Bitcoin Policy UK | Britcoiners by CoinCorner #86

Transcript

[Music] [Applause] days back we're on the agenda Dave's going to keep quiet we hope Brian Armstrong's wait for our cool enough period Bitcoin policy UK Gary Gensler uh trying to answer to the Congressional hearing uh about his ruling uh Intel stopping manufacturing Bitcoin ships microstrategy integrating lightning addresses um Hong Kong Court recognizing cryptocurrency as property Twitter verified organizations that's gonna be a formal Texas passes new bill for crypto exchanges for proof of Reserve uh and then some coin colonies I've just realized you guys didn't take the mining one thinking and I thought you were yeah we'll touch on it mine the next one I'll write that down so that we don't forget oh yeah you buy one S9 and you're reminding it I mean yeah there was a nine in that one it's completely separate nobody cares about it [Laughter] my wife cares yeah yeah you're spending money on it because it's allowed I've got my eye on a new one though already yeah someone recommended s19 Hydro I was like oh my God the hashing power of that is just phenomenal you gotta be looking at anything over 100 yes sorry price price 27 27 400 I think is it at the minute um have I mentioned this Theory before that I think if you're like I'm put all my savings all disposable income goes into Bitcoin at the start of every month because I get paid at the end of everyone so I do always big buys at the end and then when I need it I kind of drip sell throughout the month and if everyone's doing that you're going to get a price pump at the start of the month and the price dip towards the end yeah I think everyone's doing that how I do it it's not how you're doing it I'll let you just buy auto Buy weekly all right that's not how you're doing it's easier to buy monthly I never sell Dave I never have to sell because I don't go all in at the start of the month of all the people Rockefeller I don't even know what that means local fellow used to be the world's richest man oh no that's nice and nobody knows who he is now yeah no I just no The Descendants are still all massively Rich because he's doing all the oil I just don't like ever selling Bitcoin so my strategy is if I just Buy weekly then I don't know selling you're not buying enough why have you got all that fear hanging around that you can use I literally for this reason deep at the start wow to begin with so that's probably why whatever the equations but I'm going in deep yeah and then by the end of the month I'm like I'm literally no Fearless yeah but you're also struggling like you get stuck because then you have to sell I just I hate selling I don't say it's stuck I just see his um for different strategies man my exposure is as big as it could be which is what I want it to be so welcome back though yeah I might look at that because I think it should be everyone's doing that I know there were the last that's what I'm saying if everyone does do that then it would be a price pump at the start of the month and a slow decline towards the end but I'm sure like Molly's saying it's the most sensible people aren't doing that I'm worrying now that I don't have enough Bitcoin more and more yeah no I do worry about that yeah so I'm just like we talk about Bitcoin been in Bitcoin for ages I should have more Bitcoin that's how how much faith I have in Bitcoin everyone should wear it should be I need more yeah to the point where you know yeah everyone else what can I cut back on yeah yeah you can't buy her some Bitcoin okay of course I did yeah yeah um anyway price yeah report back with the report back next week please without numbers that'd be good I bet we say this every time you never be busy Mikey could you make sure can we make a note of everything that we say in this so next week it's only taken a week off he's got to catch up something else I can ignore uh Brian Armstrong obviously sad tweeted about I like his tweets at the moment he's getting his opinions across he has to he's got to a point where he has to be finally um does he think he's just falling out with America he's going to move I know he said that hasn't he I think it's squeezing though it's squeezing coinbase isn't it I think is the short of this the everything that's happened in the US at the minute is squeezing everywhere so they're jumping right what other jurisdictions can we go to and looking for the offshore derivatives exchange they're going to set up an offshore location they haven't specified yet um and obviously UK and Europe seems to do a bit of their push as well and that's why he was then in the UK talking to regulators and things like that um which is where this 24 hour cool cool enough period came from um which is something most people don't know about at the minute then he's kind of being ignored um obviously the pushback has been tried uh within the drama talk us through what a 24-hour cooling off period is I'm about to yeah all right so just getting around to that beating around the bush yeah I know I'm explaining the the background before I get to that um you try and push back on these things and the policies that potentially come into play but obviously you know whoever's correct putting them passes in play doesn't have to listen to the feedback they get they can or they can listen to it and take it in and whether they make changes is still up to them um so in this particular scenario sometimes the listening they do but we've seen it change and whatnot but you know it doesn't have to be um listen to and the 24-hour killing off period is is basically a UK thing in terms of promotional side of cryptocurrencies and it is unfortunately cryptocurrencies um whereas I think that's the part where we think and we'll come on to the Bitcoin policy uh piece uh where Bitcoin could be start to be differentiated from cryptocurrencies so the cryptocurrency side when you sign up to an Exchange icon corner in the UK um you will eventually have to have a 24-hour cool enough period which means once you sign up you don't have to wait 24 hours before you can buy cryptocurrency um with the appropriate warnings and information provided to you from the exchange um which will then make you as a customer retail customer buying cryptocurrency it makes you able to think about it first and gives you time to think do you really want to buy this and is this really the best decision for you before you then jump in and buy it so that will theoretically you know from a regulatory point of view and the promotion side of what they're trying to bring in here that makes sense for let's say binance where binance have got um God knows 5 000 different currencies of these days I have no idea thousands of different tokens altcoins all sorts of things going on there that people just jump in and hear a butcher down the roads hold and get on this coin because it's the next Bitcoin and we've seen this cycle and cycle again um and they jump in and they just lose money and the gambling base of these things so I can appreciate and understand if you had that 24 hour cooldown in a Regulators mindset at the minute that 24 hour cooldown would give you that time to take that step back you wouldn't be able to buy it straight away you would you know it Alters the fomo slightly for some of these old coins doesn't it it's