's not fair like that there's this innate nature in humans
that we don't feel that's fair okay even like
what's that got to do with gbtc though or everything okay
it's not just gbtc it's the amount of bitcoins that someone has like there's
always this thing okay i don't think people
if they control two percent of the bitcoin they are a big player i mean
they're a big player in the space that doesn't matter it doesn't matter if
you own you know 20 30 percent of the bitcoin
bitcoin can be divisible to 100 million satoshis
it goes up to eight decimals it's more than plenty of
what do you call that of math to accommodate if we need a 10 trillion
dollar supply of currency the 21 million bitcoins right it's more
than plenty it goes out to eight decimal places
and most people don't realize how big that is when you go out that far
that's that's a lot of when we talk about scale
that's a vast large number of scale if we need a trillion dollar 10 trillion
dollar 100 trillion dollar a thousand trillion whatever numbers
that goes up big bitcoin can accommodate that with no problem the
idea everyone controls 2 or 5 it's just to me it's just a
people are not they're more they have a justice
mechanism mindset more so than anything else
you know they think oh but but my bigger point is is that that bitcoin isn't
going to move that they're they're buying bitcoin
they're buying bitcoin at a rate faster than new bitcoins being produced
that's why they keep people keep on writing about
gbtc that they're buying you know yes who cares who okay that's what but
people look people who complain about supply
people who care about the supply shock and the having and the
stock the flow those people those if you've been fighting because i own too
many bitcoins you're trying to censor how many
bitcoins i can own it's hey it's a permissionless network
it's a permissionless network okay no one's no one's angry at them for
that people are happy that they're buying more
that that it's the whole stock the flow issue that that that's
that's what this is not me i'm angry you're angry you're angry okay so so uh
okay let's start let's linear traffic i'm not
angry you're uh you're an economist or
something you said yeah i mean what do you what do you
think about uh that that uh there's only x amount of
bitcoin being produced a week now and uh this one big player is
buying up buying a lot of it and taking so there's not as much for everybody
else to buy which i think is good yeah i'm not accredited by any means um
so i can't buy it directly from them but i understand the process
and i understand the alert of investors getting in
um and and actually it's a cycle these these investors
they sell their bitcoin every six months for that premium
and then they buy back the gbtc that's kind of a hidden secret that
barry won't tell you is that that's what these users are doing
and they're making they're making that that premium
every six months and then they're buying more and they're continuing i mean
i don't want to say it's a ponzi but i i mean is it good for bitcoin
right now it's definitely good for the investors that's for sure but
um i'm not even sure people are in it for the bitcoin they're in it for
that premium every six months and they're selling and they're buying back
that's it and someday they might not buy back um
so i think there's a potential uh a trader okay because we we i don't see
them using it in that manner guys yeah i'm just giving you writing though
it's i'm giving you guys as someone who you know we we help our students trade
you know and manage seven eight nine figure portfolios we're not
chump change traders okay so i'm just telling you guys
right if you have let's just say let me give you an example okay
if you have a million dollar portfolio and you want to put 500 000
into crypto and you have that million dollars in a retirement account
okay you cannot just take that money out of a retirement account and go put it
into crypto people don't know that i got you right
right so you might have tax incentives you might have tax incentives
that require you to put that into like let's say if you have
your money in america it's called an uh ira an independent
uh individual retirement account so if you want to put your money that's in an
ira into crypto you have to go through
somebody a business or a company that owns crypto
in in a in a secure custodian type process okay so that you can put your
money in there you can't just go and buy the the bitcoins off of a big uh of
coinbase or gemini you can't do that so you have to use that you see if you
want to put your money into it yes you have to pay a premium
like you said you have to pay like an extra whatever the premium is
but the tax benefits that you get from it outweigh that that's the reason why
that premium is there but i'm saying you need to buy it
directly from grayscale you're not paying the premium when you
buy it from them you pay the premium when you buy it
on the market when you buy the market gbtc you get my point
there's yeah yeah so so the the exchanges exist
for a certain solution the great you know exists
there are people that need that yeah you might hey man just go
buy the damn bitcoins yourself like buy you a million dollars with the bitcoins
yourself they can't we most guys in in crypto
guys there's one thing they can't see they can't think of scale i'm guilty of
it myself like you know in 2017 when i got to the
point where i'm managing a multi-seven-figure portfolio right
