The Bitcoin Group #342 - Davos Regulators - Bitzla

The Bitcoin Group, the American original. For over the last 10 seconds, the sharpest Satoshi's, the best bitcoins, the hardest cryptocurrency talk. We'd like to welcome our panelists, Radolfo Adronsis from the law, it cough. Robert Allen from Bitcoin and friends. You got a mute too. Good to be back. Josh Jagala from the standard dot IO. They're worried about the FTX disaster and they're looking for other ways

to enact basic laws and a whole down crypto. They are worried though about regulating crypto because it might legitimize a sector that they worry is inherently speculative and slightly crazy. Radolfo, what do you think of the WEF's plans to fix Bitcoin? I read the title, it says Bitcoin, I read the content it talks about crypto. I mean, regulating Bitcoin, what does it mean? And when you

discuss FTX, what does it have to do with Bitcoin? I want you to discuss regulating crypto down the road, what has to do with Bitcoin. I really don't understand if they are discussing we should put focus on the self-custody, we should put focus on or they are discussing what exchanges should do. I don't care what ever regulation they put on exchanges. Yes, I think that the

fantasy of regulating Bitcoin is just as misunderstanding of what they are discussing, what they are talking. I think they're slowly coming to terms with it that they can't regulate or control Bitcoin. That things like the halving will keep happening, transactions will keep going through and it's pretty much unstoppable. Robert Allen, what do you think about the WEF after Bitcoin? Well, these guys are criminals. They're going

to do whatever they can to keep their criminal enterprise operating as it's been. But yeah, there's very little they can do to stop Bitcoin. I mean, of course, they could try to outlaw self-custodial wallets and things like that. Very hard to actually enforce that. Of course, they can slow down adoption in specific jurisdictions. But I think jurisdictional arbitrage will went out in the end. I think

it's a great deal. I think the government will be able to do something like that. I think a lot of Bitcoiners will do the same thing. I think game theory is we're in good position regardless of what they try to do. It does seem like we've been winning the whole time and it just keeps getting worse for them. Josh Agala, they're here to fix Bitcoin. It's

regulation again. Whether that's what they want. But the thing is that these guys are megalomaniacs. They always have been, always try to change the world. People call it the world economic for them. Because that's what they want. But the thing is that if you rate Lackford offer said, if you regulate anything, it's exchanges. There's already like crazy amounts. That's a regulation coming down the line from

the EU in terms of the travel rule and all this nonsense. So there's so much coming. They can't regulate Bitcoin at the base level. It's regulated by math already. And so it doesn't really matter what they do. It's just it's good to just ignore them and keep on going. I think that's the name of game. Well, for the exit questions, since we all agree that they

can't regulate Bitcoin, the question is, will they be able to agree with each other? Will there be a worldwide crypto type legislation within the next three years, five years, or never, or doleful? No, I think that there will be some some general adoption of of of roots. The fact that they, they got peace standards and all those really puts the countries in a bad position if

they don't agree on those. And, and I think that they several countries will work on an international with differences in every country, but with an international approach of how to address Bitcoin and crypto. Yes, but mostly understanding that that will affect crypto exchanges and the mainly people. But yes, I do, I do believe it will happen. And I also do think that. That in some way,

as Bitcoin and crypto adoption grows, it affects more and more people. And when these things are currently at FTA, I do understand that they have concerns of these situations, because finally it affects lots of people. Yes, that that started to go into the space for purpose is here. And we're going to be able to see that. It's less understanding and less knowledgeable. So I do understand

that they have this sensation that they need to be the savers of the world. And, and I do believe that it really affects a lot of people when these things happen. And if we any banks connect to the to the crypto space and the crypto space phase, the banks phase and people put money in the banks that are putting money to the crypto. So I think

that regulation is really inevitable. And it will have a big impact. But I don't care about that. It's just a matter of of time and and and Bitcoin will still be still be the only asset that has 21 million. I know this stuff that will be part of the discussion of the end of the problem. Robert Allen, they may be a gang of thieves, but will

they stick together like a gang? Well, this is the Hagellian dialectic that they will continue to be. So they will continue to be the only asset that they will continue to be the only asset that they will continue to be. And I mean, this, this is, it happens all throughout history. They're just doing it again. So will they stick together? I think, you know, they will

try, but I don't think so. And I think that's where we win is this game theory where some jurisdictions will go along and some a lot. And and as we see sort of the Western, you know, the American power waning a bit. I think the world is becoming less, you know, unipolar. And I think that's actually going to work in. Bitcoin's favor as well. Josh, Shagala,

will they stick together that either we all hang together or we all hang separately? Spend it on Franklin said. Yeah, I think, I think both guests that are spot on that they will regulate more exchanges. And it is scary for them that they're losing control. So they try to, the thing is, there's already regulation. Like everything that SPF did was illegal already. So it's like, they'll

