Bitcoin Pizza Day 2023 | Britcoiners by CoinCorner #90

Transcript

[Music] foreign [Music] [Applause] Happy Pizza day back on Pizza day record not Bitcoin Pizza there Dave hates Pizza day I don't know what I don't like about it I've probably maybe just gone off Pizza day just eight days is it just you just hate anything fun it's just I hate days I hate organized arbitrary days as well yeah I mean but we just take life so right well don't indulge in any of the pizza we're getting to look at this afternoon no I like pizza that fundamentalism change it's gone dark very quickly so we should regression agenda last week so we need to cheer it up last things was great bitcoin price uh Pakistan potentially uh Banning crypto uh Venezuela pledging to abandon US dollar Ibex and one of their announcements uh Robert candy Jr except in Bitcoin I like him but man I just interrupted the agenda insurance no ideas I love an interesting fact that's cool Arc Deep dive we'll ignore Dave uh and this Bitcoin Miami as well news but we'll we'll touch on maybe some of them bits as we go yep and there's no coin calling anything there is called Corner News okay save it what is 25 minutes to get on with some cracking going on so finally some marketing yeah yeah I know yeah I might uh if this overruns I might get up and walk out so if anyone in federal cars if anyone cares like 20 minutes yeah it'll just beyond nothing Dave's tangents will be short in 20 minutes yeah right kind of surprise he's finished the agenda in 20 minutes even I block him out um come on then price 26 881 um extreme but different from my school to twenty seven thousand yeah about 27 were last week no conference pump no there was briefly weirdly on Saturday I did get a 27 27 and a half and then came right down again it's usually a a drop a drop before conferences it was we went back down to 2016 before pump afterwards same old story yeah nobody knows why no anticipation of announcements um so yeah that was that nothing to exciting on the price um Pakistan Finance Minister says crypto will never be legal because of financial action task force the old fatfa good old platform has that's ridiculous because fat Fair effects loads of different countries yeah I thought it was Global right pretty much every country yeah those days the UK aren't going uh crypto will never be legal because of fat for they're under the same fat for all yeah I I assume that's a bit of an excuse for Pakistan why they're blocked by the band in it I'm not entirely sure um I don't know if they're entirely sure from brutally honest but we've seen countries Banning the past in China do it on and off over and over again um we should probably just take a Sweepstake on how long it takes for each turn to make it legal again that would be my sometimes I feel like these countries are just missing out so they just put out a a casual statement yeah it was just a I think they're giving loans to everyone I'm just saying after last week we're talking about the IMF forcing you even have to be in that much trouble well no you could just have a project yeah I suppose oh um that is a great show I think that would be the case yeah so it shows them in good standing so our shout now would be in the next few weeks months maybe the IMF issue a rather large load to Pakistan well if that doesn't be part of why that's a good shell if that does happen very I don't think we won't have anything to monitor that though if it comes up yeah it'll be something cool so cool that's what we have to do should we apply our souls how was life without a soul especially these Sunny weeks how do you go Factor 50. so sold out here back to 50. come out sometimes the funny bone holiday the freckles like I get too many freckles see Danny after his walk he's one big Freckle tonight one big friend no I just absolutely friend do that I get them everywhere Shoulders Knees like everywhere and then they just kind of amalgamate into a tan you know someone likes to live in oh this is one this is why you're wearing a muscle cut T-shirt why because it's a show off your tan terrific you said it before and I was like what's going on with Ikea legs I'm not sure I didn't think about it I forgot on the walk and my legs are like proper burn but with a line where my land Circle I did not realize until it looked like those sweets you know squashems oh yeah they're still quite as bad it was like that first anyway it's not too bad legs all squash and much yeah Liam that came in one time like that wasn't it yeah yeah I was saying that to him that's horrific because we're bad um anyway so Pakistan I am athlone would be the yes so on the IMF in the US Venezuela pledges to abandon the US dollar was this one yeah I had a it's part of a general movement that we're seeing in terms of there's a few countries planning Iraq I've also announced it moving out of the dollar gonna trade trading with Chinese yen well do they it wasn't one of these countries their first transaction last week was it um Argentina also said they were moving out of it U.S dollar Argentina did after they've just took an imflo yeah so all the announcements are about well it attitude is slightly different it's all about to what extent that moving out a dollar so that yeah intercom inter country look transactions can still be indifferent whether they're just not doing that in dollar and then even that that was coming away from the dollar which the IMF is kind of Pro so that's that's an interest because they've banned or they effectively are trying to ban crypto and Argentina as well um so there's quite a few that are looking to do it but then I was thinking is that a good or bad thing I'm starting to read a ray dalio's book how to survive what was it called over a principles are dealing with the changing World Order he knows one after princess yeah so I got it on there it's a long one night that was in 16 hours on Audible but it's on Audible and Ray dalio reads them out and he's got quite a nice voice I'll start and read these news articles and think oh I've had that on my reading list for a while so I thought I'd delve into it I'll get this on now but then I was thinking is it so Venezuela said that doing it to evade U.S sanctions but it's not Venezuela one of the most sanctioned countries in the world the UN UK a lot of countries have got sanctioned about Venezuela because of the is what's his face still the president yeah yeah so that's a lot of it's to do with him in terms of President Nicolas Maduro um so that they say they're going to free up their economy by trying to escape these violations and um would be a lot of other countries have said why they're why those sanctions are in places human right violations political repression widespread corruption so there's there's one argument to say right people should be able to free up their economy escape the IMF which we were very shocked about all of holiday the book I'll read it by next week 16 hours you won't you've got a property of 50 on your reading list to work too have you not no I worked three average about 10 hours a week maybe on it so yeah how you do all right then yeah I'm probably about five hours a week my commute short yeah so Venezuela trying to escape this UF U.S which do weaponize their currency um we know that with sanctions and that's and we should be sanctioned but a lot of countries are sanctioned for obvious reasons so I'm just wondering where that where that sits and everyone's mindset I can see why sanctions are getting used rather than actually going to a physical war and innocent people yeah and hurt but sanctions do affect in this innocent people because they're you know they do any growth decline in GDP that's the um affects mortality rates in countries um there's a correlation there so there's no physical in walls but there is sanctions um and we're always like oh Bitcoins more freedom money um so all the kind of rolls in but I don't know where I've sit with it really talked about this before and when the whole yeah geopolitical