Death of the Dollar? | Britcoiners by CoinCorner #83

Transcript

all right let's kick off price won't talk about this industry we've got Chinese Banks opening UPS crypto firms uh turning cow poop why is it called cacao poop I don't know cow poop into the jewel gold um low brow pod this is Florida is proposed banned on cbc's UK treasury the real mint and nfts bear with us though in the nft uh Elon Musk and the Twitter verifications uh SEC chair testifying in front of Congress I don't know how you pronounce that uh US dollar Euro Yen pound for settlements a bit that's a big collection of many things we'll go on to that uh huge Bitcoin logo projects onto European Central Bank did you say huge Donald Trump all right let's not make fun of my talking while I get through this then you can make fun we're talking bricks are developing a new currencies boom all right well done well done thanks Dave to add more umph yeah huge huge huge um sad uses that h i I always hear it it's a huge in there yeah see this is the thing when we say that yeah do you just drop H's left right yeah efficient yeah other words that drop that but that you would use on a regular piece excuse me I used to say excuse me excuse me excuse me yeah excuse me this is just lazy but it really is lazy I think that's just accidentally no it's just lazy anyway price yeah coin price what's the price so Bitcoin I've not even just over 28 or just under 28 28 344. over 28. it's been a bit up and down recently hovering around 28 for the last week or so now um nearly broke 29 a couple of times doesn't it but not cool so reverse Bart the Jade the firmware update the zero one four One update firmware allows you to now mine with the Jade wallet are we just going on to this part of the agenda might as well the price price is solid brilliant Jade wallet how's it going firmware update I did the firmware update and then it something wrong with my cable or the serial Port genius I can't say it yeah he kept saying I was already using the port and as I'm not using the port should we tell everyone what this is about first before you ramble sure so so this is real world it was actually the first of April I think it was block stream to eat it I didn't believe it nobody believed it Adam back then did reply saying no it is legit uh marketing people should know that you never announced anything on the first they did it on purpose I think it was a joke within a joke it kind of is a joke so the point is the Jade which is a cold storage device that people use they've upgraded the firmware so you can update the firmware to the latest version and you can then mine Bitcoin with your Jade if you've got spare Jada wouldn't advise at the minute not knowing how it fully works yeah I wouldn't advise using your cold storage to access this is a spare Jade I had nothing on it yeah so I was just using it well trying to use it as a miner power of the first hurdle not the first hurdle I did update the firmware it's like the second second you can just put in an address plug it in and it should just start going but the hash rate is so it's tiny it's tiny it's old-school USB miners at least but always a chance but yeah well Adam back called it like it's like a lot of 1000 chances a second did he say yeah how does that why is it a second I think I think it works I think it takes you about a trillion years to find the block unless you really lucky you'll be guaranteed one in one trillion years or something stupid all right I'll take that so you've got to be incredible the odds have to be better than uh playing the lottery I think I haven't I haven't worked out that I don't know I don't think they would they wouldn't be I don't think so oh because I had my my analogy would be just be like people pay you can pay 10 pound a month to play the UK lottery you know you're getting four draws and the odds of winning are just absolutely astronomical see if it pounds towards in The Syndicate all week long for that well I wouldn't even like this is like I think this retails for 63 pounds and you so you're just 63 pounds and you're playing it a lottery it might as a lottery every 10 minutes you do know that you're probably better just plug in a normal computer and run it really hot I don't know apparently they do perfect yeah when you set it up as a caveat saying like this could damage it along Disney so it wouldn't keep yeah it's not minor it is just a concept isn't it it's a bit of fun yeah on April the first yeah but so it is like no one's really considering or I'm opening minded operation using these yeah but it is just a i quite like the fact that I'm just gonna plug it in [Laughter] yeah so I just think it's actually maybe slightly more fun than just having your lottery no yeah I think you maybe if you were to do an actual Lottery thing do it with a like a computer or we've got the old mining machines that's a still got some kick in it yeah it should be so loud it is loud it sounds like a helicopter used as a cup holder my S9 is on the way this guy shipped we can talk about that later actually that's one of the topics okay okay I'm excited about that one cool anyway Jade get involved well my J broke so next week we can have it where you'll be able to show us your mind it was really annoying because I was setting up a wallet on it and then um I didn't have enough battery charge on it so it's halfway through my 12 words to verifying my 12 words and it went and I was like oh where's that leave me I'm halfway through I had to go and go through these 12 words again just end up with a list of 12 words new version yeah right China Chinese state-owned Banks offering crypto firms services in Hong Kong did anyone read this game no so Bitcoins banned in China at the moment isn't it in China in China but this is the Hong Kong arms of all these banks that are offering the crypto firms and services why I'm surprised they'll be allowed uh this Chinese