This week in Bitcoin- 9-29-2017- Ethereum, ETC, Bcash, 2x, Bgold, Dash, Mexico

This week in Bitcoin- 9-29-2017- Ethereum, ETC, Bcash, 2x, Bgold, Dash, Mexico

Hello everyone this is adam meister the
bitcoinmeister the disrupt meister welcome to this week in bitcoin today is
September the 29th 2017 buy-and-hold be a 20% all right it’s that time again
this week in Bitcoin I’m really pumped we got an international crew here well
Juan Gault he’s coming from Mexico that is international Carlo is in the USA and
Mike gold Tidwell yeah he’s in the house for the first time he’s from the block
time podcast and I’m really excited to have our usual guests from around the
way that we’re still familiar with and a new guest so we’re gonna start with one
of our classics Carlo everyone’s been talking about all sorts of hard forks of
Bitcoin and maybe one of ethereal you are a man who knows a theorem classic
very well so you’re you’re familiar with hard Forks what do you think about the
current situation in cryptocurrency with some people very worried about the 2x
hard fork then some people very enthusiastic about the be gold hard fork
then young people just living off the past glory of the be cash hard fork what
is going on I guess I have a really boring opinion on it I was never really
too worried about the I disagreed with the etherium fork at the time and I
disagreed with the recent fork of Bitcoin as well but I never see it as
something that stops the technology from being what it is it’s just people
disagreeing and going their separate ways with open-source technology it’s
just kind of the other side of the you know there’s two edges to the sword and
this is one of them when you have everybody that can do whatever they want
people are gonna do what they want you’re gonna end up with Forks and an
evolution of the chain and may the best chain win or we end up with two
functional chains I don’t I don’t know or no functional changes chains I don’t
we know what’s the best thing and neither does the market and that’s why
the chain split and then the market will play out as a place so my opinion on it
is typically really really moderate and boring but I that’s just how I see it
and as long as no one’s being forced to do anything and everybody’s doing their
own thing and then Bitcoin as Bitcoin and I’m all for it so you’re not worried
about the matter no more about us at all then you’re saying you’re just like
whatever let it be it’ll do something if it happens it happens I mean kind of
what I think about these forks versus not Forks is just like when people
pointed to etherium or the recent bitcoin fork and then it Forks and then
the total market cap combined is more than it was before the way I feel about
that is even though the market cap of them combined is more my feeling is that
if there wasn’t a fork and everyone came to an agreement Bitcoin would have gone
to like 6k and I think etherium would be even higher than it was if that never
happened as then you have an entire community together and then the market
reaction as a result of people working out their differences as opposed to a
fork but I mean that’s history we’ll never know how that played out
and who knows but yeah it’s three there it’s interesting that you say that about
a theorem that was I mean you are you’re a big aetherium classic person so you’re
saying if it never would’ve split aetherium would have been better off and
you’re actually and your coin would not be in existence so you’re giving up
honest truth there that’s good well one god what do you think about are
you concerned about the 2x do you think that bitcoin the main bitcoin is gonna
have a some price problems leading into November and would you expect to happen
afterwards will there be a great recovery in December right you just a
quick heads up we’re getting a little bit of echo from you sometimes
I’m sure what’s going on there but all right no I’ll work on it yeah he needs
Carlo needs headphones yes okay Carlo just makes make sure you mute
it when we’re not on then yeah okay cool oh my god
take it away yeah I mean I’m not really worried about know about 2x I haven’t
really been worried about it since the Big Fork with Bitcoin cash because their
their argument fell through they don’t lend they don’t really have the moral
high ground anymore you know back then the whole justification was well we
needed bigger blocks and the the middle ground is bigger blocks flow segwayed so
everybody’s happy right that’s not really a problem now because the big
blockers left to be cash and so what is their justification now oh well we
signed a New York agreement yeah but the Bitcoin core people reject
that as as having been an agreement that they were part of right and so they
don’t have they don’t have the they don’t have the moral high ground in that
sense so at least they they have a weaker position and from what I’ve been
seeing you know a lot of the parties at least some of the miners are pulling out
you know some of the the big companies are saying no that was only if it
happened before the Bitcoin cash fork so you know yeah apparently they’re they’re
still gonna fork but I don’t expect it to be a particularly big fork it I don’t
expect it to be bigger than big foot cash either because cash is said about
ten fifteen percent of the market kept a Bitcoin it’ll be smaller than that
possibly right and if it’s bigger well I guess that’s interesting well we’re all
getting a dividend but I’m not really I’m not really worried the only thing
that the only opposition like ethical position that I have it in this Forks is
anybody that Forks Bitcoin live like Bitcoin cash did needs to implement that
strong like two-way replay protection because like that’s the only thing that
I say if you don’t do that you’re evil like that to me is the line on the sand
and in Bitcoin cash did it properly they implemented to a replay protection if
you don’t you can hack exchanges you can really mess with the network you can
destroy like mess with the confidence of the other of the bigger changes so
that’s the only thing that that I’m that I would be concerned about but I
wouldn’t expect them to do that because as soon as if they didn’t implement
replay protection you would hear about it over the news and then big hook for
which is like basically you know isolate themselves or like isolate that system
from I don’t know what they would do but it would
something out somewhat well the 2x people have not agreed to replay
protection yet but again I also think they will at the last minute because it
would be disastrous Michael welcome to the show what are your opinions on all
this and have you heard about this be gold hard work that was mentioned to
meet the news this week not not until you told me it was a talking point of
the of the podcast they it but uh I just kind of see I kind of see all these
ideas we take the existing UT Exocet from Bitcoin and then also using the
word Bitcoin and the name of this altcoin as as like the new new way of
doing an altcoin it’s like the new it might even in turn being like the new
york c 20 token so like this is just like the new thing that people are doing
in my opinion and i think it’s gonna happen a lot more because if there’s
money to be made people are gonna keep doing it so i just see this as like a
natural progression of what’s what’s happening but it kind of makes me think
cuz I haven’t listened to a lot of your show I don’t but I have listened to some