sanctions and using Bitcoin to evade them yeah yeah it's just because we might not use it for them for their purposes somebody else can it's kind of like I I don't think that's a reason to ban it and to not think it because that's like saying ban the internet ban I've said this so many times bad cars ban chairs because you know criminals sanctions let's use chairs like stop them using chairs how dare they use a gym it does undermine that's crazy the sanction being used is what it traditionally has to be yeah there's also could that inadvertently lead to actually more war but okay if you were to say right your countries currencies Bitcoin right you can't inflate that in any way you've got the Bitcoin that you've earned as a country through taxation so there's no there's does it start decreasing the dictatorships are very much you know pool a lot of countries resources and spend flagrantly um on themselves and rather on the people but does it probably brings in more accountability because you can't inflate that currency um you know there's does that all sharing liability aspect of it which is I quite like but it's interesting how it plays out this isn't a changing of a world order which is why I'm reading that book because we can't if if American dollar starts to decline those sanctions do become less powerful yeah does that get replaced by Chinese yen who also would put their sanctions or manipulations in place or does Bitcoin come in and make a more fairer Society where the less manipulations unavailable yeah I see I don't know how the sanctions now the the political aspects plays in but from the financial perspective I do see Bitcoin as this is bitcoin's opportunity at least to become that world Reserve currency um by squeezing while everyone's distracted with the Chinese one the Bitcoin can slide in almost Gotta Have leaders that are willing to embrace it though aren't you the door is not gonna we have a few that are doing Singapore Kelly yeah so not necessarily just it doesn't the leaders matter in one respect but I was thinking about this weekend and the best way to um describe how I see Bitcoin growing I guess in some ways is like private corporations are trojan horse and Bitcoin into the world economy without governments and without people realizing and understanding because it's the what we're seeing behind the scenes Bitcoin payments being used for Global Payments and Global movement money movement that is taking off quite extensively from our perspective from what we see in our client base so as more people use it to do that and as more people will be making use of it because it's an actual use case and a useful use case and Bitcoin will be wider used and then over time that's happening in the background without anybody seeing that anybody realizing notes and then that's the Trojan Horse coming in eventually so it doesn't necessarily need uh a leader to set them up and do that because the private corporations generally do Drive Industries and countries anyway they don't and and they will but it needs to be useful yeah it's a bit heavy for a Monday morning it is this isn't it it's gonna say I've got to go now but I'm kind of slightly concerned about leaving you guys but you also have to go and where are you going what are you doing okay quick because it's Bitcoin pizza today you're actually going yeah see you later just go away spoilers everybody well are you saying that me leaving spoils the Pod no there's somebody leaving halfway through there big death in the old screen isn't there yeah the chair now I've got to move over to that chair yeah fill the space um yeah Bitcoin Pizza day so we are delivering pizzas all around town to our Bitcoin friends businesses that we work with and we're using one of the guys the pizza place that accepts Bitcoin just down the road from us paying and Bitcoin that's cool that's cool so we're we are buying Bitcoin we are buying pizza for Bitcoin it's a lot it's on Pizza day a lot of pizzas as well I'm worried about things like the cost I haven't seen that yet we can't be that much it's a couple hundred questions yeah okay yeah you can't put magnitude oh Laszlo ball yeah exactly and so yeah so we're just gonna go hand deliver all the pizzas and I'm just gonna film some from some bits still some bits do our customers actually know why they're getting pizza was there anything to say what Bitcoin Pizza yeah yeah for information it's not just confusing you know why is a Bitcoin company celebrating Bitcoin Peak today let's stay in the Bitcoin calendar yeah I mean yeah yeah Bitcoin Pizza day sucks Bitcoin Pizza day bulk cards Bitcoin you're not happy that is not a package oh no it's a great package um yeah do you think Bitcoin P today's waning in terms of what it's about no I love things there's a gathering momentum are we really still celebrating that's momentum it just exchanges and people marketeers need content so they're desperately holding on to this how can you how can you hate on Pizza they do it's iconic yeah yeah all right 29th of October 1969 I would say that's a more important date for our industry or any other and yet people aren't celebrating why was that when you were born you just had your breakfast [Laughter] why you didn't answer one yeah keep it light please guys uh the first ever trundle message via the Internet from UCLA just to each other over and just uh and it was the elbow where they're trying to spell login but it crashed so the very birth the very first breath of the internet no one ever remembers that and yet we're here Clinging On to two pizzas yeah but then what yeah why are you trying to yes yes you're thinking wrong thing like the first ever uh transaction online well theoretically there's there was another transaction online that people don't seem to care about wait listen because it's not even marked because it's not remarkable the first transaction online everybody thinks was Pizza Hut back in 1996 I think that was transaction online the first online transaction okay to buy something was actually Pizza Hut but actually there was there was one prior to that that actually takes the the crown but everyone thinks it's Pizza yeah fact Champion Mikey but I mean it's just uh it's for marketeers isn't it but they've taken pizzas rather than this other one yeah marketing is very harder than I am learning from with that well so it's a product that doesn't need to be marketed is it nice it does though it's be educational marketing education which is marvelous positive it's got Pizza Hut first online transactions it must look we must look bad [ __ ] crazy therefore these guys celebrate a day where a guy bought yeah some pizza 34 yeah it was a current like a just a new payment method that's what I think because you're literally approaching indus Industries like the particularly the ones that we're speaking to listen to say it could sound crazy but the whole industry sounds crazy I believe it was the first one though it's a very unknown one but it was there was another one that was for uh what was it for now what's he looking I'll tell you what it's on my article it's on my I wrote it on a media article that I wrote about Bitcoin and the parallels to the internet and it's something it can't be trusted because it's your referencing your own article no I'm referencing another article unless you're the reference it was me that made the transaction it was legit I was six years old um no the 94 one was pizza that's the one everybody knows I was the first online Internet okay financial transaction like e-commerce transactions right um so what's the relevance and people look that's been recorded over history it's part history it's part of the Internet it's part of what people celebrate of the first people celebrate that pizza day Google it there's loads of articles about it and loads of things it's not pizza dates like I guess it's just seen as the first one coincidentally is pizza um was it your Internet analogy was Bitcoin yeah what you're just trying to do is