be putting regulations. regulations of regulations. And then there'll be some deep that just wants to scam people anyway, even though and try to get away with it. And invest all money through somehow while they're doing it. And I don't know, it's, it's, it's a, it's game over. Everyone's going to head towards defy and and Bitcoin. Because of these calamities that happen. And that's the only regulation

that matters is mathematics. Well, and we always used to talk about the Trojan horse in the beginning and how we were going to do it. We were moving it through the gates. And then they picked it up and started taking it with them. And they were all, oh, it's our Trojan horse. And we're the ones that invented, we did all the, and then they put all

their defy and their stacks and all their extra money making magic on top. But at the same time, the Trojan horse is intact. And they don't know what to do. They can't regulate the core functions of Bitcoin. The way it's created the way it sent around who it sent to. And this is a major problem because as we're going to see in the next story, they're

all about regulating that. They've been doing it for 30, 50 years. They're way into it. Issue two, Binance named as a counter party in the Fin Sen order against bits, laws, Lado, bits, Lado, bits, Lado is accused of laundering $700 million by the US authorities. It's all about money laundering. No surprise that Binance is involved. But bits, Lado, a little bit of surprise. I don't know

anybody that's ever heard of this exchange. But apparently it's for criminals only things with scary sounding comic book names like Hydra and other things. Robert Allen lead us off here. What is this about Fin Sen money laundering and bits, Lado? Well, I think we are seeing a period in history that, you know, if you want to compare it to old texts like the Bible, the idea

of the apocalypse. What is the apocalypse? It's the unveiling. It's the unveiling. That's what that word means. So I think we're kind of living through an unveiling here, which is basically it's becoming more and more clear if you are looking and not brain dead. That world governments are criminal. And I don't mean that as like, you know, they do some bad things sometimes. But I mean

that like entirely saturated throughout the entire enterprise. They're all criminals. So they don't have any problems. They're all in breaking laws. I mean, if you are a criminal mastermind, of course, you're going to be breaking laws. So, you know, I'm not surprised by any of that sort of thing with, you know, a government using, you know, an exchange to laundromoney. Why not? It makes perfect sense.

Given what we've seen is commonplace with the authorities. Even touched Bitcoin, you probably had touched, even now, I mean, especially now, you would have had some Silk Road coins. So that would make you then implicit with the Silk Road just because you would have had it, you know, and Mt. Gox got the same sort of thing. Aimed at it. Charlie Schremm got stuff like that aimed

at him because if there's a, if there's a lot of much criminal enterprise, I don't even know alleged criminal and I've never even heard of this wacky exchange. But it's pretty hard as Binance to go and do the policing of the world. And this is the nonsense regulation that's coming down the line. It's basically most regulators, all they care about is KWC, right? They're like, do

you know the customer? Okay, what do you know about them? Well, not much. You only know their name, their address, and their age and their sex. But it's not much more than that. You do do some background checks onto major lists and stuff. You're forced to do that. So, but it's pretty easy for someone that wants to, if they criminal, they're going to do criminal things.

So they get around, go to Randall that. So yeah, I think it's, it's typical sort of pulling a straws, I feel. But Fincen's always pulling a straws. They're a weird bunch. It's like in Germany, all the regulators try to push it to the other regulatory bodies. They're like, no, that's not our thing. I don't know. It's not a, it's not a commodity or that it's not

a, it's not a currency or they just keep pushing it. Whereas in America, every, every regulatory body's like, yeah, it's ours. We want to regulate. They're obsessed with it. They just want to regulate the hell over. I don't know. Fincen, there, there are a strategy. So again, strange power, hungry group. Well, my favorite part about the story was Binance's response. Binance seems to say, oh, we've

had this problem and we want to help you. But we're also the ones that caused the problem because they just have this open valve and all the money keeps playing through. And afterwards, they're like, oh, we're sorry, we let that $700 million go through to that whatever kind of terrorist organization that might be. We have no idea. And for those of you keeping track in the

future, this is in the time period when Binance is still a company. I don't know anything about Binance, never been there, anything, but allegedly they're a company and they have an address and they have all this relations, but it just seems as well. If I was Binance and I was operating more like a pirate operation, then I could do anything I want and I could wander

all this money and I could get all the fees. And I really wouldn't care whose money it was, what color gray or dark or red or bad money. And of course, going back to this idea of money laundering here in the United States, they famously caught the gangster Al Capone for tax evasion. I think this led to the idea that you don't catch gangsters for gang

crimes, because often they go through intermediaries, you catch them for the money crimes in the 70s. They investigated drug lords and other things like that got more and more into the people's finances. And now it's to the point where they want to tax you for $200 Venmo or something like that. So we're d'awful. What do you think about the finance money? The finance money laundering and

bits later, which I think we can all agree with never heard of before. Never heard of. Actually, my first a bit different. When I see Finns and discussing bits later, how can they get to discuss bits later? I mean, why they are not discussing others big players and they're discussing this later. I guess that they do check everyone. And they they tracing the own business. They

aren't chained tracing. Yes. And the chain analysis and the and the lipstick and all these services. Yes. Provide some information that raised the attation beyond a certain level of acceptance. Yes. So getting this later, never heard it. And and 700 million dollars were most of the players were coming from scams. Whatever they define scams is I don't if they were or not. I mean, they can.