yes so the finance is the coinbases and things like that and the exchanges out there like cryptocurrency ones they're relying on the impulsive people coming in at the bull markets and doing that um sort of trade unfortunately obviously with ourselves and but Bitcoin and what we try and do is more you know slow and steady over a long period of time not we don't add all the altcoins and all the other tokens and trying to get people into grab something on a fomo mentality which is what binance and the likes do so you can understand from like regulatory Point them coming in from this angle however that creates headaches for us as an exchange and the things we have to deal with along the way and how we Implement something like a 24-hour cool enough period which is why Brian's pushing back because all of a sudden the UK customers that go to coinbase are going to have to have this at some point in the next year or so um this is not in play yet but it will come in as part of the the promotions guidance I mean coinbase are a bit of a casino anyway aren't they so I think it's good for them yeah it'd be a Bitcoin owner it's it's an annoyance but it's however that's in your opinion our opinion but somebody else that doesn't like crypto at all could say well Bitcoin is no different to any of the others so the people can still lose all the money on bitcoin so which is part of the sort of it's still grouped in with the cryptocurrency side and it's part of the um warnings and information that you're gonna have to provide to these retail audiences has this come from the gambling industry anyway do they have it for all your 365 accounts 24 hour cool enough period I think that's a new one uh the 24 hour cool enough period has come in with the uh Bitcoin slowly becoming a restricted Mass Market investment in the UK is what they're going to classify as cryptocurrency being a restricted last Market investment although restricted mass-market Investments are very few and far between yeah some other examples of restrictive Mass Market Investments they would be like peer-to-peer um peer-to-peer loans and things like that I think which are not necessarily backed by anything um and which are also you know they're not actually Mass Market the access to them is very difficult I don't know where you go about going and getting one and not cryptocurrency thing just a normal peer-to-peer loan um one of the other things is that falls under it I think is crowdfunded so Cedars and crowdcube and the likes where your invest the retail are investing into these UK businesses European businesses um but they are a business that doesn't really have an asset or anything behind it it's not an asset backed investment then the capacity is just an investment into a of paper value of this company and the retail audience and not sophisticated investors that would look at these companies like a venture capital company would whether they're sophisticated these days is questionable um and um shots fired I mean it's that I they're probably admitted themselves this is going to be a sign of the silent process is now 24 hours well whilst we go through all the verification process and kyc it's just gonna write you'll have your account this time tomorrow yeah so it's a headache for us such a bad thing customer so no so this is so first you think that then what you don't think and what The Regulators are probably not thinking about is what happens somebody comes along they want to buy whatever coin sign up with coinbase get a 24 hour cool enough period in the meantime they're impulsive they're going to go to binance and binance and not going to abide by the 24-hour cool enough period because they're not in the UK they don't care anywhere they're gonna do what they want and then you're going to force potentially a lot of UK people to Offshore companies that don't abide by these rules on play by any rules and offer all sorts of crazy things and then you now are in a position where you're pushing people pushing resale UK customers away from UK business which is then detrimental to the UK business team um and also up to Offshore ones that are not abiding by these rules and could end up with all these tokens that can be rubbled and then you are then at that point potentially putting the customer at risk but I see that as a that is not that's not a coin Corner probably I think that's a coinbase issue like our customer this is an industry issue for our customers is we don't list any altcoins so our customers a more thoughtful person like customer we've seen that from our data that people sign up and then don't immediately buy yeah they're like they might watch the market or I'm not talking about our customers I'm not talking about coin corner here though this is an industry issue this is the the what the regulations are coming in place to help prevent people losing all their money they might push it to bad players potentially especially short term they will push it it will end up moving offshore to places like your finances who just won't care about whatever the UK is saying that will only make the problem worse they want it yeah which I was saying they've tried to put something in place to help protect it and you understand that from the UK company it's kind of a stepping stone for them eventually they'll try and cut out all of the offshore ones and you'll only be able to buy from a UK based one that will um operate that's years off we're talking here but that would be the theoretical roadmap they're creating here or starting to create um but putting this in place at the minute if they didn't shut off the offshore ones actually just push his business to Offshore and actually puts the customer potentially at risk as well obviously the other argument for that is um it's my money I want to go and spend it where I want so um they don't want the government sign and where they can and what they can't but it does give other like there that is okay that's a there's a Venn diagram of customers that might be pushed to get the rock going somewhere quicker yeah for fomo reasons but there's also a huge amount of customers that get reassurance that okay this is a regulated exchange I can trust my money and my my assets being held there or I can trust that that buy process will happen there yeah but you will lose customers so likes of ourselves we've already seen this we lose customers over the over years we have lost customers along the way not due to that but due to the K like we've always on kyc since 2016 on our customers whereas even UK companies didn't have to do that and neither did other companies around the world binance only recently started doing that um you know in the last year or so um but people came towards had to do kyc we had to collect all the information because legally we had to because of regulatory purposes they it took too long for the customer and they've since then gone and got a balance account and been buying a balance and we've lost customers due to that to binance where they then end up going and buying all sorts of coins so it once you're on a Level Playing Field then no problems but in this migration period I guess towards kyc we've not for coin Corner as well we've not been on a Level Playing Field for years we've been it's been detrimental to the company as a whole as the industry's