find the exact right date no it was the other transaction Pizza Hut was the one that everyone thinks but there is another transaction the only invention of Pizza in this article is pizza it'll be the actual transaction of what it is but it wasn't Pizza it was so you don't mentioned Pizza in this one there might be an Electronics something Electronics one of the first transactions on the internet was pizza yes and the first Bitcoin translation was Pete they ignored the first transaction of the internet which was I think in like Electronics thing and then the one that everyone knows is pizza which was why would they ignore the first one I don't know potentially Pizza Hut being brand and pizza being a bit more relatable to everybody a sting CD sold on net marketing day we should all be buying sting up Sunday Englishman and there probably was all the ones in Bitcoin but Pizza they probably took it because it was the public one that got pushed everyone okay yeah right it's a part history just accept it that's I just thinking it it's a marketing tool I don't do everything is in 10 years where we will we still be well 10 20 years yeah how many years ago yeah we're talking with 30 years ago and I've known and we still know about it maybe everything's marking everything the world is marketing corrupt marketing anyway let's not get deep into that let's get off back onto actually I was going to Crystal that's right I'll say just on Venezuela I think was it Pete McCoy did a documentary a few years ago on them which was very interesting yeah I recommend watching that you're awesome hey it's not the one I sent around to the team it was a few years ago was it that one that was the El Salvador wasn't it was El Salvador this was purely Venezuela if I remember rightly it was during the whole Maduro political did he have a good experience in Venezuela it was good though I remember being good you know check that out then but yeah have you watched the mighty one yet with Peter I need to watch that no worth what it's not like mind-blowing I think because we're in the industry you're kind of knowing about it but it's good to see and it's cool to see and it's good to see like how they've some of them like just doing it at home some of them not scaling it and mass scale um and bringing one of them's like bringing the town local little town in Texas Back to Life all right um because they've it was employing a lot of people yeah pretty cool um but yeah it's a good one that's cool um so one of a very quick one I guess in some ways but part of the the Miami uh conference was was on last week um there was there was not particularly too many announcements on that um there's a couple of notable mentions one being uh Brink um which is Brink is a company that helps that basically tries to get um donations for Bitcoin core developers basically and then tries to help bring Bitcoin core developers into developing um foreign things like that was part of what that was they were trying to raise a million dollars they did raise a million dollars um so that was like every donation you did Marathon would either was it double that or trouble yeah I saw there was a couple of people or something double um so if you go on for 100 in they'll match it with 300 worth how does how does a developer claim what pool does it get appointed you put applications so bring kill the company look at have that million dollars now and they they've already got a bit of Fund in Brewing Company in the past um so it's uh John Newbury and that was running Brink please step down and he briefly did but I think he's kind of he did say he was very much his brainchild wasn't it because yeah he previously was a chain code Labs wasn't he wanted to do something similar but you okay British guy great guy hence between the IMF and Brink there's no structural adjustments that they have to agree let's not get into them but that's interesting he may not decide and and no journey through who gets what so if they've got a project that they like they would just fun that or they're not theoretically yes I guess in some ways I think some of them will be like you know you're an expert in uh you know networking or something like that which you could then say right go and fix and improve and tweak everything you can within the Bitcoin networking piece um and you would donate to him a lot of the time it has come forward with I've got an idea and yeah that could actually be swayed in some ways I guess they have to be as independent and impartial as possible um at the minute so yeah let's not get into that no let's move I'm just trying to be a nice passing comment in the link in the digital Marathon for donating the million dollars I'm sure there are other funds is there is it just Brink yeah that's loads here all right I guess um but that was a big part of what they were trying to do at the conference which was good so they raised it um another notable mention which I think got looked over a little bit um on from the conference considering there wasn't really many other announcements on anything let's try the strikes logo looks cool yeah I like the logo the rap looks sweet so I've got a strong look is that an announcements it's just punk I'm expecting like Ibex for example onboarded um well their announcement was they opened up to 65 countries or whatever wasn't it let's come back to that though let's come back to that but Ibex's was uh we helped me to help clarify that I think as well because there was a lot of backlash oh we'll wait for that so Ibex announcement which I think overshadowed by stuff that wasn't really announcements um was that they onboarded uh the Salinas group for I can't believe the name of the company now but it's the one of the biggest telecommunications company in Mexico they are now accepting Bitcoin lightning payments uh they have about I think it's 15 16 of the Telecommunications uh industry there you think they're the third largest is what I read yeah right yeah all right so I'm using the network I could pay in Bitcoin if you're like using that we have Max Telecom here I'm sure and things like that you know if you're using sure you can pay for your broadband and everything else in my assistant like knowing what goes on that must have taken ages to get over the line uh big Mexican organization yep you know we just were to get into their infrastructure imagineers trying to sign up Mike's telephone imagine well we have them imagine a Hoops you'd have to jump through mindful stuff it'd be really painful it takes to those guys for getting that you know it helps that the owner of the Salinas group the other set owns is the billionaire no he's a billionaire who owns that and he's a Bitcoin he's the game we we know from our ugly parents are helped Ricardo remember yeah it's thingy uh you'll see Max and Stacy got him Uncle Ricky I was just wondering if you just picked out a Very Mexican name yeah pretty sure it's Ricardo um but he's a billionaire but he's massive into Bitcoins yeah you've got Bitcoin on the other side we're seeing that all the time yeah he's head of the group he says right get these accepts and they're going to accept it so then it will filter down quite easily so that is yeah that and what I spoke about last week of orange peeling people find Bitcoins in these companies that's another nice yeah I had to literally dig around to find that news so like in terms of that's kind of been buried for me that's one of the bigger yeah of the conference which has been overshadowed by things that I don't feel are worthy to overshadowlarks it takes away from that what Ibex I've done there I think which is it's quite good was that on the first night the industry data announcer uh because I saw you did yes we didn't see you on the screen no yeah there is a picture there's something I saw the picture so it's good [ __ ] I mean you look good yeah well I've done with a bit of lighting where were you I was just at home wasn't it was like a last minute thing that I just jumped on so I