and one of the ones I did kind of like I was like whoa well you’re talking out
like Finley Forks with somebody know is if it has replay protection is it
considered a friendly fork if it takes existing utx oh so yeah I I believe one
of the main things you’ve got it you got to be a have replay production if you
want to be considered a friendly fork I said so you have to admit that you’re in
and you have to be comfortable with the fact that we aren’t gonna use your
proper name and say call it Bitcoin X or whatever your name is they’re just gonna
call its be X I think it’s just you’re you’re you’re just in the people and I
believe from what I’ve been told with the be gold people they say they’re an
alt coins but to X and be cash they’re no they have you said they’re not so I
think a lot of this is very subjective and it is an all coin until it isn’t
kind of idea where if it’s really up to the users to decide kind of go in taking
up a jogger egg max well it’s it’s really the users
there’s that decide what bitcoin is ultimately which is kind of weird
because I wasn’t always a bad thing and but uh a lot of this is just on a
spectrum but to be honest it’s kind of scary for someone like me who’s been a
Bitcoin for a while that there isn’t an easy the fact that oh Bitcoin I mean
there is but there might not be which is kind of scary and I’m imagining people
coming into this space being even more scared because now I mean obviously we
have bitcoins before August first so all these sports don’t really bother us
because we can just work on projects and not really worry about what’s happening
we know that our UT Exocet is going to persist all these different you know
pretend legitimate project scams whatever it doesn’t really matter but
for people coming and buying Bitcoin for the first time I think this is very
scary because what I have to buy a Bitcoin on every single chain to make
sure that overtake Bitcoin and now that’s the new Bitcoin I mean that’s
kind of crazy to think about buying multiple types of bitcoins so I think
it’s very confusing and I don’t really like it and I think that we also
shouldn’t underestimate that point something like Bitcoin cash not st.
Bitcoin cash specifically but something like Bitcoin cash starts getting wallet
support services like bitpay start supporting it and the market value of it
goes up and the users start deciding hey I want B cash because for instance I run
a meet-up and I you know our donations would be cheaper if people send us B
cash instead of a point because right now if I recommend people paying for
sponsorship money and increments of three hundred dollars because you know
spending twenty bucks as a donation tent like dude percent of that whatever at
the time you know maybe ten percent Oh a lot of that is eaten up by a fee you
know a large percentage so I you know it’s a slippery slope and uh in
something like B cash taking over it’s like one day it’s not Bitcoin and the
next day it’s like wait a minute this is being used by more people more users are
putting money into it more miners now are mining it because you know there’s
more incentive there and that’s kind of a scary thing to me so I I’m kind of
like I think it’s I think it’s realistic that maybe one of these things can take
over I’m kind of hoping it doesn’t I’m hoping
that Bitcoin kind of stays Bitcoin and then we change it how the users want to
be changed not like before taking over so okay there’s a very honest opinion
there you do I mean you have some legitimate concerns and at the same time
you did say I mean the users define what isn’t all coin what is the real Bitcoin
and as of today it’s pretty obvious that the be cash is the alt coin in terms of
the confusion there’s yeah it’s on for a lot of people add to the confusion to
there they’re people purposely adding to the confusion I want to go back to Carlo
about that what do you think about be cash what do you think about possible
confusions what do you think about what Michael said um I guess I kind of have I
agree but I kind of have a slightly different opinion on the users actually
deciding that it’s Bitcoin I think it is the users but it’s going to be the users
not even knowing so for example I think the swing the big swing is going to come
when a large-scale business with millions and millions of users
integrates Bitcoin or be cash or whatever it is or whatever chain it is
into their product and you’re gonna have millions and millions and millions of
people using the Bitcoin network and not necessarily know they’re using the
Bitcoin network so I think that is gonna be the greater push for either Bitcoin
or be cash or whatever you know cryptocurrency chain it may be no one’s
hit that you know killer act as they say so I think it’s that killer app
ecosystem and as that develops it’ll be more users on the network and more
people using Bitcoin the way they like to use it but it’s going to be really
businesses determining okay this chain helps me accomplish my business goals
for my user base of 10 million people better than XYZ trading I’m picking this
chain and this is why boom boom boom boom boom and that’s how you’re gonna
have this massive push forward and you know there will be the one true winner I
suppose all right well one what is your what’s your
opinion here on the B cache stuff fear is it taking over is it just an altcoin
i donnelly don’t see it taking over you know and I’m sad to say that you know I
like Roger versa as a person even though even though I think he’s taken I think
he’s taking these approaches that in the wrong way in a variety of in a variety
of sort of issues right I think he’s been he has been clear about anyways so
that that kind of drama is over but I don’t really I don’t really see I’m not
really concerned about it I think you know like like the best case scenario
for big cash is that you know wallets like let’s say coinbase or mycelium
which my ceilings are gonna do it air bits you know like the top wallets
integrated bacon cash into the Bitcoin wallet and so people would have like
they’re a Bitcoin cash thing which is gonna be its own thing and then bit it
well the normal bit for Bitcoin core and then become cash and and that that
somehow makes sense right and I don’t really see it making sense if the
lightning networks actually get deployed which is a significant is I mean it the
the technologies being developed said what is in you know it’s like what is
being adopted but you know and if the lightning networks to get deployed then
it’s it’s apparently what people are gonna have you know very cheap trend
like no transaction fees just one entry one exit and then a bunch of sort of
kind of checks that you can just pass around I have no transaction fee you
know I don’t see I don’t know I don’t understand how there’s lightning also
gonna be deployed right it seems to me like that’s a significant infrastructure
or it seems like there’s like a resistance there that I don’t see how
it’s been there could be overcome but but if they you succeed then big hunk a
she’s not gonna really have particular advantage and the other thing is like
little cash is competing against 7,000 cryptocurrencies behind it and as
far as my fundamental analysis – is much better than Bitcoin cash they have they
have a lot more money coming in every month or how like two point five two
million three million dollars a month of budget they have a sort of more steady
skinned ability plan which is also on chain they have better privacy they have