grown because we've had to do this kyc and the AML checks and things all the way along we've had extra overheads of the compliance team we've had extra overheads of the regulatory oversight from the FSA over here um we've had audits from them we've had to do all sorts of things to and policies and procedures we've had to put in place to abide by these these laws whereas other companies around the world haven't so they've not had that burden that overhead but I think in the the short term that is burdensome but in the long term is ahead of the game yeah it strengthens coin Corner massively like balance is going to have a significant issue but this is this is exactly where you've seen companies we've been fortunate enough I guess over the years to continue to survive and to last these this amount of years whereas we've seen companies come and go that have tried to do it come in be as compliant or even more compliance necessarily say than ourselves yeah and they've come and gone very quickly and died and spent Millions trying to do that because they just couldn't compete with binance and couldn't compete with these other guys they tried to go head-to-head by adding altcoin after altcoin after altcoin and compete with binance but putting all the regulatory framework around it all and it just couldn't um that can be for lots of reasons not just the the AML perspective it could have been they couldn't press the tokens as quick as binance could these days but as a the UK is a commercial entity like the government of the UK they have to encourage business growth so the UK itself can't be the most it can't be the only country to enforce all these rules because then the the it hinders business growth in that sector so that's the main balancing game at the minute they're the only country in the world that I'm aware of that's looking temperatures that's why Gary gessler's getting brought up in front of it that their committees is the fact that he's being deemed to be too harsh on um some exchanges or some coins and that Americans growth which is our forcing coinbase offshore to go yeah which is what I'm saying this is a fine balance between protecting customers which I sometimes think they overstep and encouraging business growth in an economy yeah economy which the UK needs it's going to be the hard part of that as well and each of yours definitely see from some of these at the minute um there was I think it's actually on here but it wasn't to talk about um but I think the UK who was it the UK one of the senior ministers but he was the treasury was the treasury Minister uh put something out or commented about the being in the UK in the next 12 months it's going to be regular crypto is going to be regulated in the next 12 months so but that's nothing to do with his Department his department wants that just waiting this is this is the thing this week we're also going to host the Olympics we see this well we see this here every government has this issue where you've got a department that is all about trying to create jobs and create stimulate the economy in ninja not just crypto but just everything in general and that department is shouting about the their country and how it's great to come and do business here but then the regulatory guys that have to deal with them businesses that come and set up here or wherever that location is they then are like well no slow down we can't we ain't got the resources you see that everybody see like companies yeah you've got one half trying to be commercial and get involved with crypto and they'll have going no way and that's exactly what you see in in this you know he's there shouting about and the same in the U.S they'll have one part of the government and Department wanting to embrace it and do this but then you've got the other side of it that can't because they might want to as well but they can't keep opening up the expertise and the resource or they might not even want it and so you've got conflicts and messages and we're seeing that everywhere at the minute so we're going to have a coin Corner customers signs up and we have a 24-hour clock ticking down and we're not allowed to put the clock what a couple of clock I always entice them to it's like it's like a gamify almost isn't it so yeah some sort of buzzer let's call this out just edit that bit out um so if they come out um so the Crux of this is they're labeling it as a restricted Mass Market investment have they come out and said like why are they doing that yeah there's also this around everything about it it's to fall it falls under the promotions yeah I know that but why are they why do they think it should be restricted Mass Market invest so it falls under the promotions it's because they want them promotions in the promotional rules in place so then promotion rules sit around they're already there so they don't want to create a new ones promotions but then the Krypton star doesn't fall under that until it goes through probably later this year them or maybe very early next year it's so annoying because you know it's all just all coin rubbish yeah and so false promises and you know bitcoin's been dragged into it yeah but yeah you just like I'm just comparing my error compared to like investing in stocks and you see penny stocks and all that kind of stuff they're not restricted Mass Market Investments no because they've they've they've been approved by a stock exchange yeah in theory so it say so they've been approved by their public company with access to things so that's where Cedars and crowd yeah are because they are not a public company you can't see the accounts you can't see what's happening they are startups if that's only on them platforms um so that's where they do fall under this promotional sort of guidance and they're putting cryptocurrency under that because it is within that realm because no one's vetted them yeah since that are on but there should be an offshore stock it changes it listed one I can still buy as a UK resident yeah but it's been vetted by somebody offshore a regulator yeah jurisdiction which would they would then probably be comfortable with as well well the minute is no cryptocurrency vetting process the vetting process comes from the exchanges themselves yeah it's not supporting standards the vet means you know who pays me the most money yeah of course like the you know those crowdfunding things and the promises or the numbers they put out and you read them and you if you actually analyze them to ask some of them are very calm like I can't remember highfaluted numbers yeah growth is unbelievable stats for them sort of companies just like their company exist after a year yeah maybe um so yeah there's it's good that Brian's finally paying attention to the UK a little bit there I know his his team will be behind the scenes but obviously he's never really publicly spoke it's good people he's trying to push back on the 24 hour coin off period I think he's a little bit late to push back on that it's going to happen um and there's lots of other things within that obviously that need to be clarified still and need to be understood um there's a lot going on there that the public are not aware of I don't think um maybe the public don't care but did Brian ever get Joe knockerberg or his hundred dollars through a wiping email