didn't really have time we wanted like to see the dark no point Corner T-shirt nothing I was gonna have had a sign in the Box anything I was eyes upon you and you're just like I was busy lounging it too I was busy in your pajamas it was my first day back to the island I was I was just getting back I was having to get home get ready get sorted uh it wanted like dark as well in the background so you could see that he's in Miami and it's like a conference obviously the Guatemalan that he sent to um was actually in Guam Island you can see the sunshine in her and then you could see our night time at our places I see you actually talkations okay so there was a point to it um I don't the fact that overlooked obviously no it did yeah I couldn't even see it's only more people at the actual conference would have been able to see it so that was a shame yeah um but yeah it worked well it works fine you actually do then he sent so um you'll say uh who's Ibex CEO sent from Miami on stage to you from cash app to um uh Marco was it Marco in Guatemala who then received it on osmo wallet I think it was um and then osmo wallet that was just a normal invoice and then an invoice from him to myself in the UK um to the coin Corner app and then from the coin Corner App via lightning address to back to uh Jose on wallet or Satoshi of course but what you just proven interoperability of different wallet it was sending it literally sending SAS all around the world from like four different wallets using different types as well as a scan using a copy and pasted the invoice to a Marvel and then um sent by a lightning address so all I think was kind of lost yeah and when it was shown it was just like oh they're just they're just doing Ascend I think use different different though no I think yeah pre-record the demo and show a video yeah do you think also jet like Josie's you're welcome I'm presume it's not English so like he is very be hard for him to be as charismatic as Jack malas who is a very very good keynote speaker the show did a lot of passion but if you then took Jack Mars to a Spanish yeah yeah yeah yeah would it wouldn't be of course it couldn't be the same basically Jose how is it should have done it in Spanish yeah you know what I mean because that would have been cool if someone has something to speak passionately speak Spanish so yeah they do yeah it's mostly spoken isn't it it was like when we got there they were saying about that it's like 60 speak it as opposed to but you're right yeah because the thing about your ass is he gets passion across right he really as well and that's why I think is overshadowed in all fairness his maybe his announcement that has overshadowed Ibex's which I think Ibex is was probably bigger in my head in terms of adoption at the minute yeah um yeah it's quite a big company to pull in and not more dots refer to and I feel that's a little bit harsh on them lost that Limelight um people didn't care as much as other things um but there was another good point actually you just touched on there about the Spanish thing I saw somebody tweet about we need to have seed words for Hardware wallets in other languages it's all English so if you don't understand English then you wouldn't be able to create you can create a scene though but it'll be foreign woods and it's interesting it I don't know if it matters it's just like this has Bitcoin got an English bias in it well yeah it was development you think as a British person she was British wasn't he which is the theory um so it will of course um yeah don't know didn't trust him so yeah hold on Ibex on that yeah it was good oh well done he's the start of the show thank you so much better we can't see it yeah oh yeah we could hear me that's worse as well um I wonder if how many people knowing that our VC calls and different calls that we have with people how many couldn't understand you yeah oh yeah yeah people struggle with my accent down there can I say it the Americans I see the dark in his pajamas um yeah Americans struggle with my uh accent um probably the speed I talk as well maybe in some ways um and the complex is because you know we're clever Dave you know yeah yeah it's their issue case they can't understand you right yours um so yeah strike announced they were open exact luncheon there are 65 countries um globally um what so this is the backlash so to clarify for everybody listening what's happened there they've relocated to El Salvador um they're headquarters to El Salvador they still have a company obviously in the US that'll operate um for the US clientele because they need all the money transmission license in every state which they are going through and getting at the minute um they then use the El Salvador company entity to open up to these other countries around the world that will most likely have not looked at all the countries there but from the most part when we can see lack regulation within the territories which means that you can operate in them countries from somewhere else in the world that has some sort of license so El Salvador now has their license so they can Now operate in these 60 odd countries um without needing like a man on the ground an office or anything like that so they can crack on and do that however they can't necessarily get when they when I say operate they are just allowing Bitcoin sends and receives in them 60 odd countries because they haven't got the on off ramps Fiat on off ramps yet which is the part that I think everybody's that's what I'm trying to clarify this now everyone's trying to jump on that and say he was misleading in his announcement because he said yeah we're open to 65 countries we're now global so first of all global global is in 65 countries which I think people were jumping out uh which you can appreciate um their argument in some ways but I guess strike may be thinking you know we are going to be Global our Target is to be Global so that's the dimension to go into the corner that I'm moving that way now which is fine um the on off ramp side is probably the bit that everyone's just very confused with because you can only send and receive in I think pretty much all of them countries at the minute but they have plans to then try and bring in the Fiat on and off ramps in each one of them jurisdictions but that will obviously take quite a long time to to pull in and gain access to them as well as not only gain access but then to integrate all these things along the way as well and then all the currencies along the way as well um because they've all got different currencies and then how do you Source liquidity for Bitcoin in a Zimbabwean dollar if you can't back out to an exchange that operates and has Zimbabwe in dollar you've got an fx and there's lots of issues yeah so very briefly man we'll take it right at the end he did but I think everyone had already basically like passed it by that oh we haven't got the reference and one more thing quick just quickly no offerings like that but yeah I did mention it you did mention it and in all Finance to him he did everything right and didn't try and hide anything which is good it's just unfortunately the yeah some people have not seen that or not hold them on such a pedestal since the the announcement two years ago you know the El Salvador announcement but that one was much more about Bitcoin like the Bitcoin Illegal Tender analysis or Bitcoin itself or Bitcoin can do this one was just all about strike yeah bitcoin's already Global I consent to anyone in the world and that was what people said it's Global okay this is all about strike yeah um but Bitcoin can be is absolutely fine without strike it would make no differences Strikers in the market thick blue wallet wallets are tough yeah or you know you can already do all of that in every country in the world not just the 65 that might be why there's a bit of backlash towards yeah not many people watching the announcement to be fair there's like 2 000 people on YouTube I was watching it I was like this is It's