Whatever address as a bad address because they can as long as they say it is true. And it's not. Yes. But I mean, they can fake all the information I made you. Make you believe that it was really bad. About exchange for just for saying it. But but I think that if they get there, they get to be. It's because they are checking everything or several.

And and they're addressing some specific situations in which they have major concerns. Yes. I don't believe that they are not checking by not they're not checking. And they will say, no, but they have K. West. Yes. But it depends. No. And so so. Make a son is once they finish this. Are they going bigger or not? And they will address every other single transaction and every

other thing will be like money, don't ring or not. But. My main concern here is why byness was supportive active support is. And this is to what was happening with the finance also did their own analysis. Yes, really, this later was doing wrong or not. I don't believe that finance is the saver of anything. I do think that some minimum time it will also fade as

others. And it will be a big crisis and whatever also with that. But my opinions. But. I'm the role of I'm the god of of of of the good guys and the bad guys at the same time because we don't asset in money. We don't asset cash that we do trading only in crypto. So we're good for the for the crypto guys, but you're also good

for the for the government because they can call us and we are the major. So we know everything about everyone, every transaction. So I don't like very much the role that by man is taking this space. Not because of us because of how big they are. How big they will fail and because of what how they're positioned in the same thing. It is an incredible position.

It's like they're wearing a white hat and a black hat at the same time. And they're like, oh, hello government. We're glad to help you. Yes, all the criminals went through our system. Here's all their information. And so they're they're riding out the criminals, but again, they're the ones causing the crime or allowing it to happen allegedly. And so forth and that moves well to the

exit question. Which is completely speculative predict the future will buy an answer then to regulation and become a normal crypto company or is finance more of an idea or of a you know, fifth of November type thing that goes in the wind. Remember remember by Nance and they just keep serving these transactions Robert Robert Alan predict the future which way will buy Nance go completely speculation.

It seems like similar to Fiat currencies they have a certain lifespan and then they die right so perhaps finance will be yet another exchange that had its day in the sun. And then died I would I guess I would probably go that way that it'll probably collapse at some point for some reason. You know or or CZ or someone will just decide they want to exit

and they'll take you know a lot of money with them and don't leave your Bitcoin on exchanges ever. I mean this is one on one. Right. Absolutely. Josh EGala will buy Nance go the way of PTC dash E cryptocurrency mint pal and so many others. Oh list goes on doesn't it. Yeah, inevitably they will. And inevitably they will that Robert said he can't really. You can

only last so long. But but I think the clever thing that finance did it. It's built up it's it's chain it's chain so I don't know how good it is or whatever it's pretty seems pretty centralized for the speed. But I think that's it's kind of exit to if they if they're centralized unit gets shut down and they'll try to focus on their I don't know

pancake swap or whatever it's called to build that out. I don't know but yeah. Never. Hand cake swap sushi swap peanut butter and jelly swap. Redolful tells the future of finance. I also agree it was similar to what I said before. I think that at the medium range they will pay. It's not a wishful thinking it's a yeah. It's I would love it that it doesn't

yes. But to centralize to I'm not sure that it will. So I for long long I do expect they do but but if they do I don't expect them to become like the the God for all the for the governments and so I don't know I don't see a very long run for them but eventually happens. Anyway, any concentration in the space so. The wishful thinking

is if they survive yes. They become way less relevant in the space than what they are today yes I absolutely dislike having a such a big player in the space. So centralize so centralized and being such a big player so. At least I foresee why do expect a wishful thinking would be I do expect him way expect them way smaller and growing between it's a crack

and another. Definitely think CZ is one of the smartest guys in this industry and he's also like Dr. Doom though is a bit of like the evil genius smarts to him. So I don't know where I'll go in the future. I think if you look at the example of someone like Jack Ma or other people who have gone against major governments. They found out that the

major government takes away your freedom. So you might be a billionaire that founded all the Baba but if the government takes away your ability to go from point to point it's not very valuable. So well as Binance and allegedly, imaginary like you know GI Joe or something as a criminal conspiracy like Cobra or something. I don't think it's going to work. But maybe like Redolfo saying