state-owned so it'll be a push to I assume more of a positive as the US are clamping down they're just gonna do the opposite Army then for them but so I don't understand why I know Hong Kong and China are two different things but why would why would they be allowing this because the US have just started to clamp down quite heavily on the Bank inside and crypto in general yeah but then why is Bitcoin still banned in China I imagine they'll that'll change they're gonna pivot to adopting it yeah they are separate authorities right in Hong Kong in China yeah I mean but there's there's huge overlap now whereas it used to be a British basis yeah British but now we gave it back to China well especially agreed that we would get back to China and that's what happened um well they tend to flip-flop don't they China between Brian and Bitcoin on bang and Bitcoin yeah currently in the band Bitcoin stage I think this is just because this is Hong Kong this is obviously it's a Chinese push or whatever but I think it's just interesting because of the way the US is playing out at the moment with this negative I say negative approach towards crypto it's a it's an approach I don't know if it's negative positive or what they're trying to do at the minute with it they seem conspiracy Sadia says they're thrall in it and or doing all different things um trying to put a sensible logical hat on you're thinking actually are they throttling it or are they just clamping down on um criminal activity I guess in some capacities criminal don't necessarily Sylvia and all them were acting criminal but very poor business models I think China might just be using like Hong Kong as like a free trade area almost like they could have it separate from China yeah and grow up like this it's like you see in Dubai lots of like free trade regions that are just like blocks of the city where there's slightly different yeah economic regimes in those areas so it might just be a play there be interesting to watch though I do it has to I assume it has to be there on the because the US banking sector kind of squeeze crypto they've surely just come out and said right we can do this and potentially attract business so um that's got to be that in my head gotta be it's gonna be maybe um yeah see how it plays out obviously we're not really took much of an interest in it at the minute but um it's nice to know it's always it's countries around the world except in um Bitcoin businesses or governmental strategy to us right now it doesn't matter in that response if you can access the system via various means then that's what you know it's what we had to do historically we were banking in all this week banks in Hong Kong for a short period of time um but it's in Eastern Europe Latvia Slovakia Slovenia all sorts I'll always be a bank somewhere yeah it's true free market but I don't think it'd be too long till we have a Chinese bank with a one access Yen yeah yeah that's Japanese Yen oh it's like one one no let's build different y-u-a-n like it was called in the same yeah that's my ignorance I think it is probably pure ignorance yes but maybe it won't be too long till most businesses have one there's a lot of UK companies have dollar accounts for that same reason just to put into perspective I know there is this whole thing at the minute of all these that comes on to another point in a minute doesn't about the countries bailing on the US dollar and trying to trade in their currency or into their local currency should we say um but there was did you remember did you find that pie chart different currencies around the world are traded and the dollar is still like you know 60 of global trade or whatever is the dollar then you've got the euro is it second like seven or eight percent and then you add something else was there and then the pound and the pound's still at like five percent or something and then I think the one it was like three ones like yeah or something it's a nice or a bar chart not a pie chart no it was Danny saw the same thing but in different Graphics misleading pie was easy to quickly see that the US is still the dominant global trading currency and for the Chinese to take over in that respect there's a long way to go well I think their plan is I don't know do we have it highlighted the bricks I plan on bringing out a new currency yeah that's what I want to be for the new currency to be the dominant one I suppose okay but that's still this is that speaking about global Reserve currencies and we touched on this last week and I still think in my head this is slowly going to play out in bitcoin's favor so we see these guys all being distracted battling against each other right now while Bitcoin in the background slowly ingrains itself in all the different countries and we can then become a globally traded currency I don't think a current country will ever pivot to you like they're not going to stop using dollar and a Bitcoin well our Salvador did but that's destroyed your argument there is in like a global global base currency El Salvador would love to do that if everyone else played ball um but only because El Salvador have no power over their own currency at the time it was like America isn't going to get rid of the dollar and replace it with Bitcoin no I don't I don't believe what they're actually selling their Bitcoins yeah I don't believe for a minute yeah I agree I don't believe for a minute they would um pivot or some of them suddenly I'm sure but some most will not and they'll keep their own local currency but that's not the point of that conversation the point is that glow the global Reserve currency so the global Reserve currency doesn't have to be your currency as it's not for most people it's only for the US so as long as they can trade globally in that currency with ease that makes you the global Reserve currency over time and I'd like to have seen I think we talked about it Danny of