a a bear Market conference isn't it yeah the attendance was lower there's less Buzz around Bitcoin itself at the moment which I assume I think he doesn't deserve the backlash from that he's trying to make an announcements the backlashes well I don't say unnecessary it's just it needs clarification so rather than just jump in and abusing understand what that means and then try and highlight that um he didn't lie and say there's fear on off ramps in every one of them 65 jurisdictions in the minute but he did it was kind of like a passing comment later on which maybe could be made clearer but anyone in that position is probably not gonna highlights Ln URL is a highlighter like like an address oh sorry just flying into the dresses yeah URLs kind of the same uh protocol should we call it in terms of because that's like watching chat with about their Majors yeah I wouldn't want us here now spending you know whatever he's probably spent hundreds of thousand pounds guess slot and say we've got Ellen URL lightning addresses but I weigh very much what's the largest company that has lightning addresses don't know nothing ever obviously everyone should have them it was probably Hills yeah from a customer base perspective now not before strike yeah so you got a thing we're probably in our own well no no no bubble anyway Satoshi happened but because I'm amazed yeah but they're not really a exchange like ourselves they're just in uh custodial wall air that I sit them in a mall I sit them in a non-custodial time ahead because they're not they are custodial at the minute but eventually they'll have to kyc like we do and like striving so they're gonna have to Pivot and that'll just destroy the whole business model um or they go non-custodial at some point so I kind of have them in slightly different category they're not an exchange where you buy and seller they're just ascending receive okay so maybe it is I just saw more I think adoption like it's the same when Kraken eventually integrated line then it's like the more adoption the better oh definitely definitely but if you felt like when we've had them so long yeah until people announce them yeah for me personally it felt like yeah it's a non-announcement but I've not really thought about that we are probably the biggest exchange to sad lightning address yeah some customer base perspective size it's mad that you wouldn't have them if you've got lightning yeah I mean yeah for the how easy it is writing the address is over yeah but now yeah it's good this adoption now there's more movement yeah it's because it took some time I mean I actually spoke to jack on Lightning dresses now and you're also there's been talking around that and that was seven months ago now something like that um and that you know takes time to filter through to actually get these companies to actually jump on and join in and just need to be so funny if you started wearing a hoodie and a cap like like you just you know like just her slowly morphing into him why yeah all right I'm getting it I'm British I do things my way there yeah um we did things the British way um but you're right they've gone back to what you said before the the passion that he brings on stage and things like that is incredible and good and that is I think it might add American very American um and like you said you can see that was yours doing it for my Bex he's got passion and I know he's got passion from speaking to him personally but from on stage like that it doesn't come across as much as Jax does but is that language barrier is that the American personality they're very big brash um which they do very well with any other Conference highlights because they did they've released the ordinal that was was it some wizard ordinal thing yeah yeah um so they're pushing on that they're basically like it's an attack on bit they're using it as trying to do it's an attack on bitcoin but then trying to disguise it as oh no this is like we're doing something really genuine and it's like come off it um so they basically then the whole thing was a charade to basically attack Bitcoin Maxes it was against Bitcoin Maxes that whole tour right which was that's where they got what they got everyone in the crowd to come along to it or dress as Wizards and the hats all and stuff and then I think did they say something about they put their hands up who in here owns or the it's another cryptocurrency other than Bitcoin and they were saying like most of the room hands up so there's no such thing as a Bitcoin Maxi but it's because all the people that went to watch their panel was people had the wizard hats on that were all doing it for them great looks just yeah but he just wanted it unnecessary why was Bitcoin magazine let them have that attention they try to be impartial don't you well they've launched their own order and also they're all about it yeah magazine yeah Danny David Bailey had tweeted that a few times about saying um I don't know what our deals are going to be a future and stuff it's just not a great look from the outside is it it was kind of religious looks crazy the guys on stage Are wizards and we've got the Mayors coming it's like yeah we're trying to convince property and they're great nft Wizards yeah and doing it just to sorry yeah you're gonna mess with after the guys are just on stage dancing as Wizards here yeah then you can come on and tell us how you're wrong yeah because well that is these are the crazy Bitcoin is different things of different people yeah they both successfully you can't you can literally run ordinals on it in a safe manner yeah we know that so I use it for companies sort of company problems but we know that but education isn't out there yet for the public to know that as well now that is the thing that was saying before you still need to educate the public on everything and it's still lacking in a lot of ways because they still see it's crazy is Robert F Kennedy Jr a realistic presidential candidate I think he won yeah I thought I looked at his Wiki because I was like to be hot this is pure nepotism I'm the Kennedy family because every Kennedy family member since um you know Robert and John all got you know well I've all been involved in somewhere in politics pretty much but then I looked at his Wiki and I was like this is brilliant this guy could be brilliant a lawyer really well educated having Sanford as you'd imagine but like environmentalist lawyer no just like there's not that much I probably didn't read enough to find it but then after that found out that he's a master Falconer yes I thought you'd that's a naked president he's been raising his own Eagles you don't get more American than that every American 10 years just from the American Eagles just raise an email that's pretty amazing exactly it's better well they're probably saying it's American the mo 99.9 of America will say what are you talking about yeah that's not American at all it's actually wealthy yeah yeah oh yeah yeah many working that's people that's about it have you ever read that book or seen that film no sorry okay okay oh yeah well that's what thingy does it and I'll selector actually yeah and all sorts of cultures have such a brilliant film sorry this boyfriend's a Kestrel uh baby Kestrel I think raises it um and then his his brother ends up killing it putting it in the bin so this this guy has got his left destitute ex mining town like run down horrible working environments not a loving family and this boy cherishes this trains up perfectly fetches comes back to him lovely relationship and then Judd the older brother remember his name in the end you just see it Castle this boy it's absolutely heartbroken water films have you seen it happens absolutely yeah I don't even know cultural nickels he's got really happy Choice well what was the moral of the film The takeaway uh don't trust anyone all your hopes in one basket anyway memorable and in Michael Lewis was at conference my favorite author oh they did The Big Short big short money at all