address what happened it's work in progress still alive still still work in progress yeah from was it last week I think I saw it and I was just like oh yeah that guy thinks it's just a normal email address no he knows it was he knows yeah he knows now he knows now it's not right so yeah I mean the thread that everyone was telling me it's hard not to know I mean his head's that far in the center still thinks it's an email that'd be incredible he knows now it's wrong and he was trying to sort something but I don't think I don't think we've got anything I haven't seen an update I've not seen it there's Joe still requested I say knocking on his door yeah if I heard them no nothing since that last no yeah it's working it's working progress we'll see come back to that next week he's busy he's busy pushed back on the 24-hour call of period which is fine yeah that's actually more important I would say than this he did do a whole blog post about his UK visit that I didn't read but so I assume there's more little nuggets in there not just a 24-hour cooler I have not read it probably worth a read I'd hope there'll be some other it'll be all within that that promotional game yeah there is some ridiculous things in there but it's harder it's like what's at the beginning of this conversation they The Regulators and people are coming up with that are looking at binance and you know they've already been through the whole derivatives thing of it and all these random altcoins and tokens and everything nfts and everything around it it is it's an absolute Minefield of how do you go about regulating something like that that is actually moving so quickly for me I don't care in that respect of that side I want Bitcoin to sit in its own category and the rest of it can go and sit under these regs and these rules but actually Bitcoin should be pulled out into its own categories similar you know gold isn't really gold isn't even the restricted Mass Market investment so could it sit on the gold-esque style um rules or something I don't know that's that's for them to figure out and us to try and help guide in some ways but God the day they come out and say Bitcoin and crypto two separate things which is what Gary Denzel is doing with the SEC in the US he is kind of talking in that respect however it's not important to practice yet I think this is the part of that it needs to go into practice um even though he's getting a lot of hate which is next up did you watch this by the way no it's quite entertainment does he not was he just trying to avoid saying that ethereum and all that was a security I shared a four minute video with you guys okay it means that watched it did you watch it no but you you talked about it and gave me the highlights okay um you should just watch the video save your team definitely so what was Gary saying in the video I knew that he was avoiding questions the guy in Congress basically was querying so it was all about how people listen that didn't see it it's about how Gary Gunz was and the SEC are kind of policing uh the cryptocurrency industry in the bn2 and they're not being too strict with it they're just not being clear I think is the short of it um so he the Congress uh the guy in the Congress was basically saying um could you tell me he started off this question with a four minute thing could just play it'd be quicker than Me Explain four minutes of not being clear and then wasn't clear in his answer so he said is ethereum a security oh yes I'm about right oh yeah yeah yeah yeah yeah yeah I can't really commit to that okay I know Gary beats around the bush doesn't answer blah blah then he comes back to him and he says so is ethereum security and he's like basically just keeps asking the same question for four minutes at one point I think which is very good but I think this all really disrupts their court cases at the minute as well because he says to Gary do you think they you guys at the SEC have a clear have Clarity and clear instructions and guidance for the industry in terms of what is the security and what isn't and garrigan's Kenza says yes I think there's it's clear the clarity is there everybody should understand what's security and what's not yeah and then he tells us it turns around and says so is ethereum security and he still doesn't answer it's like so there's no Clarity there yeah that's what you commit to that's what he was trying to say yeah um and he kept saying about this um the tests and things like that and it's just like police officers like you can't talk about current court cases or ongoing investigations can you no so it's just okay that's just silly well it's a funny video though it's not it's a bit silly well at that potential if that gets used in some of their cases that are ongoing to say well you know you asked here on stage he would have to then say what you're saying I couldn't talk about it publicly blah blah um so I think in my head there's probably they're still Gathering the evidence on ethereum before they can take that to court properly and try and do something with well I'm thinking about xrp I mean they can't still be gathering evidence there well no there's not five years yeah um but it just wasn't it wasn't good luck for the SEC in general it was terrible um because he couldn't answer anything I mean that's just stupid like they know that he couldn't answer that question they might but the public don't so if the public just see them clips and don't really understand what's going on behind the scenes there they might think I mean like the clip that you shared yeah that which is the only thing that's going around about it that is the only video I've seen of that Gary again so it looked like he doesn't it's not he's not being clear yeah when in fact he just doesn't want to jeopardize an ongoing court case which is we don't know if that's the case still we we are assuming that is the case and I agree that it's probably a pretty sensible assumption we know he's got an ongoing court case about whether xrp is a security or not yeah and then he hasn't with ethereum and it was it was it was asked about it it'd be very much tied with the same brush wouldn't it because he was he kept saying you said Bitcoin publicly is a commodity did he confirm that basically yeah he's all right didn't in the yes or no sense if there's a group of entrepreneurs because anything he says there it will be used against him had to be doing the same time Rich from those um Senators who are presuming the sentence question and because they'd be doing the same thing they're the number one filibusters on planet Earth are those lot with their own agendas so no I don't blame Gary at all team Gary oh your team Gary hashtag team Gary ah don't make it hashtag you commit to that then Gary a couple of months ago a couple months ago I was saying that I I'm I'm actually quite I've been pro-im in some respects because I think for the cryptocurrency industry not necessarily but for Bitcoin yeah he's you know he's on the same way then he separates Bitcoin from the rest of crypto yeah on a deep level that's good yeah that he is and that's where he is and I think in my head I think you're right with what you're saying that it's a rare occurrences Mike he'll still give you that point anyway yeah yeah he knows why is Brad's book um yeah but yeah