the pie chart of the bar chart what how big of a chunk was the oil um trading oh yeah yeah that's a good point um but the global the global Reserve currency is just the most traded currency it's just a label for the most Australian currencies yeah where Bitcoin I think sits well I think that can eventually this is great in my head because they're all distraction that's distracted from Bitcoin themselves and they're all arguing between themselves now with their own currencies and trying to push China obviously as you can see is heavily having this yeah but they've all got the advantage of having massive countries pushing their own agenda Bitcoin will never have that no but Bitcoin Bitcoin has that in the background already happening that's the point what companies like ourselves and people like ourselves we're growing that within these countries of all those politicians scrambling to keep on the politicians are in for the four years or the six years or whatever many years they're in for that power and then there's a new cycle every time so yeah it's completely aligned beliefs I think it'll come from Bitcoin as in within those political circles it'll be come from Bitcoin is within yeah it'd be very interesting if Bitcoin took any slice of that pie chart I I think over time it's not gonna happen overnight it'll take time but I I believe it will happen with Bitcoin because they will have no choice and I don't think over time the politicians and that will have a choice at the end of the day unless the government outright bans Bitcoin and cryptocurrencies they will not have a choice in how their private businesses do trade um at which point they will all pivot to the best and the most tradable and the easiest access yeah which will over time Elizabeth Warren is already planning she's got an anti-crypto army yeah that's her campaign she might get voted and she got voted and she's been previously voted in yeah but I mean she's never done one campaign this how much how extreme is that yeah extreme no that is Extreme yeah so we've got we've got to fight a whole Army Danny that's right we got it if you had to put a time frame on it then I know it's almost impossible isn't it when you say it's not going to be overnight what kind of time frame would you put on that normally Global Reserve currencies last between I think the lowest it's been about 80 years is it like 250 years range um averaging around 100 150-ish I think normally um Dollar's been in now for are we 80 90 years I think or something like that for the dollar it was since World War Two at the end um so yeah you may be talking between now and 50 years away still oh I reckon yeah I reckon between Chinese yen coming 80 years later maybe a Bitcoin yeah there's another one first before Bitcoin uh probably no because I think that I think the Chinese will push that right now and that is what's happening over the next year you've seen that happening now and you'll see that over the next decade or two but in the background Bitcoin is only getting bigger and more widely used and more widely adopted and then over time before they realize it Bitcoin will be the global reserved uh currency and traded currency [Laughter] it's not going to be in itself well yeah I think it's not going to be my lifetime if I'm honest can we just pivot stop at how fresh you look now with that haircut do you look fresh though it was the shirts and Suits um yeah that's happening it was a lot my hair was so long though honestly but I went to the hair did I tell you I went to the hairdresser swept it back looking at myself in the mirror and said I don't think I need this I don't think I need this what no you said you looked cool it did look cool I thought a little ponytail [Music] next time it's not happening yeah it's not about you Dave uh this was kind of your chance on the Asics so turning cow poop yeah why poop it's America what would you prefer manure yeah elephant anything but poop is very married did everyone else once they saw Joe so this is about Joe nakamoto's done a good video yeah trying to Telegraph you've not seen it but Joe seems an extremely friendly sort of bloke and he's quite like quite a nice 10 to the videos um yes he's a lovely guy but yeah this is selling selling Skilling Skilling pronounce it uh mining which is in Ireland and they are turning the cow manure into uh Bitcoin basically basically as Farmers with anaerobic digesters that you create a lot of you know energy and it's just a spare excess energy that they might just sell back to the grid trying to explain what uh digester is man I went on a deep dive on this one you can make one at home I've seen a guy yeah that made one with an air mattress oh that's interesting but apparently yeah so he's just like basically you can use there's a few things that are better for it but basically they produce some sort of a methane that can burn so you can then put through a generator in a liquid form so there's a lot of things that digest in organic material cow poop helps because it's all it's already kind of we're calling it broken down it's already broken down it's already starting on this cycle so that's good and grass is good because there's a lot of organic stuff to be broken down and it releases a methane and and that can then be burnt into energy so it's using the stuff that would have just been released into the air which is why it's quite green and good and capturing it and then using it as a energy form so farmers have a lot of them there aren't any in the Isle of Man though which is really annoying so basically skilled skill and they've got this facility where you can just plug in a Mining facility any energy that isn't been sold to the grid because the grid doesn't need energy all the time it does have a big wave flows yeah so you let's go and medicine and you plug in and the mannequin and the farmer can then just utilizes excess stuff brilliant you've