there's a lot of issues i didn't know i no no one told me that my mentors
didn't tell me that hey ty when you get to this size
trader these are the things that you need to manage a
large portfolio like that no one ever told me that i had to go figure me my
team had to go figure it out ourselves and now we're building custom software
to help to handle some of the scaling issues
okay but when we look at some of these things that we don't like
from a moral perspective we have to keep in mind
that those tools and those services and those businesses are built
for a reason for example we have team members
that buy into grayscale and gbtc and all that because
because that's the only way that they can put their retirement money
it's a retirement solution that that's i i want to i want to
ask the australian uh perspective on uh do you have any thoughts on on on gbtc
and uh the that they that they are a major
player i think we can't deny that i think the the only
problem i have with gbtc uh is the like
they're not your keys not your points uh problem
but i do understand how like regulation and rules
can prevent people from holding their own keys
now the problem is when you hold two percent of the keys on behalf of other
people you know without you know proving
or having the burden of proof that you're holding them and not
you know loaning them out uh uh to shoulders
uh like you know i get uneasy so for example like
for the past month uh gbtc alone has been buying up
150 of the new supply so they're buying more than is being
produced uh you throw cash app on top of them
they're buying up like 25 of what's being produced so like uh
all of the new supply is being swallowed up
you know and some uh but the price isn't going up
so it's just i don't know are people really
uh uh you know running out the door at this price they're really people
you're not like leaving like an exodus like on mats and
bitcoin at this price like something there's
something like uh for me that's personally fishy about all
of the supply being swallowed up like with absolute ease uh but just a lot of
you know legacy people just just leaving it just it doesn't
make sense to me oh okay i i have to add something to
that so that your viewers know because you mentioned haas that you
don't know if the bitcoins are there at grace
scale or not let's just say they have x amount of bitcoins that they claim they
have for customers and and you say that you don't know if
they actually have x amount or not you know just so you guys know that
listening to this guys in order for you to be a custodian like
to qualify as a custodian which means that
you are holding coins or money or gold or any asset on behalf of a customer
there's certain filing and there's certain reporting laws and there's
certain auditing laws that you have to follow
for example you have to hire an outside auditor to come in and audit your assets
for example i think that they use i just did a quick search
i agree with all of that like when has a bank ever followed like
laws and regulations like every single like day we read about
a bank getting fined for money laundering
or not uh not complying with compliance laws like it's it's too easy to do
well we're comparing two different things here guys we're we're comparing
the small minute amount you know how many
thousands and millions of banks there are in the world that comply with the
law just because there's one or two you know
banks or a small number of banks that don't
comply with the law and do something illegal right we can't cast that doubt
on everyone that's just like you know like that's like saying you
know one or two bad cops and we we tell say that millions of cops in
america are bad or around the world are bad
i i i don't subscribe to that type of of you know attributing what a small
minority of people or businesses do to the whole majority okay so totally
agree totally agree but we are talking about the guy that
authored the segwit2x defense so like there's there's reason
there's great reason for like bitcoin is to be skeptical of these people
like they don't really have a good history of like ethical
moral behavior okay so so so you're combining
your personal moral and ethical you know mindset onto a business that pays
a large sum of money for outside auditors to come in
and audit them now if if you looked at their audit report
and use that tie you know i disagree with this audit it says that they have x
amount of coins there's only so many manufa minted each
day by the bitcoin network and there's a i
don't see how they could achieve this i want more clarity on this and you look
at the audit report and you say that you know maybe i can agree with it but
to say that an american company that is following
the laws in the u.s that's paying large sums of money to get
audited you know on a regular basis so that they can comply with u.s laws to
say that they're a fraud or that they're fishy or something like
that i i've been accused of things that i didn't do before and i had to go to
prison for it my brother has been accused
of you know crimes that he did not do and he has spent
the majority of his life in it before so i am very cautious
when i point the finger and accuse somebody you know like when i accuse
somebody i clearly state the laws of their breaking
okay and sometimes there will be people online i hate their guts
i hate their guts i think they're piece you know
pos i gotta keep it 13.