instant transactions or something like that right so like uh you know
really see I don’t really see the fundamental argument for it other than
the fact that they are kind of attached to the Bitcoin infrastructure and so
it’s a but it’s up to the wallets in a sense to decide whether or not they’re
gonna let they put cash through the through the gates and that’s the
significant rework of the front end of wallet so I mean I don’t really see it
happening or less unless you really caught really caught a lot of a lot of
users and you know honestly of what I said Bitcoin transactions
I generally send them with like the lowest transaction fee and they usually
almost always get in you know within like 10 20 minutes so I don’t really see
what the transaction fee problem is I think that to some degree the wallets
kind of like have a a a some sort of algorithm like for example mycelium used
to have like this algorithm where the fees were like relative to something
else and so like the notice transaction fee was like $1 for a while but now they
change it so that you can actually set it more manually so you can go up to
like down to like 50 cents or 40 cents and so you can just pick it and it still
goes through right so you know before before you assume that the transaction
fees are actually really high try sending really low transaction fees and
seeing what happens yeah there’s times when that when the memory pool is full
they remember memory pool is full but that is not all the time and it does
fluctuate right in so you know I’m not worried about it it’s it’s been a pretty
empty lately and people have been sending some pretty cheap transaction
very low transaction fees and and it’s unfortunate that some of these wallets
just said it automatically high so people knew it manually go in there and
change it uh live viewers pound that like button I haven’t said that yet so
pound that like button if you like that I haven’t said town that like button
yeah all right Michael any any conclusionary thoughts with that
because people didn’t kind of respond to you there I did thought you might have
something else to say let’s see yeah one thing that Carlo brought up was he
thinks users sorry like a major killer app business use case is really going to
decide what which Bitcoin ends up being you use based on like if they used I
think that’s that’s kind of interesting I don’t really know what that killer app
is I think the killer app is mean the value transfer at least at the
moment and I think ultimately we all decide on what which game best suits our
needs so I would say right now no business is really in that position
it’s besides maybe like like a bit paid type service and I know bit pay is
bullish and there they’re gonna start implementing Bitcoin cash so that’s its
kind of scary then if you’re if you’re not paying a Bitcoin cash so another
thing were you saying wha were you saying will not support the coin cash
sure they will I don’t see them doing it I’ve talked to okay what else you didn’t
come for who you talk to yeah well I was talking to one of the
the guys that used to be kind of like they’re there a head of public relations
or something in and I’m like I’ve joined their telegram chat and kind of talk to
about that and the answer I’ve gotten is like if they don’t have they don’t see
it happening like they’re just said wait and I don’t have to change your opinion
recently but at last I you know when I was looking at in the past two weeks we
should razza about this because I think this Bitcoin catch stuff is is being
underestimated by a lot of people and I’m not saying I like that I’m just
saying like I think it’s being are estimated they’re interesting and an
interesting point is so I did a talk on lightning Network I know you’re bringing
up the like okay you know lightning Network will pretty much get like a
bunch of free transactions but there’s a lot of game theory a lot of attack
there’s a step in and around large fees so I thought necessarily a big blocker
I’m a realistic blockchain er walk side has or effective block size because you
know obviously seglet lets you do more transaction so effective block size it
needs to be bigger to support honey users it really depends on like really
anything like how many potential identities doing you want to support
because I mean a website called ideal block size comm that really goes over
this it’s like just straight up the map and you can treat every single
transaction in a block on that calculator as an in and an out of a
payment Channel you know like a lightning Network and
you’re really looking at if you want like no millions and tens of billions of
people or whatever you’re you only get like one transaction per year so it’s
kind of like a weird idea where you could be screwed over by a by
ineffective hubs or middlemen and Lightning Network where they can hold
your Bitcoin ransom and eternally be they actually hold the ransom bill
like maybe network works is you you do like an in-law time so so I might set up
a payment channel for one year and well maybe network so that means in one year
no matter what I get my Bitcoin back but I have to wait a year if I want to close
out earlier than that it’s it’s potentially I would have to pay if
they’re not good actor I would have to you know clear up the transaction on the
on the blockchain so I would have to pay a fee no if the fees are so high that I
can’t you know afford that and they’re they’re screwing you over so it’s it’s
it’s interesting if there’s like interesting attack vectors if the fees
are really really high in a Bitcoin starts can you used by let’s say I don’t
know 20 30 or 40 million people like actively every day then you know the
fees are gonna shoot up and you have to use lightning Network you’re gonna have
to use all off-the-chain kind of transactions when you when you move
Bitcoin around and feed to open up the payment channels $100 which might not be
a big deal because that’s like your one-year subscription to the Bitcoin
blockchain and you can do as much as you want with the the Bitcoin you block
though but if if you know to you and you want to clear out because you have bad
actors that’s like you’re won’t one silver lining is that clear back out to
the blockchain and if you can’t do that then those people are essentially only
your Bitcoin ransom they might be asking for money what kind of bad actors would
you have though because I mean it’s a 2 of 2 multi signature lock with with time
lock verify like the other people think what what can the other party do that
they could stumble out they they they would not like not they did not sign
they’re part of the of the transaction to where you would have to wait that
long time so if the in lost time is a because obviously if Bitcoin fees are
really hot because I would love for Bitcoin be used by as many people as
possible so that means fees are really high which means you want to do a lot of
your transactions off chain if you which which would then incentivize you to do a
payment you know for a longer period of time versus like once a week or two
weeks here two years or something so you want to have to keep spending that fee
and you less congestion on the network so but the problem with with that is if
if the if the hub that you use or if the people that use between are bad actors
or you know not gonna sign off there at their part then then you’re you’re kind
of screwed you have to wait the in locks on which could be a very long time so