dialing back this exchange. Keep being the one that gets bigger and bigger has all these problems. But each time Interpol comes calling they say, oh of course Interpol we'd love to give you everything we have about these people. Oh, which is a reminder you know not like Robert said don't keep your Bitcoin on exchange. Obviously if you're up to anything. Don't put your Bitcoin through an

exchange. But who knows these Hydra and other operations what they're up to. They needed to launder the money is the only way. Check out worldcrypto network.com for on this day in world crypto network on this day January 20th. We've had many videos. We had one in 2014 with mad Bitcoin's talking about the UK Bitcoin tax. We had Chris Ellis and Eric Paisley on 2014. In 2017

we had living blockchain art on you me and Bitcoin podcast. And in 2019 we had three episodes how to update the BIS client. Mimble Wimble and live mini sketch. In 2021 we did today in Bitcoin. And now we're doing this show. So check out worldcrypto network.com for many many more shows. Click on the on this day button on the left hand side. Genesis files for bankruptcy.

It could be far worse for Bitcoin. The Winkle Vi brothers are back in the news again. And there's nothing good about it. Genesis trading which landed their funds to Genesis trading which landed their funds to FTX has now collapsed. Will Genesis be able to hold off bankruptcy for the rest of the digital currency group and also worth noting. We talked about it many times. We're very

excited that the Van Eck Fund has invested in Bitcoin. The Van Eck Fund has been wiped out. According to this article they have lost 53 million dollars because they invested not directly in Bitcoin. But in Genesis and Winkle Vi trading. Josh, what do you think about this unlikely end for the Winkle Vi exchange? I don't think it's an end. They could bail themselves out of that.

But it is, I think it's been priced in that Genesis was going bankrupt. It's been talked about for ages along with FTX and and stuff. So I don't think it's going to have a major market impact. But it is the fallout. It's this contagion that everyone's talking about. Because FTX had their fingers and so many pies. And yeah, and sort of three hours capital and and

Luna and all this sort of stuff. So yeah, I'm hoping this is kind of, you know, just finishing it all off for last year's doom and gloom. And hopefully we'll see more and more people moving away from that centralized lending platforms. There's enough cool decentralized lending platforms that are out there nowadays. Where you can see that. You only need to trust the code. That's still a

trust factor. You need to trust smart contracts, which can be hacked. You need to trust the chains that they're running on. But at least it's kind of more on the cypherpunk vein of things of not trusting these centralized entities. And so yeah, let's see, let's see what happens. It's been amazing and tragic to watch the potential collapse of the digital currency group. Early on, I thought

Barry Silver, it had one of the best strategies to invest in Bitcoin and Bitcoin related companies. Now we've seen that they invested some of their money with FTX. And according to Barry Silver, it got taken advantage of by criminals and frauds allegedly bad guys in the industry. However, the Winkle Vi are accusing Barry Silver of mismanaging the company and so forth. What do you think about

the collapse of Genesis trading and the wider impact on the digital currency group? And concerned. I'm not sure that we will stop seeing some additional collapses. I think the wave is yet moving. Yes, it might bring some other down. The industry is very interconnected and investment is needed. I don't know. I mean, I'm sad, but I'm a holder. I don't trade on exchanges. So some things,

I see them like from the far. Yes. Also, I do my own events. I invest on my events with my money. So all the things that happen, yes. For me, it's like it's happening outside, but I do understand that the industry needs these players. That the industry needed an FTX being regulated and they needed to trust in them because they needed to do some money. And

here is something. I understand the role they play. Not for me. Yes. So for me, it's far too understanding as a holder. Yes, it's anything of these. I'm not sure. But I do understand that the industry needs these players. And I see with concern the impact in the industry, not in Bitcoin. It's like regulating Bitcoin. This is not a reformed Bitcoin. But the industry, the players,

the projects, the new idea. I mean, yes, this is this affects. And this is what's a supporter of several Bitcoin projects. And I think that's what I'm saying. And the industry. So yes, I would, I would be sad to see Barry Silver failing his, his project way more sad of seeing Barry Silver, Barry Silver, failing than Brian R from. Well, it's funny. We're talking I agree

with you. And I, I used to work at a DCG company. I've been very clear. I worked at purse. And one of the funny things is the whole time you're working there. And we need people to fund Bitcoin. And we need companies and to employ coders and marketers and other people to inform people about Bitcoin. But at the same time, you kind of like, you want

to say to the guy, you're like, you could just hold Bitcoin. You know, you're doing all this work. You're filling out all these forms. You made all these official positions. You built this big investment hired all these entrepreneurs. And you're like, you're kind of like, you could just hold on to your Bitcoin. And Roger Vera was also one of our investors at purse and other major