but the I thought I was going over that it doesn't matter mate move on yeah it's gone this one's just randomly sending me 21 SATs while we're here sorry um oh I get right I get 21 cents every day that's from me I know thank you thanks just random sorry that's nice though I know that's nice I don't know who it is so that's why we need coincon that's why we need it that's why we need a nice Central that's why we get to you narratives on this push notifications I'll just be insulting yeah yeah but you could literally put a descriptive in there see it's just not been a big priority for the tattoo it weirds me out if I don't know who it's from concept yeah have you yeah I think I think it works for me yeah how I put it out to listers listener listener don't worry all the listeners is there demand for a push notification narrative so you could what like use to explain this terribly so okay so a text box with a little push I don't know who it's from so yeah I love it I would want to put something in so if I send you a sack yeah on your phone there's a push notification saying coin Corner you've received one sack and currently that's all it says yeah and I received 21 in recurring from Danny and that's all it says you've received one from me I'll received one from you yeah but I'd like to say one randomly yeah have a great day you would never say that that's very unlikely yeah this is not you at all well looks like here's tense that's good work yeah keep going it's on the list to do yeah that would be cool because I'm very that's nice but I don't know who that's from and it's weird me out yeah we've only got 28 minutes left so should we work through did you want to mention the Bitcoin yes I wasn't really much to mention with them it was just off the back of Brian Armstrong's thing um the Bitcoin policy UK they formed and they are so much I've seen them on Twitter UK guys are you working with them are you doing some bits please speaking to them yeah helping them out some data yeah how's the difference crypto UK or is it similar but it's this it's similar are they working together are they not they do talk to them uh from understanding but I think yeah it's the same sort of thing but they're focused on cryptocurrencies as a whole these guys are going to be focused on Purely Bitcoin which theoretically will help help separate the two um is it a lobbying group so they can contact politicians yeah they're constituents is it so they contact our local mp uh don't think the process I don't think he's structured to for the sense of contacting the local they're just going to go for MPS as far as an understanding and I don't think there's it's brand new it only opened oh I started like a couple of weeks ago um but yeah it's good there's something there I think like a website you can visit to see what they're all about yep come to the domain Bitcoin policy uk.com no but basically yeah just so you can see what they're up to yeah they gotta donate to us Paige they just started yes they just started a geyser fund of they probably I think so yeah have they got an online URL address you can't send that comment though yeah not yet not yet Zach's working on it bitcoinpolicy dot UK there you go got it show them some support I'm not a fan of the dot UK domains no one casting no let's move on to it that's interesting 20 27 minutes if you want to listen to that listener let us know a separate extra pod on the domains Intel stopping manufacturing for Bitcoin miners has anyone seen an actual statement from intellimus no no I didn't read the article but we should have said that source so they specifically making chips for mine as at the moment or that mine are just like using their chips um in their minds uh is it like a universal chip or is it specifically for hash rate stuff as far as I'm aware they were making their own chip and doing it themselves they demoed it remember yeah it had a few iterations of it right and the stops but we don't know why and I've not seen them are they the biggest provider of chips for Mariners Intel I presume they're right up there no they were just they were all just creating their own yeah oh last few years huh and then the stops very suddenly done if that's a costing thing resource and everything else I don't know bear market usually you see this sort of stuff in the bear markets big guy gets involved big guy drops out in a bear Market because all they've said as we've prioritized our investments in IDM 2.0 we have end of life the Intel block scale a thousand series Asic while we continue to support our box to our customers scale customers so they just just prioritized so they're still making chips no they've end of life did only one chip they've specified though I don't know how many chips they had because it said they're still continuing to support the other guys yeah clock scale customers what's a block scale customer I don't know cool don't work so there's one type of Chip that Intel make is going they're just not making any more I believe that's Intel's every other day is it not they make so many chips probably isn't it as I mean bull market comes around the jump in they've end up with some clients that have to continue to support potentially but I think miners are cheap at the moment they're probably my very limited experience you mean from your the one you've bought yeah my used mode seven-year-old mine that came without a PSU ah can you believe it do you want to talk about it Dave come on okay I'm getting into mining yeah I'm currently the solar array at home I'm going to be brief Danny don't you I would say we could get a start watch this and say you've got like two minutes ago all right two minutes yes I want to get involved with mining a little bit more I think it's very important to our industry um I want to see how easy it is for a non-techy well it's a techie guy just a little man off the streets create a little a mining expert someone soon I've read a book on mining I've read the brains book on mining yeah I'm so I am it's been sat in our office yeah and so I've read that so I'm probably the most mining expert in the office but I'm just creating a solo array that I'll probably talked about before on the Pod um the weekend I know I'm using it now to mine I will keep you updated it isn't it's almost like a non-profit mining operation the amount of Outlet the return on investment will be poor currently you just remind me about something remind me after this right to remind him about it's a reminder Dave I just wanna it stresses me out that you tweeted about it people have asked you questions and you're not replying so I think you should just clarify that you you're not a reply guy are you I'm not I might if I have if it's a good question yeah I will update people I will show people how many solar panels it will take to run that S9 yeah and what my battery array looks like use a word array a lot but it's multiple batteries is an array of batteries and what my setup is and how much cost I'll break it down but I'm just not there yet I haven't probably got it all working as Danny said I didn't even get didn't even get power supply with my Miner so I got out of the box all exciting I could just plug it in yeah nope couldn't even get power to it so um early day expensive as well then power supply decent power supply is going to