got this facility already you might as well make more money out of it makes it more efficient so they've done that and um there are loads in the UK that potentially could benefit from it because there's absolutely loads of it I think digesters but I was looking at making my own yeah well I was looking to buy something you can buy them on Alibaba apparently smell which is all right on a farm but you can imagine putting it in your kitchen Airline makes a fertilizer yeah [Laughter] but yeah they have a theoretical end of supplier goes down these things of that because they have like slurry pits anyway it's just being wasted so you might as well capture that energy it's pretty cool but I think the big part of those the digestive so the creating the energy and only when it's not used not um cost efficient to sell it back to the grill then we'll mine Bitcoin with it and use that energy but I think the part of in Ireland I don't know and I don't know how they are connected to say the mainland UK grid if they even are and how that works um but like in the Isle of Man if we have excess energy here we have a line straight back to the UK normally where we sell it back to the UK which is always on tap that we can just find it back to the UK because they'll always need it so we don't really I imagine the farmers here probably don't have a big demand for no but it's big big facilities have can sell it back to the grid but there are a lot of smaller ones where you might or other isolated ones to where it would be practical to get it to the grid where this works as well you would yeah you would have to be an isolated situation when you're always off grid almost yeah but you can access something um but I don't know about many farms that's we were looking where we need to try and figure out can we do this in the Aleman and is there enough actually that is similar but um it falls down a few hurdles I think doesn't it yeah huge costs involved I mean the the digest has to already be practical for the farmer really you don't want to be building one juice it's more about using that excess energy and it kind of it's a cyclical because the farmers have a problem in terms of get what do they do with this waste anyway oh they can use it so it benefits them and also makes a fertilizer for them that's why it's so they can spread that on the field and then sort of buying nitrate they can they save there as well so there's a lot of costs saying for a farmer as an individual yeah no I'm thinking from a farmer that's why I then question them I had why are they not already doing that forgetting Bitcoin why are they not doing that and selling the electricity back to the grid is it just not feasible here on the island for whatever reasons and it could be Financial could be all sorts of reasons they don't have a big enough Farm sound like we need a Pharma study group yeah I mean I don't know it's more we have a lot more sheep than we have cows right and you need like a what's called a wet manure which is oh so this is only for cows this is it works better with cows I think you should probably still do it with sheep but there's obviously with cows where they stick the needle in them the meeting yeah I'm sure that's real absolutely I saw the video yeah it just looks cool so I think the good thing was skill in anyway skill in mind it that they found I guess in Ireland particularly because there's a lot of um farms and obviously there's a lot of access there to this kind of electricity a little energy um they found a really clever little [Laughter] they don't have to set fire to that though no no yeah well no they let you know when it's out when you're done yeah you could just use some some like your finger to see if there's something it was still spraying out please um the video wouldn't have been as good if there was no fire what scaling I've done pretty cool pretty fits into finding untapped energy sources I guess from Bitcoin mining um this is my 2023 my bread and butter this is why I've got my solar panels This is why my s9's on the way as I'm gonna have a solar power home mining unit well it'll have the worst return on investment ever known to man it'll take 20 30 years to pay itself off at least are you going to use it to try and heat I'll be doing it um yeah heating like storing the heat for the summer in the winter yeah they store it like under their houses yeah and you can just store it in a room yeah store heat in a room it's mad it's not the best use of a room in your house is it don't go in there that's a heat room don't go in the basement it's not like a special basement door my heat's gone that's the winners [Laughter] um but no it's cool idea I think what they've done and it just shows that there is lots of different ways to generate energy from things yeah that's cool obviously then you can use that to mine Bitcoin the powerful bit is when it's not feasible like selling back to the grid for example they can then turn on the miners and mine Bitcoin so it's a nice use of use for the farmer stopping constant flow going through they're quite easy to build and anaerobic digester you know so you'll have them ready yeah once you've watched three YouTube videos on how to build them you can if you can judge it right and these guys were building just digging a hole that's what it is and just make it an airtight cylinder in the hole and then you just feed it does it itself if you get the right mix that's all you need it just smells it's true um French authorities raid in five major Banks per 100 billion dollar 100 billion Euro sorry I thought you'd be all over this because I think HSBC we're in there and they're always in there there's fraud involved they love it several year long investigation wasn't it yeah government level fraud that I always that I was like to talk about these because everyone thinks I like cryptos for criminals you always get that everywhere I mean 100 