Bitcoin companies. And the same things got a truth for Roger. You're like, Roger, you could just hold your Bitcoin forever. You never have to do anything else. You don't have to even be involved in Bitcoin cash or any of this other stuff. But that was a long time ago. Arora, Alan, what do you think about Genesis filing for bankruptcy, the digital currency group and the continued

contagion of FTX? Well, you know, to your point, I would push back a little bit in saying that. If everyone just held their Bitcoin and didn't try to build companies utilizing Bitcoin, then perhaps it wouldn't have worked. And it's always easier and hindsight to say, oh, I wish I had helped my Bitcoin instead of doing X, Y, or Z. But, you know, so yeah, I mean,

I feel for. For some of these guys like Barry, I mean, granted he's been shitcoining for quite a while. And I think I haven't looked to be honest at the details of some of these. So I'm speculating a little bit here, but you know, it might be an issue of they had a lot of exposure to specific shit coins that, you know, wiped them out or

at least helped much more. I mean, because obviously Bitcoin had a big drop here. But if you're an OG Bitcoin company, you shouldn't be wiped out by these moves. So either they were, you know, re-hypothicating coins and trusting someone else, which is, you know, 101, not your keys, not your coins. And even if you're a big entity, I don't know why, especially if you're big entity.

I don't know why you would be trusting other people with your Bitcoin. But I guess maybe they were looking for yield or something. And, you know, it's a lot of this to me. It's sort of like we still have old, like pre Bitcoin and mentality about money that has not been sort of like exercised from people's minds. And so, yeah, they're looking for yield. They're thinking

about, you know, about these things that like, like you to your point, if you just hold Bitcoin over the long haul, you're going to be better off probably than doing anything ironically. But you have to actually hold it. You can't re-hypothicate it. You can't loan it out to people. And so people need to understand that Bitcoin is a fundamentally different kind of money. And I think

it also, you know, it sets up these big institutions for failure because if you have someone on the inside who wants to run off at the money, they can, you know, using the pseudonomy of pseudonymity, excuse me, a Bitcoin, they can essentially, you know, move that money, maybe, you know, drop out of society and wash it in some fashion and use it theoretically. And, you know,

in other words, it's much easier. I'd argue to get away with robbing an institution that has Bitcoin as its asset than it would be if they had gold bars or bank accounts with traditional fiat money. You know, so it's a riskier thing to hold large amounts of Bitcoin. And it's not going in an institutional manner. I think also because a lot of these companies sadly haven't

been using multi-signature or even really set up probably systems that they should have. So I don't know. It's a combination of things. And it will probably continue to keep happening because people are very slow to learn, but not your keys, not your Bitcoin. I think Robert, it's not only easier for them to have problems with someone running off with the money. It's also easier to convince

the board to say we need to take this Bitcoin and invest it and get that. Because that's really what this was about. That Genesis trading was offering a certain much for their yield project, for their loan project. That was passed on to Gemini from Gemini to Genesis Genesis to FTX. FTX was also promising fantastic yield. And they could have just held their Bitcoin, but instead they

went for more. And that's just a human failing. And it's also like you're saying it's about a time preference of whether you have Bitcoin today or if you have Bitcoin tomorrow, five years. Or 10 years, which leads us to the exit question, predictive price of Bitcoin against the magical predictor ball. Will the price of Bitcoin be higher or lower this time next week? Redolfo, you go

first. I hate Bitcoin rights predictions. Let me say higher because. All right, higher optimism. Josh Shagall, a more optimism. Yeah. Yeah. I think higher, you know, that one of the things that I saw with this whole DCG thing is that they're very close to the whole FTX. Tether stuff, suddenly billions of tethers being been pumped into the market. Bitcoin's going up. So. Something is going up

right now. Dolfo's already being proven right. Yeah. So it's it's. I just wanted to know which was the Bitcoin price. But I don't take it usually too much. Yeah. So. 22 to 100 just to remember next week to check and see if I want. Do we win something? No. It's just what. You win respect. That's it. Respect. Josh Shagall is higher, Robert Allen, higher or lower

this time next week. We don't want to hold Bitcoin. What's going on here, Thomas? That's a cheap show. Maybe we'll get you a doji coin. Well, you know me. I'm always it's always higher with Bitcoin. I mean, of course, in the short term, no one knows, but it's always higher. I'd like to agree. It's been going up the last couple of days and it went up

some more and everybody's really optimistic. What happened all the bear market stuff, but we must ask the ball, distant, true as to fall predictors the Bitcoin predictor ball. Will the price be higher this time next week? Don't count on it. Don't count on it. The ball is pessimistic. Moving on to issue four issue four Jamie diamond. Thanks. The Bitcoin supply won't really be capped at 21