they’re soon so so essentially if fees are lower then it’s not a big deal for
Joe Blow to clear out this transaction just publish to the blockchain to get
his bitcoins back he pays the fee but that’s not a big deal mister fees are
really higher than that that is a big deal yeah I don’t know what what
incentives they will have for that but maybe they maybe there is some some
incentives maybe there is something theoretical problems I’ve never felt you
know super confident on lighting networks it seems to me like like it’s
you know like I just have a have a hard time seeing how they’re gonna how
they’re gonna get deployed and and it’s probably kind of gonna come down to the
wallets like the wallets are the ones they’re gonna have to sort of implement
it in the background or just kind of put it in there and and start introducing it
to users but you know I mean to that end it’s like that’s that’s definitely one
of my kind of hesitations around the the scalability plan but I don’t know that
Bitcoin cash is going to be necessarily a a sustainable solution and if you know
about like where beacon cash is at right now if you know what their development
roadmap is or like how their distribution is going or anything like
that I’d like to hear it you know but that’s one of the reasons that I hold –
in the you know I have a little bit of Bitcoin cash and I’m kind of looking at
other outcomes because yeah at the end of the day the game has now been won and
and and we won’t really know whether lightning networks are actually the way
to go until they they really try to deploy them right and so yeah you know
hedge your bets right nothing is kind of 100 percent
I’m not worried so and then where is Miss wisdom of crowds
I think it’ll get figured out like think about look look how we got to this thing
it started out as a zombie of a mess of a cellphone you know it’s like the the
briefcase that you carried around Bitcoin is gonna look so different in
ten years or whatever coin it is is gonna look so different in ten years I
I’m not saying it’s gonna be Bitcoin or it’s not gonna be a Bitcoin I’m just
saying that whatever blockchain it is that’s dominant in ten years this is
gonna be so insanely useful we can’t even imagine what its gonna look like
like who could imagine this 15 years ago no one I couldn’t I mean I’m not done
that is bright maybe as a bunch of other people but I had no idea this was gonna
look like this when I was walking around with the next Hill that I push the
bottom to talk like a walkie talkie I thought that was so cool
they were so dumb I just wish like a lot of these projects we’re going on Bitcoin
like for instance I’m a big fan of Drive chains with pulse torts and I would look
for just all these pet projects and all these experiments to just be done in
Bitcoin so there’s no confusion watching it and you know we can focus on
lightning networking at Tomic swaps between drive chains and main chain and
boom there’s nothing to think about because as if you buy Bitcoin on the
main chain you know you have it for the whole ecosystem you’ll have to worry
about which ones to buy it well that’s what that would be my a dream in this
guy where although experiments and projects are done which drive I wanted
to touch screen infinity display in 2001 I wasn’t gonna get it it’s like I’m just
saying it it’s gonna be really good it’s gonna be and also what I think’s going
on right now is like just kind of like the early days of you know the Internet
when it wasn’t ready what did you get you got a oh well you
know it just wasn’t ready so it came in a nice little prepackaged you know
internet diet Internet you know you have your mail you have
your instant messenger and a few different places no or whatever so I
think we’re kind of in that a o/l phase of the internet of blockchains where
you’re going to some silo a lot of different siloing
effects that are going on and people are kind of just using it to raise money a
little bit at which I don’t think it’s a bad thing it’s the other
it’s not such a straightforward comparison though because people are
making their own network works so like I mean yeah but with the internet with the
internet everyone was building on the internet not people I mean there weren’t
like too many people saying like hey are using Internet or Internet to X it was
just Internet and then people are building apps on top of it so it’s
different minutes well it’s not feel Siri for like like you comes along I
want everyone to use the same network there’s no I don’t seem to be that
different like like you could you could say that bitcoin is like let’s say let’s
say the bitcoin is like a big website right like just AOL for example right or
it’s well let’s not say that it’s AOL that’s a bad comparison but it seems
like atomic swaps are coming right I think they’re coming in and you know I’m
as far as I’m looking into it and I’m trying to understand it better I mean
I’ve been keeping an eye on it for a while if I Tomic swaps happen and and
and people start building like sort of automated order books for atomic swaps
across blockchains then it’s basically like the networks are gonna get merged
through this protocol that’s sort of like HTTP right aware you don’t need a
third party in the middle you don’t need a high-volume sort of node in the middle
you just sort of you just have kind of order books and and and distributed
wallets and you just sort of match trades with and it’s gonna become like
the next level of the centralization the real decentralized cryptocurrency
exchange is gonna happen like it’s actually gonna be peer-to-peer instead
of just peer to it’s changed to peer type of thing right so know that you can
do peer to peer transactions in Bikram but it’s so easy to go through an
exchange because of the volume right so like if it’s atomic swaps happen in
Komodos one of the configurations that’s working on it Deak red is working on a
light one is doing some stuff with it if atomic swaps work then – as far as I
can tell it’s just gonna be a big tree with a bunch of sort of branches right
and the branches are going to be different cryptocurrencies that connect
with and people gonna have their own little feature
right like oh you like you like this thing about this cryptocurrencies
right you’re using basic attention token for example you want to swap to Bitcoin
okay boom atomic swap right you know assuming there’s volume it should work
so I’m not really I’m not really I’m not really worrying about the silo silo
effect too much as long as these kind of atomic swaps become a thing if they
don’t then it that the centralized exchanges are gonna be sort of mission
critical and that’s where governments are gonna get in and it but they’re
gonna start sort of you know that that bad could complicate things that’s been
an issue that I’ve seen for a while and you know a lot of people have kind of
talked about it some anyways yeah that’s that’s that’s what I’m worried about and
that’s what I think everyone should if people are gonna worry worried about the
people with the guns bring up you bring up an excellent point that can segue
into something that you you brought off off air and I don’t know if this is
necessarily true there’s a little bit of a rumor going around it’s us do it
River magic it’s a logical rumor we all know that China is cracking down on big
on Bitcoin I mean they’re an own cryptocurrency and it’s it’s definitely
has a lot to do with capital controls they don’t want people taking our wealth