I've not Flash Boys they're leading Moneyball as well yeah okay done loads that you've got fifth risk all brilliant books he's in the crypto one isn't he now doing the one about FTX yeah because he I'd say well but Polly was Sam he got to sit down with me if he's probably interviewed him a few times but wasn't even thinking about a book but sat down with him he wasn't right I think he was researching for a book he just had happened to be friends with him well maybe it was research I think he was researching for a book well I'll tell you actually yeah yeah the book became actually quite more interesting because it went down here and Michael actually lost his Bitcoin oh didn't he yeah I didn't know that yeah okay so look out for that one that'll be good I've never read a bad book from him I've only ever watched the films from if you watch Big Show yeah no damn see you can see it's I'll read the book our industry should watch that film you can't I I just don't trust movies about 10 times it's fundamental it's a brilliant film from my understanding it's pretty accurate to um I guess at the higher level obviously there's Hollywood eyes bits throughout everything like you can see um but the actual message and what it is and what's happening is pretty pretty accurate have you seen the film Monday ball yeah that's great that's present as well that's really good God yeah we don't watch movies he is a very good as an author I think you'd like him I'll read his books he'll explain very complex like big shorts hugely complex things going on in terms of cdc's and all that and yet it explains it pretty well very you put mugger Robbie in a bath just explaining it she explains his energy so that'll be the problem I mean anyway but yeah it was it's both good films worth watching right right agenda and the girls from the conference but no combat to the agenda no no I should say it was it wasn't all fairness there wasn't much in terms of announcements and exactly otherwise there was Arc it's actually I'm here to talk about anyway um water arc Arc is she don't read anything I share in the it's not all of it there's a little filler I have a do we have we have a kind of on a team chat that I constantly spam with news and everything that's going on for everybody to keep up to date with the industry that's something slightly corrupted for Tesco slots I saw the other weekend this is the best coin come on a chat used to be purely Bitcoin they wouldn't now someone is putting on that was new that's what's available I was like this stuff go in chat how on Hardcore Bitcoin yeah um so yeah I'd shared that one anyway but um that uh was announced it was announced a couple of weeks but it wasn't it another conference um by Barack this is the new Layer Two that fixes Lightning's problems okay um or fixes most of the Lightning's problems the he gave more detail out on the website and I can read a bit more on and find some detail on um so I've not fully read through the the technical spec aspect of it yet but I've read through the general concepts um it apparently does it needs still the upgrade which we spoke about um which there's two upgrades I can have upgrade to the bracelet basically yeah hard as soft love still yeah so he only is on the south folks but it still needs everyone to agree to kind of come around to that to use it um and then in theory you can um kind of a feds we pay let's just say paylight line in style instant um it brings in anonymity for the receiver um so they can have fallen on them and see which they don't enlightening currently it doesn't have liquidity constraints so you don't need to create inbound that band liquidity um and uh you'd have to create channels and open channels so it reduces footprint on the main chain as well this is a lot of words at the minute until we can get the technical detail and see how it looks I think it's going to be the the big if it requires any sort of soft Fork you're still talking years away that's going to be the controversy yeah it's very hard to controversial part of it how fast you bring that in do you push that through like within the next three months because it's seen as a critical thing that everyone ticks the box and says this is amazing let's do it or yeah it could take three years to and then does it discourage people building or lightning as it is now because it could fundamentally change potentially it's interoperable with lightning as well so it will just work alongside lightning so for example so we we organization so we as a coin Corner are going to end up with issues with this sort of stuff um whereas people that want to move to a completely previous privacy focused sort of approach inside we'll love it and want to go to it similar to the e-cash stuff um because obviously with cashew and fetty and stuff but reality is us being the regulated entity in some capacity and some jurisdictions and we are not probably going to be able to use the full privacy Anonymous side of things because it becomes we said about this with Freddie and fediment and how that goes and you ended up potentially creating mixes there because of what that is and how that works you're going to end up creating Federated mixers um and coin Corner as an entity May struggle to participate in that as will coinbase as well binance as we'll strike as will everybody out there because Regulators will say you need to know like we've already seen that with the travel Rule and we've got you've got a with the travel rule in front of a thousand Euros you're meant to send um communicate with the person The Entity you're sending to and so right you're sending two thousand Euros to this what we think is this person's name is that correct they say yes it's one of their customers and then we can send the transaction that's coming in in like August I think this year um which most Global exchanges are going to have to start abiding buying and um making use of so having things like this particular layer too lightning might be slightly better because it has ways to not be fully anonymously private um whereas this is focused more around that which will make it difficult for the likes of ourselves and strike and everyone else to actually adopt and bring in um so it may not be the best um technical from a privacy angle and from there's certain issues um lightning might be slightly worse than Arc for example but lightning might be better from a commercial aspect and Regulatory aspect so you may end up seeing adoption of lightning wider than the other side of it then they can work in parallel potentially and you can handle both of them working and from a more privacy focused side with Arc where you can be used whether as and when is needed and lightning can be on the commercial aspects um throughout entities and companies around the world so this you have to again with like Bitcoin in this industry and everyone's like you do get a lot of the heavy Bitcoin crowd being very you know almost private privacy conscious um non-custodial and all this sort of stuff but the reality is the rest of a lot like you know 95 of the world just do not care and just get only things they are gonna need a duct for adoption to go to that widespread you are going to need companies like ourselves that operate in a custodial manner which we'll have to abide by regulations which will then not be as Anonymous as it could be I'm always in the mindset of it's important to have the anonymous side and Arc and all these things in place for when as and when is needed um as opposed to having a pure uh regulated like with a traceable in some capacity yeah and so there has to be the best of both I think it's it's yeah I think I'm with you on that one I hadn't really thought of that before but there's definitely strength in having both yeah well the current system kind of has been catch yeah get rid of I know we do get yeah they're a very good point so you need this alternative to cash which would be that and then lightning would you be your your alternative to