Pg-13 i hate them in person i probably slap the crap
out of them okay if they come to vietnam you know
i'd probably beat the hell out of them just because i don't like them
okay but just because i don't like them doesn't mean i go online and accuse them
of being a pride or a scammer they have to break a law in the country
they're in the in the jurisdiction they're in before i open my mouth and
say that hey that guy's a fraud that got like richard hex i mean richard nguyen
this is to me he's breaking sec loss very
blatantly he doesn't think he is but with that hex
crypto that that bs crypto that he he's releasing to
everybody and he's raising money for it he thinks he's not i'm calling him out
right now i've been calling out all over but i'll go on video to say and i'll be
one to show you what laws he's violating so
he's violating usscc laws because he's in the u.s
jurisdiction that i will say but i'm not just gonna
go out and randomly just say that this just because i don't like somebody
doesn't mean that they're doing something wrong
all right all right we've we've us we've stretched out gbtc to a point where
we're talking about uh you know who so let's let's i would i
would move on uh we did we did speak of uh custodial
uh aspects of of gbtc and uh
and protest of uh of of coin base so i wanna tie it all in here
because uh jw weatherman has a very interesting
tweet that uh hass and i were talking about beforehand
uh how about a protest where we all provably lock up ten dollars of bitcoin
per month for 10 years what do you think about that one house
uh like i was telling you earlier uh opsec optic nightmare
because 10 doesn't sound like a lot but the
the true believers know that if you do lock it up for ten years
uh it it it is a it is a target uh on your back and uh everyone everyone
knows me you know uh how a religious and
spiritual i am about bitcoin and uh you know your
your religion should be kept your religion and charity and donations
should be kept private so uh just make a personal commitment uh
to lock up this money and save not for anyone else's benefit
uh uh but your own uh but at the same time
by locking up this money uh you are you are effectively
uh you are you are committing the greatest act
of charity uh humanity has ever known so uh what i mean by that is if you if
you wanna if you wanna save like the trees
or like the animals uh like you donate to greenpeace
like uh you know if you wanna like uh you know i don't know
uh you know with blood donations or whatever like you donate
uh to the red cross who do you donate to to fix the money
which is arguably the only worthy cause uh in the world uh you just donate to
bitcoin the only charity or the second charity
in history uh where you uh where you can donate and
have an impact and and become enriched off the back of
your donations well i'll say this uh people are are
saying that bitcoin is the true protest and i think what jw might be
going toward here is that uh everyone could talk a big
game like yeah i bought bitcoin and i protested
but if there was like a place where everyone could see
all the protesters that did it every single month
and and you see this is the the opsec issue here and everything i mean
not just that the traders would love it they could just start uh
there's all the indicators laid out uh on paper in front of them which they
could trade against all right so linear trap what do you think about
bitcoin as a protest and this uh very public version of that
i i agree with hass for sure um i think
creating this big honey pot of money um
yeah it's it's kind of like almost it would be a show to be honest um and
it's it's still against everything bitcoin is
is about it's decentralized so what is the point of putting all this money
into a pot and how do you even decide how it ever gets
used i mean that that you're going to cause more problems than
you're solving to be honest okay all right it's it's it provedly
lock up ten dollars of bitcoin per month i mean it wouldn't be it'd be your own
personal pot but then people would know it was your personal pot
uh it it it was just it was just any it's a statement uh a visual
statement against uh inflation i i'll say that uh that's a
nice way of putting it well let's talk about protests real quick
with uh uh with tie zen ties then i don't know if
you saw but there was a guy at a a black lives
matter protest saying that he was encouraging people to
use bitcoin so what what you were saying uh before at
the beginning of the show is that that's kind of a i wouldn't well it
shows the power of bitcoin that people that you probably disagree with on the
black lives matter thing uh they might get into bitcoin and
that'll be good for bitcoin and no one can stop them from getting the bitcoin
uh but what do you think about these uh protests that have been going on and uh
uh did you see that clip of the guy talking about bitcoin at one of the
black lives matters protest um yes i i see i saw the the black guy
um talking through the megaphone about telling the protesters to buy bitcoin
you know and to me it's it's good it's good that