out of the country South Korea is starting to regulate more one would
think also because the market is just on fire there and they’ve gotten they’re
making ICO is illegal apparently but you have another reason another theory why
they the government’s might be not big fans of cryptocurrency so so take it
away Carlo you’re muted you’re me yeah yeah
so yeah this is complete rumor mill type stuff but I’ve heard chatter that I
don’t know the specifics that there because of all this North Korea us you
know or North Korea world stuff going on there were some sanctions that then
snowball into people looking into things which snowballed into people looking
into things North Korea was doing and South Korea as far as cryptocurrency and
all that stuff is going and laundering money who knows
and then that snowballed into hey this has got to get cleaned up which
snow balled in two regulations which snowballed into everything that’s going
on right now between China and South Korea because it seems a bit abrupt and
also this kind of stuff seems more expected from China and South Korea it
seems a little bit more out of the blue of the last few months since they were
so you know all about crypto and icos and all this stuff or everything I just
said is complete nonsense but it’s fun we could talk about some country in the
future we’ll say we’ve got to crack down because we’re scared of a rogue
government like North Korea laundering money through our country through this
nasty crypto currency that that’s out there so I think even and I don’t know
if it’s true or not that I mean I but it is an interesting thing to think about
in the future what governments might try i think that’ll happen yeah what why do
you have any opinions on that you’re a big libertarian type of guy big
anarchist yeah I mean III I don’t really I don’t really know whether it is sure
or not it seems like it would be something that that governments would
consider I don’t you know I hope that they can’t do anything about it I hope
that Bitcoin it stays they centralized enough that that Chinese users for
example after they’ve tasted they’ve tasted the Bitcoin you know and they’re
they’re they’re getting a taste for it they they like the money they made
they’ll be like you know what okay well so I can’t buy Bitcoin exchange but I
can get pay with Bitcoin if I just you know discount to my employer and then
their employer is like hmm I can do the same right I would love it if it were
just rippled effect like that and the point where don’t understand do anything
and that’s one of the reasons that I like Bitcoin core is that it keeps the
blockchain small enough that people can actually do their own a validation of
the total supply etcetera so um yeah I don’t know I don’t know if if it’s an
issue right now again just South Korea is only binding bending I co sort of
look cracking down and I see oh it’s not necessarily on Bitcoin so it doesn’t
seem to me – doesn’t make sense to me just yet but at some point it’s gonna
become a problem for sure right it’s only North Korea is around by then the
right things are going we don’t that’s necessarily a guarantee but yeah I
there’s always gonna be jurisdictional arbitrage unless one world government
really takes off and I don’t think I don’t think that’s gonna happen
wait thanks Ron Michael do you think North Korea is going to be the future
boogey man of cryptocurrency that countries are just going to yell out
North Korea and say we need to make this illegal because they’re doing that’s how
they launder their money kim jeong-hoon is Satoshi that’s my only comet ever they say is is
Islam aw and we should listen to everything they say and if they have any
suggestions on protocol enhancements we should lobby for it so pal bat like
button everyone that was awesome all right let’s uh since we got Carlo in the
house and there are a lot of etherium classic fans out there Carla what’s
going on with theory and classic there’s some big event coming up in November the
price just jumped some what’s what’s going on you’re in talked a little bit
about io HK all that good stuff yeah definitely so there’s an event coming up
in November let me try to I want to pull up you know
what I’ll do I’ll send you the link to the splash page that everybody can join
yes in Hong Kong and you know it’s gonna be a bunch of people there that are
representing the etc’ community io HK people from et Cie dev a bunch of people
that are also representing from Hong Kong and China and the Asian region so
we’re pretty excited to get that together this was an event kind of
carrying on from event we wanted to do back in February but there’s a whole
bunch of regulation crackdown and people kind of put their heads down and it got
postponed and we always wanted to do an event since then and just kind of get
getting pushed back and push back but now finally the ball got rolling and
we’re gonna be doing it November Hong Kong and I’ll send you a link to this
flash page if anybody wants to join the page yesterday and it was like working
right or saw so hopefully it’s fixed I don’t know okay
yeah but it was it people should check out the video from yesterday’s we were
on last night I did talk about the the event there a little bit and you can
click on the link now it’s important to note that it’s IO IO HK is upon this on
this event correct it’s between IO HK digital currency group which is very
soul Birds group and also et Cie dev which are some of the core developers
that are kind of keeping everything you know from the infrastructure wise going
and stuff like that now the reason I think there’s no etherium classic
putting on this event what I why not what I’m trying to say
way into is Wan got here mentioned – having events
– itself has been putting on events worldwide and as one got pointed out
they they have money there the way it’s set up over there they have paying for
marketing and there it’s very unique and some people do not like that at all some
people think it’s really awesome I want to hear from Wan got more about that my
god also said that he’s like – more than B cash because – can fund itself but
remember that now the B cash has some people associated with it that have a
lot of money they got a and the rumors that always circulate around B cash is
that that king of the trolls out there in Japan that he can you know he’s got
so much he’s like the crypto billionaire he can do with it he can pump B cash
whenever he wants to and that that might be the plan so I just said a mouthful
but one got take it away your thoughts on – and and all that mm-hmm
yeah I mean and money runs out eventually if you if you invested in
properly millionaires have lost their money over a few years on a regular base
or like people that win the lottery and stuff you know if you if you if you if
you like you money can go a lot faster than it comes in let’s just say that
right so as far as who can outspend who I think I think – you know – it’s a
pretty strong like it’s it’s it’s quite the animal man to to
something million dollars a month to put into you know a variety of projects the
question to me is whether the these sort of proposals are actually you know
beneficial to the cryptocurrency a lot of them are marketing but why is a lot
of them are are some of them like that they’re having this big event coming up
soon that’s like it’s like a – conference right that’s probably gonna
have some good effects because people get to get to meet each other and