digital payments right yeah like you say with that crowd that you know because we do get a bit of flack for you know Kevin asked for kyc and bits and pieces like that but it's the only way you can function or have a touch point with other entities like other businesses they need you to have that in so we're growing an adoption that way yeah and we have to have these regulations in place otherwise we just can't run those business they'll Club them no you just get closed out and our adoption for that side will be like 90 of the population who has the 10 will be the Privacy Focus that want to go and do that and we can see I'm guessing them numbers based off our numbers that self-custody and hold with us it'll be a similar um number uh some of it uh parallel to that definitely um so yeah there's need for both there's need for everything and that there has to be the non-custodial and privacy side for Bitcoin to survive long term in my head there has to be that there which is good so it has to grow I'm gonna read a round Arc then I think of this biggest hurdle is to get that base chain upgrade in my opinion yeah I think we are years away from that it'll give everybody time to understand what Arc actually is and how it works and is it better than because there is there's the the downside of it which is they're probably their main point is every four weeks you would so you can do offline kind of offline payments as well in some way and which you can't theoretically with lightning let's keep it easy yeah that's why I don't get to the newest arguments of what you can and can't do with it but a a general um like commentary sort of thing you wouldn't be able to offline payments you know it has to be online to interact with the lightning network with this one you can do offline but you have to come online once every four weeks is it to kind of trigger it and even though you have to spend your coins every four weeks is it spending the coins as well yeah because they get destroyed otherwise right so there's a lot of like Little Bits like that which is so would that be an Unchained transaction every four weeks that's what I'm not ready I don't know I don't think so so wanting to get destroyed I don't know nothing else on you enter the virtual uh TX sales and yeah or the life cycle of four weeks right here so you you have to either move them to someone else or move them to yourself again to generate new ones every four weeks something like that I don't know too much about it right um so and I think the piece that allows it to be offline is the introduction of like a covenants or APO so I assume if we got that then lightning would be able to do the same thing anyway so kind of say wait can you offline it but we need this in it's kind of saying well yeah lightning could do that as well but we've got also receiver privacy coming with yeah yeah um 100 Parts yeah kind of yeah blinding paths which people are modeling in with bolt 12. yeah there is blinded paths which can come in about 11 but yeah so we are getting receiver privacy so once you've got that and you've got potentially the offline thing and then the bit is the liquidity probably but liquidity piece is being solved in some ways by various other and splicing and stuff we spoke about last week yeah in terms of what you can do um submarine swaps and things so there is alternatives to it yeah they kind of like work around should we call it that's like they're not companies building around Channel liquidity like products I might be offering yeah but like that they could be building something that becomes obsolete by well they could but this is what we're talking about I'm saying that you've we've said one of the car brushing Arc is still a big if and from a commercial perspective lightning potentially at the minute it's probably still the way you would use it it's like the ecash and fetty stuff We're not gonna like cash in that thingies calories developed we're not going to start throwing that in for our customers a minute because we won't be allowed to uh the regulator or slap as silly for that um so we can't jump in and do if Arc is absolutely Anonymous then we can't jump in and that yeah but we're not in that um a unique situation for Bitcoin where there might be something developed that would in like hamper something that's already been become private companies are being built yeah and that they might then move against yeah that's a danger isn't it because yeah I love these lighting companies are now getting VC funded heavily here to build there'll be an agenda to keep that going yeah yeah we've seen like like Wars before block size War you know so it's like the line everywhere who's it like where do you become working and whose interests well we had it that's exactly what I was like saying there with the block size was bitpayer a great example of that bitpayer shed loads of VC funding and they weren't they were basically their business model was screwed because they had one megabyte blocks so bitpay were fighting heavily for bigger blocks rather than wait a little bit and get lightning and move properly they were there were heavily VC pushed to say bigger blocks which was not good for the network and the industry um so there will be the lightning Wars couldn't title for a book yeah and I'd like to say you've got history to tell you otherwise to like you know go back to history and talk about people you don't and we're making the same mistakes over and over again don't we so they probably will be lying does that's why there's a principles you can see it all coming out of this this book I love this uh his theorism Concepts okay that's interesting well just on Arc as well I think it is theoretically possible now without any pre-val they just has to be interactivity like the lightning is so when I'm opening or they don't have channels but when I'm interacting with a node um it needs that APO to be able to do it offline but you can it does mention on their website it can be done today on chain okay with interactivity right so both nodes talking to each other or whatever I I Envision we'll see it built unlike liquid or Litecoin like lightning was first and kind of tested on some other networks yeah that's what I'd be doing it'd be sensible to check out a Litecoin right now yeah piss around and break it on there it's not going to damage anything it's not going to make much news it'll just be like oh it's an Auckland but yeah I'm already seeing arguments within the comments of like an arc thread on which one we should put on the base chain you know soft Fork speedy trial all this stuff so okay get ready for it get ready for lightning Wars yeah I am going to go smashed by that URL lightningwars.com you know uh cool yeah I was the last and last oh no it was the mempool as well uh surely been going too long now Mikey 58 minutes 58 no short and last one last week yeah about an hour is where your pitch point uh Memphis probably a very quick good one we saw the start I say the public start should we say of um miners opening up an API to allow people to call into their API to pay them off off chain and outside the mempool to speed up one of their transactions and get in the next block private market for project and fee Market yeah how does that impact there do you know it's public anything I share in the chat I do look at this so much time but I'm literally looking at I also look at my own stuff you don't share it imagine if we're just a cabin copy of you because we've all just looked at the same thing yeah but everybody needs to look at that stuff diversion of opinion because I look at different stuff well could you share that stuff in the chat as well please so I can look around I think I'm a sharing guy but I'm kicking him out of the chat so you're a separate market for but how can they guarantee that being the next spot if I want to active yeah because that miners no they'll be in the next block they mine the next spot they mine yeah that's the promise that's what they're trying to do I