million. He says there's no such sure thing as a sure thing, but five lines of crypto code come pretty close. We've talked about this before. People come to Bitcoin. They're brand new. They want to change it. And Jamie diamonds wave changing it is pushing this fudge. I mean, I'm not sure if I can do it. That the Bitcoin supply could be changed, which would affect everyone's

investment in Bitcoin. Obviously, we know how hard it is to change the Bitcoin code, but maybe other people don't. Redolful. What do you think about Jamie diamonds plan that Bitcoin could be changed? He's a. I think that every picture of Jamie diamond should have a clown nose and some painting on the on the face. Yes. So so I don't agree with the picture. Second. It's stupid

declaration. Though there's been a big discussion and they're still ongoing discussions on the tail emission. So if Bitcoin is 21 or 0.005 is being added later on. I mean, this is not the real concern, no. But but this thought about Bitcoin good or not. And the way he's supporting this discussion saying. I mean, showing and non-understand of things or do you know how to check if

this is true or not? I mean, it's Jamie diamond. I really. For me, it's whatever says Jimmy diamond is nothing I skip reading and really it's stupidity. But yes, we could change the Bitcoin price. But that things could happen. Where so things happening. Yes, it's totally different. I don't see us changing any cap of meaning. Bigger which is the core of the is the only big

thing that we won't change in the in the system. But if we do, it just shows that we are a live project and not a stone. And and if the whole community decides to do it. Okay, and it would be a fork and let's see what markets says of the fork. I mean, don't have a big concern. Though I don't think that the real relevant. Bitcoin.

Future the real asset, non-fog asset will have any concern about changing the in concern. No, any risk of changing the. The cap. I think you're right. Redolful mainly we have to worry about the potential of two forks in Bitcoin future. One in 2049 when the block reward becomes so small. It's like a rounding error. And another one in 2049. 2144 when the block reward completely runs

out. I think at that time, people will reintroduce kind of growing Bitcoin ideas. And then we'll find out if they're more popular. But I think the original Bitcoin stays the same. This is one of the best ways to do. Fud is you just describe something untrue about your opponent. And you just say it over and over again. Hey, when did you stop beating your wife? Oh,

I never started. When did you stop? And this kind of thing. There's no one to defend Bitcoin on these shows. James. And say, what if they change the number? Well, what if they change it? Let's go to Robert Allen. What do you think about Jamie Dimon and his belief that Bitcoin can just be changed? I think he's talking to his core audience, which is like boomers,

right? I mean, no one that I know really pays much attention to the news from these mainstream outlets anymore. And you know, the talking heads and the clowns. And they keep doing what they do. So yeah, he's talking to like my uncles. And it sounds like something they would say to me about Bitcoin because for them. And a lot of folks, I guess their age and

older. It's, you know, code is like magic, right? So it's like no one could actually know what the code does until you until you just find out someday in the future and just, ooh, here's Jamie. You know, and like, like from a movie, right? And his head pops up like you're reminded of the what is it? The Jurassic Park thing. Remember the guy. His head comes

up and, you know, he put some virus into the computers to, you know, open the gates. I forget whatever it was. But anyway, point being, you know, that's what is going on in Jamie's head. Cause that's as much as he understands about computers. It's this magical mystery code thing. Never mind that we have, you know, thousands of eyeballs auditing and writing and actively maintaining the code.

So yeah, he's just talking to boomers. And I'm not surprised. And millions of servers everywhere in the world and racks and racks and racks and all these while you're, well, they could just unplug the internet. And if you didn't know anything about computers, you'd be like, yeah, I guess that's true. I've unplugged my computer. Therefore, I could, the internet's just a larger computer, right? Is one

way of thinking of it. Josh, Shagall, what do you think about Jamie diamonds? Incredible claim. The Bitcoin magic number of 21 millions easy to change. Well, go for it. Change it. You know, in his logic, it could be then, then there'll be more Bitcoin. Yeah. Like it's, he's obviously not done any research on, even just like the blockchain, the block size was in Bitcoin. And how

hard it was to move that forward. Like it was almost impossible. And that's like seeing universally the scaling of Bitcoin is seeing universally is a good thing. But the nature of how to scale is super hard. And was a, was a deadlock was a, was a, was a stalemate for so long. So yeah, it's ridiculous. Just another bankster. Doing his banks the stuff. I don't know,

regulate them more. Exit question, predict the future. In the future, there's an archivist who's going through each one of these episodes and writing down everything we say, probably reading a transcript. But I want you to predict for them what will be the result? Will the Bitcoin 2049 fork against the very small block rewards exceed? Or will the Bitcoin 2144 fork again? And the zero block rewards

exceed, Redolfo predict the future. First, I, if I were to predict that there shall be a fork, they won't be when the fork is occurring, but some time before. So it wouldn't be the 20, in the 2140, it wouldn't be the 2049, 29. I mean, it would be some years earlier just to get prepared. But that being the case. It's the same of the predicting the

price. Yes, I don't do price predictions. So I don't care the number of Bitcoin's being mine. Yes, I do care about the price of Bitcoin in the case of that moment of how many of the mine is like when we were mining 50, do we had the discussion, should we have the discussion about what would happen when Bitcoin, when just three bitcoins are being mined every