network and sort of talk outside of the cyberspace which is usually very very
effective communication and they also get to people actually have a direct
choice about where like who’s the development team of the recruit the
currency right they can just sort of stop voting for the the submissions that
pay out the core team and so it already has this kind of competitive development
sort of teams strategy that bacon cash is trying to implement in what seems to
me like a more complex way but I have to look at it more Arab cash in the next
few days so you know I’m I’m definitely I’m definitely I definitely feel a lot
more confident about – than I do about big cash but you know speaking of –
right now so what’s happening up for – is they have they’re gonna be releasing
the test set of – pay evolution this sort of queue for 2017 and then –
evolution the wallet line that is going to be released on February the 18th
which is supposed to be like then they huge the next big thing right like it’s
supposed to be revolutionary as far as the user interface supposed to be super
easy to use just you know basically for newbies right if they can pull it off
and it supposed to be client-side but also be able to use the dark Center
normalization and they said flex action all from client side without having a
full copy of the blockchain so if they can pull it off in in a secure manner
and I’m sure there’s gonna be a lot of a lot of media focus around that when it
comes out then that’s a big deal that’s a big deal because it’s gonna be
easier to use and have more money like features than Bitcoin and Bitcoin cash
you know sue me that lightning networks and pull out a hat a rabbit out of the
Hat so you know I’m not saying that it’s gonna overtake Bitcoin this next year or
anything it might be years and it might never happen because network effect is
like ridiculous but but I eventually feel strong about it and yeah that’s
what said that’s what I know what’s going on with that for him all right
Michael Tidwell I know he’s got some things to say perhaps about
centralization perhaps about proof of work perhaps about you you’ve got some
thought and altcoins in general take it away take it away we’re just trying to
read your mind as you got a big smile no I’m just trying to figure out like
what’s going on I’m here I thought this was a Bitcoin podcast like we’re like
shilling – you’re wearing a light clock Mike read Bitcoin sure I’m just I don’t
like is this like an all things block this is just a shirt bro it’s just a
neon Burning Man all cryptocurrency Bitcoin Meister I am it’s the big it’s
the big kahuna but there are people out there they seasons happen during the
week people have brought up we had a guest stone last week talking about this
– of them I want to it’s my turn to shill my favourite cryptocurrency I
think the dogecoin project has a lot of aspects they’re taking off they’re going
to implement a lightning Network atomic swaps zero knowledge proof coming up in
November I think they’re they’re coming up with their own Olympic team they’re
making their own country and there are they’re going to compete in all the
Olympic sports and they’re going for gold in every and every category and
then Olympics so I just I just wanted to be he is my turn to show my coin so I
just don’t want to miss out so well yeah we but we I Bitcoin maximalism
is I mean I’d I tell people only only buy Bitcoin I can’t say to buy anything
else but many people are interested in and it is funny to see the reaction from
people when you bring up – on this show you get the craziest you get the
craziest comments left so you know it’s it’s it’s a big world out there we
cannot be can’t ignore the altcoins and uh but no
yeah so so I agree so so I’ll know if you notice I run like the biggest
technology me up grouping it well I know and we do so by I run a blockchain me up
not a Bitcoin meetup which means about forty percent of the time we talked
about all coins about sixty percent the meetup serves strictly Bitcoin based but
I try to keep it always technical to where nothing is misguided to the point
where yeah my leadership team knows this we don’t try to seal anything we don’t
try to say hey guys all this great stuff is happening we talk about what’s
happening now what’s you know what’s going on so I think being very careful
on talking about other projects even Bitcoin we don’t show that either it’s
just all technical so III I’m not opposed to talking about other projects
I’m kind of kidding so no no but I also see your your you try to be they’re not
biased at all I mean the way you were talking about be cash before I mean you
really you’re trying to you’re good that you’re good with it because everyone
does happen to play here everybody let’s be cool I’m not a fan of like kind of
yeah but now you give it a well I mean I like to consider myself realistic so I
have Bitcoin cash I’m a holder because I’m I have the UTF so set so if it goes
up I benefit but that doesn’t mean I’m a fan of it so second so one has – though everyone’s got a different strategy in
this world everything I tried I try to bring up give everybody a little bit of
a you know everyone get a voice there I mean people go crazy when Amanda
Johnson’s is she even working for – anymore I think they of course I can
just save you Amanda Johnson I mean it’ll also maybe a hundred new viewers
on here but you know half of them will be just having a conniption fit it’s
unbelievable okay anyway one let’s let’s go to you I aren’t you’re in Mexico
you’re not in Mexico City so you’re cool is there any you know Bitcoin specific
news coming out of Mexico you wanted to share anything like that anything unique
we try to keep it uh get country-specific things here
sometimes like last week with Venezuela and everything yeah I hadn’t really
heard anything particularly like nothing has fur that I come to me I haven’t been
paying a huge amount of attention so I was just traveling for about three
months I was in the States in Canada and so I’m not aware of anything big I know
that there was there especially the big earthquake recently in Mexico and there
was some sort of bad first I believe there is one Bitcoin charity that was
helping them out and you know um but yeah so so that there’s some stuff
happening for sure in the background you know but you know everything seems kind
of stable everything seems fine here I haven’t really seen or anything big good
or bad in Mexico lately the big money okay this is good good nothing nothing
too exciting going on down there Carlo we’re getting close
we’re getting close to the end here is there anything you’d want to yeah yeah I
do have a question for for everyone I I think the future of crypto or blockchain
whatever falls into two categories or people fall into two categories do we
believe in we are you believe in the Internet of blockchains or one chain to
rule them all and that’s I think where people’s different views and feelings
and holdings and what they hold and what they have what they buy what they sell
it all is a factor from that belief whether you think there’s gonna be an
Internet of blockchains or Lord of the Rings one chain to rule them all so I
what align what is either but he’s smiling I’m gonna yeah Michael yeah no
no I I think I think you hit the nail right on the head Carla that that’s
that’s that’s the million dollar question and I’m of the opinion this is
it’s it’s hard to analogize this kind of stuff to other things because this is