we have somebody talking about it to spread the word
but you know it's it's also you got to do at the right times in the right place
you know for people you know if i go to the middle of a world cup soccer game
and tell people to start buying bitcoin or if i go to you know a super bowl game
and talk about buying bitcoins or to a ufc fight or something and tell people
to buy bitcoins i don't think it's going to have a lot
of effect simply because you're in the wrong environment and the
people are not there they're there to throw bricks
at cops and go bricks at people and stuff like that
and protest they're not there to to to uh
to look for a financial way out i believe this
you know just like adam like you became financially free
because of crypto because of bitcoin and because
i my family became financially free we're not enslaving to the system
anymore we're not stuck to the nine to five job anymore
i think that that's the best way that you beat the system you want to beat the
man you want to beat the system you you you
escape from the nine to five chain and go live the life that you want
you and your family to live you know one of the things that that
motivated me when i got out of prison you know after being in prison for
nearly 14 years when i came out i realized that the people around me in
society are in a prison they're in a prison
of a failed marriage they're in a prison of a bad relationship
they're in a prison of drug addiction or alcohol addiction they're in a prison
where they're stuck in a corporate job where they're paying they're paid
just enough to where they can't leave they get paid just enough to where
you know what if i leave it's just oh man it's not really worth it so that's
what they in america they call the golden handcuffs
right and to me that was a bigger prison than the one i was in when i was in
federal prison because at least i can see the steel bars and steel doors and
the razor wire that's keeping me in the prison
i know that once i get past these steel doors i'm free but the people that walk
around every day they walk around there's no steel doors
there's no steel bars man and the worst prison that you can be in
is where you're in a prison where it's invisible and you don't see
it you're stuck in that nine-to-five job you waste 40 years of your life there
what just to come out just to get social security just to get a small measly
retirement income the way you beat that is you escape that rat race you escape
that system and you go live the life that you want
to live like what you're doing right now adam
or what i'm doing right now and many of our students and our team members
are doing that's how you beat the system you know
and i wouldn't say that by i would say you know i would encourage people to to
get some crypto buy ten dollars a hundred dollars
whatever you can afford right that you know don't starve your family
but whatever you could afford and you know if if if holding it for a
year allows you to have the financial freedom
that you want uh holding it for 10 years gives it you know where whatever it does
get yourself free of the current system that you're in that's the best
way to beat the system and then you have the free time like
myself and like adam to go and you know preach to other people and
share our experiences with other people to help free them you know i'm i'm
grateful that i am financially free i'm grateful that you know i learned how
to do this stuff and share it with other people
so they can become financially free because i know that every person i help
they're going to help one or two people and to me that's the best way
to to to get people free of the system that we're in right now
you know oh wow and inspirational thoughts from
tizen pi pound that like button well we're obviously at the end of the show
right now so i want everybody to to give their uh final thoughts their
conclusions anything that was left off uh we'll we'll start with uh linear trav
i want to hear about your uh give us a little talk about 3d printing
because you're into that and this is the golden age it's not just
about uh cryptocurrency in the 2020s i think uh 3d printing is huge also no
that's true i think um there's a lot of parallels between 3d
printing and um bitcoin and the last 10 years just
like bitcoin has evolved um so has 3d printing and i think the
capabilities that um that are being built by small groups
all around um it really is amazing i mean and you know
to tie in with the theme that we've had of
censorship resistance uh permissionless and
uncomplicatable i think those those um lines of ethos
are starting to bleed in the 3d printing community i think um
you know things like 3d printed guns are it's they're fighting the same battles
that they are with bitcoin i mean code is free speech whether that
code is c plus plus for bitcoin or you know g code
and um they're fighting those battles line by line
um just like bitcoin is moving every 10 minutes with a new block um
so we could talk about it maybe some other time adam all that all the
specifics but you know i i think um it really is
the communities that are being built like bitcoin