10 minutes? Eventually at that time, we would have the discussion. But today, I'm not discussing what will happen when we go through three, three, twenty five or whatever. Yes. So having a discussion of when we go to zero point zero five bitcoins, are we going to discuss if the price is 300,000 dollars? I guess we won't. The price is 10. We might have this discussion earlier.

If the price, I mean, it's, it's, it's, this discussion is the same of guessing the price. And I can give you any answer. Yes. All right. Robert, I go and predict the future. We've also had more reports that the fork coming in 2042 is very reasonable. They only want to double the amount of Bitcoins from 21 to 42. That's genius branding. 2042 42 bitcoins. What do

you think Robert? I'm going to be optimistic and say it won't happen. And I guess my thinking is that we are, if you guys know this, this sort of idea of the, the cycles of civilization, you know, the good men creating hard times. Sorry, the good men creating. Good times, which creates weak man, which creates hard times, which creates strong man. I'm if you've seen that

it's a, it's a pop up. Or meme. We're kind of living through the hard times, I would say, or the beginning of it, perhaps, it's probably going to get a little bit dicey or in the next 10 years. So maybe we come out of that and people are a little more wary of just, you know, messing with things for the sake of messing with things. So

there might be a little more of a conservative attitude about life. And something as beneficial as Bitcoin, you know, um, I'm, I'm, I'm, I'm, I'm, I'm, I'm, I'm, I'm, I'm, I'm, I'm, I'm, I'm, I'm, I'm, I'm, I'm, I'm, I'm, I'm, I'm, I'm, I'm, I'm, I'm, I'm, I'm, I'm, I'm, I'm, I'm, I'm, I'm, I'm, I'm, I'm, I'm, I'm, I'm, I can't. Hopefully folks understand that. It's not

to be messed with. The other thing about this is that I think just. You know, technically, of course, changing a little bit of code is one thing but what about, you know, is that going to potentially, it's probably not going to be soft forkable in that way. I don't know for sure, but I would be surprised if you could do a soft fork that would do

that in which case, then you also have the, you know, like backwards compatibility issues and if there's a lot of hardware and stuff that that you know, can't easily transition to this version. So hopefully, in other words, hopefully the infrastructure becomes like so, you know, you Bitcoin with us that it becomes very hard to really change the protocol. It ossifies and so on. That's my hope.

Josh Agala the year is 2133. The Bitcoin block limit has not been raised for more than 100 years, but the block reward is going to zero and they are dedicated to raise and change Bitcoin. I mean, if it forks at forks, but there will still be the other side, which most people just stay on because why would you want to have the chain that's got double

the coins. It doesn't make sense. It just shows Jamie diamonds whack economic basis that he just doesn't understand the Bay, the absolute basics of economic theory is supposedly. Sorry, you know, and. Thomas we did a for the conference we did a contest of Bitcoin revolution. I mean, you had to write stories about Bitcoin's future like a futuristic ideas of big thing and one wrote a story,

which was very nice, which was called petalison. And this guy was mining the stars. Yes, with with these machines and and get trying to get the zero point zero zero zero zero zero zero zero zero. Bitcoin that was brought by this mining of the stars and that meant a huge amount he wanted to mine it for himself like a sort of mining of this. And so.

What would happen 100 100 years from here and and how relevant we did be a zero point zero zero zero zero zero zero one or the because not mining is not non feast yes or or the zero point zero zero zero one feast that came with mining without a without. The the Genesis. Well, without the the Genesis of the first no Genesis. The coin base. Yes,

without coin base. And I think it's is is is really guessing and science fiction stories are very nice in this scenario. But I really like what Robert said also know I mean. We should expect an intense we have something but we have. We have a different approach towards things as humanity. I also do hope that. Yeah, yeah. And I think the big the only folk that

really happened is more more decimal points. Probably happened. That's funny. Or decimal points could even extend the 2144 argument as we could then fork into even smaller block rewards that seem ridiculous now, but might be really valuable to them. However, prediction of the future there will be forks, but they will fail. It's the old collectors theory. I want the first version. I don't want version two

or version three. I want the original. You can't fool me and give me that crappy phony money that Bitcoin to or Bitcoin three year Bitcoin 33 whatever they decide to call it. I want the original. We're running out of time moving on to predictions or story of the week. Redolful. Are you ready with a prediction? Or a story with a week maybe let us know how