literally a network and network effective is very important even with
atomic swaps I mean you’re still relying on markets to facilitate those atomic
swaps it’s not the same network so I I am of the opinion one chain to rule
them all that’s what I would like I would like to cease I had changed
through drive chains all storage projects totally Schilling that project
it’s not coin so check out check check out truth coin and check out a drive
chain is I have also done a to our whiteboard session with Paul explain how
it works so you can YouTube maybe you’ll find my video
the website is drive chained info or something like that right yeah so um I I
am of the opinion one chain to rule mall it makes things simple it makes things
you know the fact they’re secure so you have one secure chain that then drives
security to other projects and other ideas and I would love to see aetherium
smart contracts as a drug chain on Bitcoin you know and and just I have
that be the end of it and you know so alright alright what’s your what’s your
opinion on this one one the rule them all or yeah no I mean I found ‘mentally
believe that that without competition systems become corrupt because they get
lazy they get comfortable and power concentrates and so I I fundamentally
want competition and I want I want good competition I don’t want Bitcoin to get
lazy I don’t be one big going to become the next sort of you know Gov coin the
next sort of IMF type of thing I want me going to stay the centralized stay agile
and and that’s not gonna happen without competition from the outside and without
sort of keeping a close eye on core making sure that it stays open source
and it stays meritocratic which seems to be what it is right now I do think that
the atomic swaps seems to me to be the way if they clear sort of path that I
see for the Internet of blockchains right and then and it’s one of the
reasons that I work with comodo because they’re actually they’ve been trying to
build this sort of automated order book of atomic swap exchange for years and
they’ve been working on it for a long time I think they’re they’re they’re
more advanced than anybody else in the market as far as that goes so that’s the
vision that I see that’s the vision that I hope for in a way where anybody can
create their own network and if it actually if it actually has a use case
even in a local network even in a very niche space they can
actually sort of interact because you know the bigger that something is the
the the slower it is that add add sort of upgrading because you have to please
a lot of people right if you have a small niche then you can create a custom
plugin for them a custom Network for them and then it can be tailored to them
right and so there’s always gonna be demands for specific sort of kind of
implementations right maybe if they will hold that maybe maybe you won’t I don’t
know but I think that I would like to see I would like to see it stay
competitive otherwise we’re just gonna adapt with with you know something
that’s gonna be massive incorruptible so I’d like to remind everyone that you go
check out the links section below if you want to investigate all these guys more
I put all their links below they’re gonna have a chance to share some more
links and talk about it also remember to subscribe this channel and you pound
that like button Carlo any conclusionary thoughts any
responses to what was said in there your links to of course yeah that’s the –
I’ll post that yeah yeah I kind of think this is all just gonna centralize over
again just like gold I honestly think that in like five hundred years we’re
just gonna be right back where we started like you know whatever chain is
let’s say this Bitcoin is like the de-facto world reserve currency or you
know like like gold like gold was just accepted everywhere and used everywhere
and then all of a sudden you’re gonna have governments that say oh okay
deposit your Bitcoin at this Bank and we’ll ensure it so that you don’t get
hacked and it never gets stolen and then they’re gonna issue like fiat token to
people for their crypto that are in the banks and then we’re just gonna go
through the same thing all over again like five hundred years mm-hm
that’s your long-term thinker there man I’m I think obviously it has nothing to
do with us but I think it’s hilarious so that’s probably what’s gonna happen this
millennium Bitcoin I think I think one brought up a good point though
alternative projects keep Bitcoin off on us
I’m really wondering if in the future that’s gonna be two completely objects
or if that’s gonna be like the UT EXO forks that we’re seeing else Oh mmm
I think both both styles keep the coin honest and I think those are you know
important so I think Bitcoin cash is important to keep the project true to
what the users want so anyways I like I agree one yeah yeah excellent well
Michael now I got you here you talked about a link we said ideal block size
comm is one of your sites right that’s you like calculator to make people
realize how stupid they are that’s when people say like hey guys I want the
block size to be 10 gigabytes for 10 minutes I like well that’s fine but
here’s the here’s what it would cost and store you know this is what the storage
would be per year and if you say well I want 1 billion in people to use Bitcoin
left that’s fine but how many transactions on average do you think
that out you know the first things going to get it’s like 0 0 or 1 or something
you know so you can it does all the math for you and it’s just a simple you can
type it in or use the scroll bar if it doesn’t hit the number you’re looking
for so yes it’s a pretty cool calculator and it was it was made like three or
four months ago when we’re really talking about what the block size should
be so that’s why I just made this website for people it’s just JavaScript
so yeah excellent and tell us some more about the any other place you want to
share but also tell us about this Atlanta Atlanta Meetup and show the
dates coming up and so as there are people from the ATL that are watching
the show so we have dates on on October 10th 18th and 23rd 24th so the October
10th there’s a conference in Atlanta October 18th is just a meet-up which is
gonna be you know 100 to 200 people I will probably you know subject this DVD
we like talking about the most interesting thing happening in the last
you know whatever is relevant so oh and then October 23rd 24th is kind of like
I’m promoting a conference that is things opens in Raleigh North Carolina
so I’m gonna be driving up there there with a couple members from tab and so
that’s the Atlanta Bowl watching you google those three words the blockchain
will take you to me up calm also the block time pass you just Google
block time podcast we have like 33 episodes right now you can listen to her
farts and yeah so it’s cobalt open they have a blockchain track they bit and go
in five years and it’s the best open source conference I’ve ever been to
i-i-i-i I love it because the guy promoting the event isn’t trying to make
a prom okay he sells tickets for like 100 bucks and it’s a two-day event it’s
awesome awesome and you come there and all that so one god what do you’ve got
some things that talk about real quick your links that you want to share events
whatever the floor is yours this is your conclusionary speech here yeah I’m well
there’s a lot of exciting stuff coming up I believe you that like lebed conf is