are there in 3d printing and i think um there's a possibility of those ethos is
coming together and um i'm just excited to see
where that's going to go in the future and to be a part of it so
thanks so much for having me on really appreciate it awesome awesome keep on being in motion
3d printing motion i i i love it i love it
yes as soon as you brought the 3d printing man i want to follow uh behind
uh mr trav there uh with what he said so
there's a website called rep rap.org wrapped like a representative and rap
like hiphop rap.org i highly recommend that you take a look
at it because they offer like open source
uh 3d printing they have a huge community that if you're
like not financially uh what do you call that if you're
financially challenged and you don't have enough money
to buy your own 3d printer the the community is really supportive and
they'll actually help you print your printer i think
that's like the baddest like to me i've never said this until
you brought it up adam meister okay but outside of crypto and
blockchain technology i think that the most revolutionary
technology in the plan on in the universe right now
is 3d printing like i don't care if my kids go to
school or not okay i don't care about none of that but i
will get them some software and some hardware
so they can all learn 3d printing right now
okay as soon as they're capable of you know operating a a
computer and following instructions that's not the first
toy that i will get for my kids okay i i came from a manufacturing background
many of you guys you know if you've been following me for a long time you know
that i grew up you know as a machinist a
welder and you know i used to build commercial fishing boat
down uh in the southeast texas around the houston area you know and i've
worked on pretty much all the vietnamese fishing
boats down there and the shrimp boats down there
in the gulf coast area i i i promise you i
probably worked on about 90 95 of all these boats there before 1993
okay before i went to prison okay and when i came out of prison
when i saw what 3d printing was man i was up for hours like there's only
been a couple of things in my life one was like reading rich dad
poor dad and reading the unlimited power by tony
robbins realizing that hey if i change my
mindset i can create the life that i want to live
number two is probably uh blockchain and cryptocurrencies
and then number three would probably be 3d printing that
in that order right there you know what i'm saying and i
i'm telling you guys the the the the what i plan on doing is after the crypto
boom is over and it starts to become stable just like the traditional stock
market and the forex market and stuff i will be devoting all my time effort
and resources into uh 3d printing you know one of my
goals was to set up like a um like a uh like a
non-profit like uh what do you call that like trade
school in vietnam just to help out the vietnamese
community and and get them educated uh about 3d printing because i believe
that levels the playing field that that that
3d printing you know took away like in the old days
you had that big you know lays milling machines all kinds
of really heavy industrial equipment just
to manufacture stuff and nowadays you can prototype in
if you have a plan to invent new things right you can prototype and make a
prototype with these 3d printers before you take it to market and i
believe that that just levels the playing field
for the poor communities the poor countries and the countries that don't
have adequate you know industrial equipment
to manufacture and do all this stuff so i i'm looking forward to doing that
you know i'll be happy to stay in touch with you uh
linear trap you know and maybe when i get that
you know bring you over and educate some of our vietnamese young
you know engineers and young people to the art of 3d printing because i think
that that to me is a game changer and i
actually put it on almost the same level as blockchain as
bitcoin i i i really do put that almost up that at
the same level goal mid age in motion here we're making
connections this is unbelievable i love it i love the positivity because
you know in the world today we keep on hearing about destruction
people tearing things down people are jealous of other people uh
there's disease there's death there's this that
but look at this is reality this is the golden age this is what's going to
change the world the new stuff the cryptocurrency the
freaking 3d printing all right hassle cook what are your conclusionary
thoughts uh i'd say i tell everyone to uh
stand up for what you believe in believe in something
if you don't believe in anything believe in bitcoin at least
uh save save yourself stack those sets and uh you know with the with every
with every sat you lock up uh bitcoin becomes more and more stable and the
more and more stable it is uh the more and more uh it can it can
truly help uh the unbanked so uh just like uh rich
people buying the tesla modelers made the tesla model
3 possible uh rich people stacking stat sats is
what it's going to take to get this baby big and stable enough