be about yeah that's what I was hoping to um steal them yeah yeah it's still from the office guys we'll just clarify yeah not steal it should see it I've seen one yeah that might go Miss I've seen one of them just take it out I might actually just do that but um yeah so we'll see how it goes but then I've got a lot of we've talked about quite frequently about isolated power sources used to mine and um get my head into that quite heavily along with loads of other projects that I start but then I'm too busy to finish it's a sign of ADHD by the way yeah be self-diagnated in yourself no it's one of the many signs also over emotional which is something not you at all yeah anyway that's the song it's got no emotions just describe [Laughter] anyway mining watch this space yeah we've potentially got some ideas around that which could be good here um we'll see microstrategy adding Bitcoin lightning addresses um into the corporate email so just into their own email addresses you get you there um Dave microstrategy Dot Co dot IO if that's a domain probably not should we and then that would work that would also work as well so someone could send me SATs to that address and work as a wallet should we just pretend that you're calling calling one yeah we're talking about microstrategy okay I'm Dave at coin Corner the io is your lightning address so lightning is one protocol yeah and then we could just set you up using DNS to effectively have your access to your email box as well on dave.dave.com.io and that would also be an email address so you have an email box and you'll have a lightning address but they'll look exactly the same but obviously they go over two different completely different protocols one's over Russ MTP one's over lightning which is all they've done with that which is so you can send emails to them but you can also send lightning transactions too so I wonder how the employees feel about it I would send some stats to you and then send you an email saying have a great day Molly is it it's a smiley face I don't know if they've done it now please oh okay I think it means I was saying about this I think was it to support and I tested the support what networks to Michael's as well but we don't know about others are you just spamming Sailors that accounts and emails everybody is at the moment but it's probably just set up for Asians Bitcoin Becker will be in there and and with comments yeah six nine Bitcoin background she's the one the stalks him basically yeah was in love with sailor and then she got herself a boyfriend and then oh no got engaged and then sailor finally replied and she was like too late sailor oh this is funny um so yeah it's cool I mean this is something we've gone through over and over again and we we would have done it we just haven't bothered because I haven't bothered for the demand uh we could have done it on our current email addresses but we didn't want to make our email addresses public so put it out to the listeners would our listener like that no I'm talking about the team it's not our priority anymore next week we have business decisions and we'll just ask them the question maybe they'll make the bad decisions than we do um so we would do it as a team so the so you've got your email address that would be the same as your line we could have done that the same as Latin dress we chose to do it on a DOT IO instead of a.com to differentiate it so you could push that out publicly if you wanted to um but we would have done the same um originally we think there's lots of use cases for that and we want to work with other people which we are doing the background to try and do similar things um for people so imagine your Gmail email address could receive Bitcoin transactions via line um so it would be your Dave gmail.com now that you have that um but you can have that as your mailbox if you use it as a spam filter yeah that'd be quite cool wouldn't it yeah so if you improve your real goodbye yeah yeah so you could do all that sort of stuff with it then which one could you sign up to newsletter uh it kind of reversed that though but um yeah you could I guess pay a is there any comments come in yeah you could for your subscription for a newsletter you could pay the newsletter's email address yeah x amount of SATs with a comment saying this is for their newsletter this month and they can then just reply to your email address yeah theoretically yeah it's pretty cool can you put in the comments um that's patent pending that was my idea yeah just so everyone knows yeah yeah on record I'm sick of all my great ideas being taken yeah quite well Ellen URL itself I'm pretty sure I came up with I was like these lightning addresses are too long I need to make sure yeah you realize lightning addresses if you know any difference like you know when people post uh okay they're just they kind of can't pull to the same thing this lightning isn't it's too a lighting wallet you're a neural online in the dress I know it might be a different prop or whatever no it's not a different protocol it's the same how's it how's it fundamentally different then lighting address uses El and URL so it's one it sits on top of it yeah such a tech answer to a question but you just thought that you created it yeah you create the idea yeah yeah are you all right I'm all right all right but fundamentally you still see people tweeting their um lightening their dresses out on Twitter and I'm like what the heck is this great big long text for their address that'd be an invoice yeah but like rather than just the lnurl you know that's your invoice I do get it but you can pay to an Ln URL address right and you can pay a invoice no the the lnu wallet address like my Dave at coincon.io is my Ln URL that's a lot of address yeah if you want David Cohen Connor died absolutely you're King of the semantics yeah Ellen URL yeah is just a schema that guides where to send things to and actually Ellen URL goes and fetches which is a lightning invoice wheelies right Joe blogs is an Ellen you're all pay address which my points I always think it was so simple to just have an Ln URL address and it's you can remember it okay and people can pay into it yeah and then but people are still putting invoices on who could have an Ln URL address and they're just creating invoices which is awful and well that's because not every lightning service wallet offers it I know and the custodial ones offer it yeah you can't you can do it in Uncle Sterly but yeah it involves a lot of you got support that's why there's no in your address and much cleaner and memorable so I can send money to anyone because I can literally remember material and URL it's the email address yeah yeah so much simple I think that was my tiny little point that got derailed button Tech and their logic trees yeah cool should we move on all right let's come on yeah we've got 15 minutes if I'll try to make my points quick uh should we skip that we're not bothered about that but we're not what are you not bothering about Hong Kong Hong Kong to his property the whole country just written off there yeah troubles that they're going through at the moment fine mate weird sorry for it not bothered not bothered well the Texas one passes oh no that's the proof of reserves we'll skip that one as well because we're struggling for time okay