might open up my little solo mine solo project yeah I will put it in the next pocket seven years later it's still going guys but don't worry I took 20 grand in fees from everybody now yeah um but yeah that's interesting it's interesting it's it's against I can't see a lot of people do it historically yeah because there was a couple of companies that have done it over the past where you had to um you could go on the website Who was one we did it a while years ago now might be when you very first joined um when the backlog was kicking off initially yeah and it was one of the Chinese Miners and you could paste your transaction in and then pay some Bitcoin and they would then track they would get that in their next block they mine they're one of the big ones back in the day I'm a presumably pay quite a high fee to do to bothers doing this for both of the minor and stuff but would that be such higher than the block fee itself so Adam back tweeted something the other day um talking around this because he used to do this with some of his transactions but he actually did it in a the mindset of reducing the mental so if you put a transaction in at one sat uh one set by then the backlog looks like there's just lots of if everyone just put a one tap to buy the backlog then looks like it's like quite low in terms of the feeder and then in the background he was paying a minor to add his block had his transaction shows the next block that'd be mine but then that would it's kind of like a psychology thing of then people would not think the estimate is an automated estimating yeah things would also be reduced in some ways like oh estimating the next um this transaction sorry the fee size you've got paid to get the next block the automations would then see the one sat as like lost in in there and they wouldn't estimate as high so it it kind of force the overall Market down on a downtrend if that makes sense in on a uh for transaction so it's like inside of trading manipulating the market because you're going through the back door downloads but it was like to try and do is a good thing for the whole thing so people are not just Panic paying ridiculously hikes what you see is people panic pay high and then it creates this backlog and then the backlog people are paying like constantly like 50 plus SATs per buy and 100 SATs per byte and so we were at like 250 200 that's a buy at one point recently um so at that point you know if you all start paying with one and then the ones might increase but it's much lower and then the fee estimators that are using it to calculate things might all slowly squeeze it down something more that meet in the middle if that makes sense how that plays out I have no idea yeah that's the interesting part isn't it a lot of people saying like the downside would it be it screws up with the estimation yeah like Bitcoin is a billion fee estimation if you want the next block you pick this but if there's a separate Market of that you just don't see it you can't see so it's not guaranteed it's only nine but but then the miner that people are paying has to get the next block yeah if they don't so it would still be you'd still see the transactions in the mempool so you still see the total number but you wouldn't necessarily know how many in what fee bracket are going to get into the next block because it might only be 300 spare from the main Temple that could go into it because the rest of them have been paid privately um so yeah it's going to be complicated in some ways confusing Maybe um we'll have to wait and see how it plays out yeah I'm not sure I'm a big fan of that yeah I'm not sure there was a lot of controversy on it okay but if you're using lightning it doesn't affect yourself no can I come cool right we're done I think that's so Corner News what was it going to use well that was a pizza here I'm always handing out pizza stuff she's gone what were you doing I'm saying what we've got on this week nothing that interesting interviews jobs out there jobs yeah well we have to lots of hires we're the devs tech Business Development marketing oh [ __ ] account twice and money on marketing accounts we need a new accountant you do we do desperately kicked out Sue Miller yeah that's about it that's the coin Corner News I don't think we've got anything in a minute we've been distracted doing many things at the moment I'm just trying to wrap my brain I can't think of anything no well that's a very poor one way to end anything depressing Dave so we're gonna give a question no we've got questions this week no questions well there's Peter now we post about last week probably no one replied oh I didn't see that Molly treated it how much of an hour break when you pass nope yeah blame Molly cool maybe we'll put puts off that I should go out today actually though um this pod now price email no the price email just pushing that to oh negative questions from people a bit more next conference in Nashville make sure not Miami that was interesting I mean I'd want to go just because I want to go to Nashville yeah I've been to Miami but um I don't know if there's any point I think they're actually paying to go no I saw a comment about this one two months after the harbing or something yeah oh it was a bit I think that's a good time in here no you need 12 months after that I mean yeah for me what for a new all time for the year after they'll do another one um the uh I saw some people talking about I'm saying it was and that's like the way I think about the game back to what I was thinking you do it I don't know um the yeah they were talking about Nashville and saying actually you know yeah because Miami is expensive and blah blah and there was a couple of them saying Oh like yo it's good now they've finally clicked on that not everyone can afford to go to Miami and all this so they're going to Nashville which will be cheaper and it's like that's for an American yeah for us it's another [ __ ] five hours they're also charging 500 a ticket for the actual event the ticket prices has gone up of the yeah and what because people were saying about general admission at the minute you get an early bird you can buy them now yeah the people are saying why is it still like 300 or whatever it's like because actually the prices I think more expensive against certainly yeah it's also to see the same people you could see probably for a lot cheaper like Max Kaiser Jeff Booth it's hard for people the UK Europe as well to get there it's much harder you can't get a direct flight to Nashville I don't think you'd have to get connecting flights and then you're losing I'd love to have something yeah I'd love to see the percentage of locals versus already preempting that we might not be there I don't think anything the reality is we probably will we you know we are we would lose probably going there for the full even if it's like a three-day thing going there for that you're going to lose at least a week doing travel and everything that's why it's better to be like independent like we are like the VC pressure that probably Ibex were under attack you need to go to these currencies yeah the amount of people that they took because like there's no return on that it was quieter this year as well people were saying about 50 attendance in comparison to last year when we were there um there's been a lot of that um I don't know why that isn't a bear Market whether it's people just like exhausted with conferences because there's been so many conferences these last 12 18 months um which it has felt like that to be honest there's been conference after conference it's Prague in like a week is it Glenn Brown a week um we've been to Prague before no I'd like to go though probably nice nice place let's go no no too busy too busy you're busy cool too busy I'm running coin corn Corner News it makes us look not busy it does doesn't it kind of busy it's stuff that you can't really go yeah in a sound by what we're doing anyway right cheers Mikey sure peace thank you guys [Music]