the law bit confwent this year. Oh, God unmute yourself. There. I don't have the win because I was in my I'm on occasions. So I haven't been reading much about the space. Sorry for that. But yes, I don't know if you said I could give a brief. Synthesis how it was for a bit. But this year. We had the Latin American middle conference and being November

such a bad moment for the space. We had 10,000 attendees. So I do expect. I do think that even though the things seem like they're going bad. Yes, in the space. There's a lot a lot of people still interested in finding how to start in this and how to how to become a player in the space. So I had a nice forcing of what will happen

in the crypto space in the very in the next years. I mean, I don't think that the bad situation and the ecosystem and the people losing money and the FTAs and all this. It's really what Bitcoin is or what the crypto space is. I think there's a lot of still involvement and creativity and willing of investing. Well, we are relaunching the show. Well, we've been working

on. We'll see when we actually relaunch. Although we are making good progress. So I'm happy with how the work is going. But for those who. I've seen the show originally we we are redoing it for. We're going to be launching it. Probably some of it will be behind a paywall. We're thinking probably to use Patreon. I know there's some Bitcoin and even lightning enabled products out

there that are trying to. Move in that direction, which of course I would prefer to use. But Patreon is quite a bit more polished and we you know we want to make sure we can get this out to as many people. When we do launch it. So you know, maybe it'll be a few more months perhaps, but I'd say definitely by the summer of this year

we will launch. And I'm very excited quality and every direction is way up. So better animation, better storytelling. I think we've really matured as a team. So I'm hoping it'll be something that the community can be proud of and can use to kind of orange pill people and you know get people who might not even care about money or things. Bitcoin related just the fact that

it's really a kind of a heart touching story. You know it might you know it might be something for a broader audience that could then get people sort of in the door a little bit to think about these things. So I'm real excited. It's it's going to be good when we launch. That sounds great Robert. I love the old show and I look forward to the

new ones. We used to kind of have like watching parties or get everybody together. We say oh you haven't heard of this yet and sit them down. We're in front of the YouTube and just watch all the episodes still were done. So I'll be great to see more family friendly version and get out to a larger audience. I know you had trouble before with a shadow

banning and all that kind of stuff. So definitely. Yeah. Josh Egold have a prediction or story of the week. Go ahead. No, but I do want to say I really enjoy the cartoons, but also you know people I say this any time you want to ask me what conference is a good it's always the two of them, which is red offers. The best conference in the

world and the second one I'd say is the it's a very small conference, but it's the Mallorca blockchain days also really really cool. So those two conferences are just awesome. But you always put such effort in to make a wonderful experience and you trailblazing too during the whole last two years you even made a conference that was in virtual reality, which is just just amazing and.

It's a tough game. It's probably one of the toughest games around you know i'm it stresses me having a party because i'm like will people rock up you know and and yeah it's it's a passion project for most people that organize you know proper, but you know not some of these industry style like industrial style conferences, which are just run by people that professionally put on

whatever conference you know fridge conferences. You're you put on quite a show. So the next one I'd say people get you tickets early because it's it's definitely worthwhile and culturally enriching you learn a lot it's always in a different part of Latin America. So I dig it's great. Thomas I sent you a link. I don't know if you want to to share this very very short

video. It's not about the conference. It's it was the launching of the that it's very nice. It's very reconfocus. I think I enjoyed it. It's very short. All right, we're gonna we're gonna play this one minute video. The last the last video we played from law bit conference also very good. It was like an animation. I had the moon and all kinds of stuff. So hoping

for good stuff here's law bit conf 10th anniversary. Oh. I know you know this is a tough issue for us. Can't so both things can't be true. I'm Gary. We believe in code and math. It's illegal. I think it's a wrap poison. It's a good idea. Honey badger doesn't care. Very bad weekend for big times for coin drop alive. I think it's so. This coin never

dies. The big 10th anniversary. Joy. Amazing. Amazing. That was great man. Honey badger. Perhaps even foreshadowing the World Cup victory. We did we did we did we did. I mean, all event was soccer related. Yes. And the T-shirts and everything was super related. And finally Argentina won the World Cup. So it was. A round thing. I think in four years I will do it again. Just

in case. Perfect timing. Perfect timing. Great video and a great conference like Josh is saying one of the best for a long time. I think one of the first Andreas videos I ever watched was from law bit coffee at the big Bitcoin letters in the background. I remember just totally blown away by what he was saying and pacing back and forth doing his Andreas things. So

thanks to everybody for joining us given us a thumbs up down below and subscribe to all the YouTube stuff. Push the bell. Hello to the chat and give us a comment if you're watching later on. Until next time. Bye. Bye.