uh to help out the unbanked so uh so do dig deep do your part give to
this bitcoin charity and uh it's like playing playing life on
cheat codes it's only the second charity in history where
you donate and you become rich excellent point thank you uh for
returning to the show it's late at night in australia you'll
get some uh a good night's sleep tonight no doubt
now uh we'll we'll end it with uh ty's then with his uh conclusionary
thoughts anything he wanted to add and uh he did bring up he did bring up
one thing i wanted him to just give me an opinion on you brought
up rich dad uh poor dad and uh the guy who wrote that uh chaos
kiwasaki whatever the way you pronounce his name
lately he's been saying and i quote i love bitcoin
have you heard about that yes and i do respect uh
robert kiyosaki you know he's one of the most influential people in my life you
know that that you know i can you know
conclusively say that his book rich dad poor dad that's
it made me quit college for good and that's the book that made me you
know not put my kids uh in college also you know because in
order for them the only reason to go to college is to
make money guys let's just be real about it okay
we're not there you know to be well-rounded if you want to be
well-rounded go be well-rounded on your own you don't need to pay
25 000 a year or 50 000 a year to be well-rounded you can easily learn how to
do that you know just by paying around the right
people all right so what i want to wrap up with is if you
guys watch this you guys will notice that
you know you guys know that adam and i have different views about bitcoin
you know um linear trav and i have different views about bitcoin
okay but one of the things that that that i recommend to people is that don't
let your personal views and opinions about one topic
cause you to lose out on opportunities that you can meet with other people like
you know i i don't let you know like it's obvious that
linear trav and i have different views about bitcoin about coinbase and you
know maybe grace a lot of things you know but you know what he and i can
still come to terms on 3d printing right he might have some
amazing knowledge he might have some revolutionary ideas about 3d printing
that i've never seen or heard of okay so don't don't be so close-minded
right yeah you can have strong opinions about
something but don't you know be be prepared that
hey you know if somebody has some ideas or something that hey you know what i
you know that could possibly work or that's a good idea or something
don't let your personal opinions about one
one issue derail you from not seeing that
in someone else i don't know if i'm explaining that clearly if you guys want
to add to that you know but that's what i encourage people to do
during this bear market during this this corona virus crash and all this
other stuff one of the biggest things that you can do
besides you know getting crypto bitcoin whatever that you like
right like like adam and and and everyone on this panel is saying is that
one of the most important things that you can do in life is
to network and connect with other people that provide value
you know that's that's one of the biggest things like you know go out
there go to meetups don't let this social distance and all
this crap uh under this hopes that the the mainstream media
is created prevent you from going out there and
meet real human beings guys right you go out there right i i
attribute my wealth my success my financial freedom to all the people
that i have met in life and i have network with become
friends with and appreciate what they do that is one
of the most important things that you can do
second to you know getting some crypto into your portfolio
go out there meet people connect with people find people
that do things that you like and connect with them get to know them
spend some time with them invite them out for a coffee invite them you know to
go do things like real human beings do don't just
tweet to them don't just chat with them online
create real human relationships and that's gonna pay off in the end
okay all right in motion is what we say around here be
in motion don't be a tree get out there network type
ties on this stuff and these opera this it's always an opportunity when people
are talking even it's exactly what you say you don't agree on everything
but you could find something that you do find it i mean
you don't know what a new relationship will blossom so i love these shows i
love bringing different types of people together like this and this
this is what it's all about being in motion okay dudes we do this
every single friday you never know what time it's gonna be on
you never know who's gonna be on but it's uh the best freaking guest in the
space i'm adam meister the bitcoinmeister the
disrupt meister subscribe to this backup channel
uh pound that like button bang that bell button shabbat shalom as we say
uh tomorrow you'll get enough you'll get beyond bitcoin
because we do a new show here every day thanks a lot guys
thanks so much for having us next week dudes you alright