we've kind of nice like off Twitter verification yeah yeah I'm Gonna Make You quick but Danny has involves Elon he's gonna he's gonna make it long um yeah so I I went to go and verify coin Corner as an organization on Twitter the other day all forms submitted or great didn't think I didn't think the pricing was going to be you know you know you you tell Dave was signed up for this as well I genuinely submit the form but I've not I didn't add the payment that's where I got stuck where I did the payment you were literally at the payment I was literally at the payment method but it failed because we're Isle of Man because oh phew no I couldn't you were actually going for it didn't you yeah and then then I Googled why is why can't I add this card how did you not already know how much it would cost before oh eight dollars eight dollars for a regular person what's going to be maybe 100 I must tell you no nowhere you must submit all those forms yep you've got to go into tease and Z's to find it so does that mean it's variable three depending on the type of business it's a flat it's so it's a thousand dollars which is like 1 400 pounds no no that's not it's one thousand four hundred dollars sorry 1140 pounds well I'm just telling you what it says how many dollars was it a thousand so there's a thousand dollars there's probably about 900 quid yeah well no because then the G then it had UK 1140 pounds so why the charge difference but can they charge more for iOS it had it break down at every single question so that's this gets even worse than the charge and even more something like one thousand three hundred dollars yeah so that was per month and then what you can do when you verified your organization because we're quite proactive on Twitter you can like add Affiliated accounts so I thought oh great I'll add us all as Affiliates they were 60 pounds each per month as well so we got say 10. at the moment you've got it as a an eight pound a month account yeah yeah it's just yeah just regular verified but this would be like organization verified and does that was that helpful that people even recognizing an organization verified over a normal verified well it's only just begun last year yeah I had legacies with some people come back like it's just a few shambles isn't it their organizations have got them and they've been uh the affiliate I saw loads of those I saw Stephen King kicking off no yeah that was funny Elam Elon Musk has given us free just to annoy him yeah no he replied to a couple of people saying you're welcome because he's allowed them to keep their Bluetooth so he's basically given the eight pound eight dollars a month free to these people so I think he's gonna do that for some people that like he wants and then to keep on that and some people have got annoyed and had to tweet I'm not paying anything did you see the Ukraine thing with Stephen King no he was telling everyone to give it to you crazy yeah yeah I mean okay well the boys and he's just absolutely power plays everywhere are you power playing well we're not doing that his company but can I verify the organization but it might start to hinder coin corn Corner in terms of right so most of our marketing is any is anyone if it's like 15 grand a year for us to have that what does that like achieve for us if we're getting customers are joining coin Corner because they've seen your content which would be unbelievable but I've got a Blue Tick so if I pay eight eight a month they'll see it anyway fine so they're going to see my blue tickers individual is as long as it's me pumping out the content not going corner but coincon's also got Blue Tick so it'll get the same output yeah so the company thing I'm not sure what the advantage is that that is the company I guess like it's like scammers I assume can still pay for those blue ticks if you're affiliated with the company then people are going to know it's you yeah but which point that's like us trying to protect the customer at that cost but we're talking in the crypto industry aren't we this is bigger than the crypto industry yeah this is companies globally around the world I think how many you know a small local company that like has yeah a soft space free staff it's only a non-profit okay are they 50. as well I think so is anyone going to do it no anyway I was just shocked at the cost I didn't think it was expensive big corporations might come along yeah I pay that yeah I'm sure some of the really big corporations will pay it well binance I think because I just think it's like I think I'll go for frequency invested in Twitter they tested it in the beta so maybe they probably got it for free yeah um but yeah so we can oh we can't buy Twitter shares anymore can we yeah you just buy Twitter yeah we could buy Twitter is working towards desperation profitability I think he wants I think yeah he wants the angle of I've taken it profitable within how long within a year ago yeah I think that's the case but none of this is gonna this is backfiring what we just said about the talked about before in terms of this is a drop in an ocean yeah yeah it's just annoying yeah he's gonna he's losing people it's losing people's life and he's losing the big celebs as well which are the ones that attract people to this platform but did you see that massive rocket that's pretty cool blew up yeah yeah but it was huge I didn't see it biggest ever rocket launch was it called you remember the name of it well nine minutes so he's still doing impressive stuff TV long but um I heard that it was always gonna blow up yeah they were celebrating when it blew up yeah are they just doing that so it looks like that's one of them yeah yeah well see you oh they've moved on new office news yeah oh well no questions oh I've got the questions yeah okay did someone say this pod was better without me didn't they last week a couple of people have said that couple oh my gosh I tagged you in Daddy's burner accounts like they say it was more structured yeah it's chaotic right this was a question that you got I got uh so it said hey Danny just watched the latest break or in this episode where you were asking for questions is the option of using the bulk card or lightning directly from Fiat deposits in the platform still in the pipeline likes the idea after being caught up in the Celsius show I now leave only minimal amounts of Bitcoin on the platform however prepared to leave Fiat sat on there if that was the case um I thought that was last it's more than in the pipeline it's live to us do we sometimes forget to put that problem we've seen it for a while yeah so technically yes it's all done developed it's actually working yeah we've used and trailed that and tested it um it's a little bit more complicated unfortunately from regulatory side and things like that we're just trying to you jurisdiction you go into and how that can sit and everything so we're just working our way through it will come it's probably just not a priority at the minute um not in a disrespectful way for people want that but in terms of usage of the bolt card at the minute it's limited in terms of where you can use it obviously with Merchants so it's a little bit of chicken in the egg which one we go first um but yes it's all doable uh yes it's technically there in the background unfortunately just not made