gonna be in Bogota Colombia on December so that’s gonna be exciting that’s
coming up soon and I could pocos 20 on the February that’s gonna be interesting
as well a lot of cryptocurrencies are gonna be there Komodo Suman is gonna be
a sponsor – is gonna be a sponsor bit going cash is gonna be a sponsor so it’s
gonna be a cryptocurrency powwow it’s gonna be really interesting I’m really
boring I think it’s really good yeah it’s good sponsor and narco poco yeah
well Roger lock that in light last year the platinum sort of sponsorship so I
don’t know if it’s like Bitcoin calm or bacon cash but it’s pretty much bacon
cash like my yeah so that’s platinum and then – and comodo have gold and there’s
good there’s a few other Gold Sponsor script of hardware wall that apparently
didn’t get it as well so that’s that’s exciting
yeah it’s gonna be interesting conference you know it’s the descriptive
politics thing is that it that’s kind of like become part of the culture now it’s
gonna be it’s gonna be fun so you know I’m a big believer in marketing and
everything and I’m not a big fan of be cash at all obviously I’m not a fan at
all but it’s not going away man if they’re marketing it like this he
they’ve got plans up their sleeves everyone keeps saying be cash is about
to die I mean tone-tone days is one of the guys it he says quite all
tonight’s is best about to be dead it’s about to be dead it doesn’t I don’t
think he realizes the marvelous I don’t think he realizes well they’re just
people out there that will buy anything and we’ll just buy into anything and no
matter they don’t care about fundamentals if they just hear about it
and they just if they’ve got a guru behind you they’re gonna get into it so
again it’s going this is this is newsworthy but what you’re telling me
here with Anna I’m surprised a little bit but I shouldn’t be specially be
surprised that they’re they’re gonna be putting their name over and what’s he
gonna eat and what are they gonna say they’re gonna say we’re the real Bitcoin
we’re sponsoring him I don’t I don’t know either I’m looking forward to it
it’s probably gonna be something like this I don’t know if exactly just to be
super clear right like I don’t know exactly if it’s like an officially
Bitcoin cash sponsorship but it’s definitely Roger where it’s definitely
become calm and it’s probably Bitcoin cash right so um yeah I mean that’s yeah
it’s funny to give our money is that justjust one quick point like the funny
thing about money is that it’s kind of like a self-fulfilling prophecy right
like people have their own fantasies about what makes sense and as long as
it’s within the realm of theoretical possibility they’re just gonna some
people are just gonna go all out and then because money’s kind of like self
really prophecy some of them may hold for a while right you know and and and
throw mace a lot of ways I think he does a good work at a good job at sort of
criticizing everything that’s not Bitcoin but he’s been wrong about a
theorem so far he’s being wrong about a many eloquence so far right he’s been
calling them he’s been saying that they’re dead for for a long time and so
you know maybe he’s maybe he’s wrong about the eloquence at least or maybe
he’s too early right so um yeah make a hedge fund that just buys everything
tone vase doesn’t like and it’ll be richer a newtonís Turley’s all there
there’s logic behind everything the man says but I mean like that yeah he bring
I mean you got to separate the technical and the analysis of his from the
non-technical stuff and sometimes there’s people get confused India they
it’s he puts himself out there and I he deserves that credit
for that it was he’s great putting yourself out there and what you when you
put yourself up out there you get a lot of criticism so I’m not good my favorite
tone analysis is when he was he was like I was watching one of his shows and he
was a little bit irritated about the upcoming fork and then he was saying you
know what he said something to the effect of like you know what I hope
everything goes to zero I hope it all goes to zero and dives that way I can go
back to my normal life and have normal friends I can get a normal haircut and I
know my son fires today I hung out with Tony Miami I’ve
interviewed him on my podcast he’s a he’s a friend at least I think it’s been
licensed make fun of his hair tone is all of our friends actually he’s
a he shall return and Carl oh yeah I’ll let you conclude everything now is it
one nothing I sometimes you give some other links to but ever not no other
links to share anything like that if so what we’ll post them below the video
yeah all right well okay Carlo you’re tying it all up here today tie it all up
boy under pressure no I just want to you know thank you for having you know us on
the show having me on the show and thank everyone who’s watching I’ll say for you
town the leg button whoever’s watching and you know after everything that’s
been said about you know one chain multiple chains internet or block chains
atomic swaps I’m just you know I’m really excited about the technology and
I know in 10 years it’s gonna look as I said early it’s gonna look so much
different than anything we’re expecting I’m really excited to see what it is I
think you know the main point of this is that it’s gonna really open up a lot of
possibilities for people in this world that aren’t you know enjoying the things
that we get to enjoy I think they’re gonna go through a revolution of
efficiency and be able to live a lot better lives
they are now as a result of this technology and I’m really excited to see
that happen honestly awesome it’s good to end on a positive note all right I
thank my guests for coming on today it was an awesome show as usual we do one
of these shows this weekend bitcoin is on every Friday I post a new show every
day they’re always live if you’d like to do this chat thing or whatever that’s
your business but we’re going to be back obviously Saturday night once Yom Kippur
is over everyone has a very easy fast it starts at 6:30 on the East Coast today
so I gotta get out of here right now start preparing and everything take a
nice shower shave I look real nice and Saturday night everyone remember i’m
adam meister the bitcoinmeister the disrupt meister romero subscribe this
channel like this video so you check out the notes section below pound that like
fun I’ll see you all later thank you very settlements they show


7 thoughts on “This week in Bitcoin- 9-29-2017- Ethereum, ETC, Bcash, 2x, Bgold, Dash, Mexico”

  • TheArtOfQuietBear says:

    It's my birthday and I can HODL, if I want to! 😀
    Another great show, Adam! 🙂
    And! As per usual, I POUNDED THAT LIKE BUTTON!!! 😀

  • Would it be feasible in the future, for atomic swaps between core Bitcoin and Bcash? Could that decrease confusion for newcomers into the space?

  • I don't know the general feeling but that MT is a bit of p**ck if you ask me! Is lightning on BTC not intended for businesses? Plus about BTC fees, I've been sending 0.1 BTC each day for the last week or so to get it into a segwit address and it's never once cost me more that pennies!

  • Idiocracy Watch says:

    One of your best shows. I'm sorry Juan Galt has become a pumper for the Dash scam, but the Latin world guys are my favorite guests, because they keeping it most real with Bitcoin for a long time in places like Mexico, Argentina and now Venezuela.

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