available to public um and yes we will introduce it and probably a jurisdiction basis as we move forwards um but yeah no timelines on that minute just because there's too many other things we're juggling okay all right good question yeah good answer sorry I'm sorry about the answer but not being more specific right I'll call the news new office it's very exciting times here at the moment isn't it it's worrying isn't it I mean it's stressful for you I I've seen somebody involved designs that you guys put forward and I'm like do I do questions we're designing this office yeah I mean anyone that has to label themselves Vision reason or Visionary usually I don't realize that Vision instantly I didn't claim that not to put you down wow thanks um I don't know what there's much to say about it in a minute we've got new places you know like in a couple of I don't know how long it's going to be to win there being a couple of months time if that's you know if our background if our pod situation suddenly changes to something much cooler then people are going to want to know why would you ever think of some design like behind the scenes pics of new office stuff building is that people would people be interested in that would they be interested in what we're talking about right now nobody cares well it's gonna be cool uh new staff we've got a couple of new staff members which is also exciting two new lost police they're not putting they're not front-facing staff that you know it's nice to have new staff anyway one of them both Flapjacks in the other week which is a great start they were very nice actually yeah you did miss that didn't you that was why she brought me and celebrate you've been quite annoying they were delicious I had three oh yeah um and probably another new we've got in a few interviews I think this week for another another role and then we'll be probably another two or three who's interviewing them is it me and you the Dream Team No it's not actually the worst years ever yeah well we just come out of the interviews going different opinions in time well they did say that no they didn't say that yeah every book you read about good companies that are successfully or they highlight the fact that you need strong internal debate you can't just have people agreeing [Laughter] across in an articulate way that's a good thing we do it almost to like bait them into it of like a can we we argue between ourselves and see if they jump in and get involved because then we know they've got an opinion then on things and that's a good sign that's right then because well you didn't have Dave at the time here all good thanks [Laughter] a narrative um yeah the other thing I want to talk about then is uh just feedback from any of our listeners who I assume are quite all if they listen to the podcast they've got to be reasonably loyal to coincona or at least you know it's not a podcast that you go out your way to listen to you've got yeah cricketer play the same cricket team but yeah from the UK yeah I like it well what I want to know um at the moment I'm working on improving the overall customer experience so from start to finish sign up whatever um I want to know from our current customers if they're happy to divulge could any feedback good feedback bad feedback what we what they like about what we do what we could do better um suggestions of what we could do better I think is ideally it's key for me yeah um anything people have seen that other companies do they don't have to be Bitcoin companies they can be any any business anywhere that does something that people like and that maintains that loyalty I guess to that brand is what we ultimately want our customers to tell everyone about us where possible that's like a it's like build trust how do you build trust yeah you gotta do lots of things right consistency yeah and I'm gonna get all those things and then do them okay and we're constantly gathering information I mean constantly trying to figure out what we can do better and how we can do things and that's a never-ending game so we want feedback on how we do it and what we do and what we can do better we're aware that the the product that we offer is you know obviously we compete with coinbase everybody it's the same product so it's we want our service to be the best it can be and hopefully being British maybe we can offer a little bit of a unique I don't know have you seen the growth in those Karen restaurants no but it's like the one because so they come and go very quickly it's like we're talking about what we said the one the female Cafe in was it Brighton and some uh this sounds like you need to be careful though female Cafe no but that's not waiting so sometimes he's pointed at me I'm using my penis it was in the news about a year ago wasn't it and she did she's creating a new Cafe um that was a female Cafe men can go but men pay extra 20 the pain extra 20 for everything yeah so it was like it was she made this big song and dance by like this is a great thing men not pay the equivalent of the disparity between average men and female wages I think it was could have been but it was a 20 of whatever it was then within 12 months so a couple of weeks ago it was then announced that she's gone bankrupt and the shutdown it was like for a myriad of problems I don't like the idea huge and that as a niche I don't mind what we should do is we should do we should start charging men on our platform 20 more and females because there's less exactly I hate that idea but this is my point I hate it I think it's stupid national women's day maybe we could do a reduced no why why not treat them the same all the year round right I don't know all that stuff there's no one thing that you can just do you've got to do everything well consistently yeah to get and doing these little stupid Niche ideas of these things for me don't their fads come and go no we've got to be consistent with what we do yeah but if you had a toggle that said can we do Karen esque support where our support team is a very blunt with you maybe that's amazing yeah you could do something like that'd be quite amusing toggle that but you give them the choice would you want Really Woolly professional support or could you have a yeah just do this yeah just tell me what to do and you can swear and shout and see now that would be very good maybe we should introduce that and try a little bit that's not what I was going for okay and I think that's a good idea so you're not doing that you're not as a company I'm not doing that to all the customers give them the toggle give them the choice then I can understand that okay because that would then be given the the personalized experience for the customer of how they want it not just everyone yeah I suppose that works on different levels doesn't it doesn't have to be the extreme of like having a that's what it's for all nice like a careless experience it can be I mean what happened to someone like a little old lady accidentally she's gonna get sworn okay but um yeah drop me a Twitter message or a telegram message it's Clint guatemali on booth and anything I will I just want to know basically what people think we do and what we can do where we can do better late for our meeting let's go guys all right don't don't know Mikey Cheers Cheers peace thank you [Music]