billion dollars is more than that than five banks alone than what the whole of the crypto industry is full stop well it made me look at the FSA UK banking fines list that's published um by the FSA on their website they're very transparent about who they're finding what they're fighting for December alone in the UK there's 150 million pounds worth of fines just for breaches Santander got one for 170 million well I think how much did they make from what they did so then like they make 500 million and they get 570 take the hit take a slap on the wrist do you think do you think they conduct business with that in mind 100 no it's risk it's how much risk they want to take for them they're acting they're breaking their own banking regulations and clearly they don't care because they keep doing it you just think they don't care well they don't care or they've not got proper procedures in place to handle it which is what the regulation is all about and then these things and don't get me wrong these things happen baxton and they will happen back soon um but for them to keep happening at the scale they happen at these Banks so they care I don't know well that means to show the fans aren't doing their job then no exactly it should be higher it depends they should be for the amount you made off it effectively Taylor banging lines is awesome but then the final nonsense rule the majority of time for my understanding they find them less than what they actually made in in Revenue say off the back of whatever it is they did so they which is ridiculous you should be finding them the amount they made it doesn't ever seem to be a reputational problem either no one cares everyone's getting fined we're not seized yeah how much the mainstream see them five banks which is HSBC one of them and would you ever go right I'm not banking with Santander they just got 100 million pound fine no they're just for breaches of help with them yeah that's what people will do it's sad though isn't it yeah there's no like reputational damage whatsoever maybe people should be more so who were the five banks as well then we got um Society General BNP Pub hours they were also on the brink of bankruptcy anyway after this uh you can't what's your own what's your evidence on that no they were yeah they were involved but they're like they were like they got bailed out I think by the French did they think so yeah I know I saw there were headlines what do you want to call them no that was a call well we kind of no hey like ages before like two years right yeah we actually we spoke some years ago now when we were trying to get a bank seven years ago um anyway so the banks paint themselves out to be whiter than white and actually they're all pretty much all act well they've all been fine a lot and HSBC I mean come on come on then again make it Zero Tolerance take off the banging license the others won't even think yeah but absolute chaos there's zero tolerance you'll end up with no banks no you won't you'll end up with them all playing by the rules maybe the maybe the regulations yeah [Laughter] I don't know which way you'd go nothing's black or white nothing's ever everything has its new and stuff yeah you're right I was just somewhere in the middle obviously if your lines are not working oh periods of like if if you watched a big short they talk about it quite nicely about all the regulation gets it gets risky and risky all the regulation gets taken away and Bank bubbles tend to arrive at that point a huge regulation comes in because everyone's worried about happening again and slowly they call it back because it's not as not commercial enough that's what a bad Administration is bitching about at the minute because they're saying Trump took the uh was it 2011 was it he reversed all even recent so the ones they brought in for the Post Financial 2008 crisis um which was uh was it a minimum fractional Reserve percentage plus a lot of other things um Trump removed all that but would that have saved all the banks have gone on that's what the buyer Administration are trying to argue I think now in some respects so they're trying to bring that back in so there's probably exactly yeah bringing that them restrictions back in again but it was only was it two years ago something like that the US the Trump thing Administration removed the um fraction Reserve Banking and made it you only had to have zero percent which was nothing uh you had zero percent fraction Reserve um it was a new rule for them I think it was about two years ago it was quite everyone jumped on it was like this is crazy at the time hmm and then clearly it was even though none of them were actually operating or don't think anyone were operating that zero percent uh preserved um but they're all operating it was it ranged I think we said the other week four to twelve percent range was it um which clearly is still does anyone else disappointed how Trump was arrested and has he been arrested disappointed no handcuffs is it not today yeah New York I think it was two days ago I thought it was today was like officially being my kids has already been done I know yeah his lawyers they can be quite like yeah the poop the one with the Pope whatever like no but he was wearing a park right have you seen an AI generated image of being arrested and things I think it's the last nine minutes ago the telegraph said Donald Trump uh to fly into New York ahead of arrest yeah no they're just saying how he's going to be yeah his lawyer did come out and say it won't be in handcuffs is that oh is that what I'm reading yeah so it hasn't happened when he's going into New York he's getting arrested yeah and he's doing it and I'm already disappointed with the method he's being arrested with which is this is wrong but I am I'm going to be disappointed I'm just calling it is what it is not in handcuffs I think Zack's uh theory on this is what's probably true and gonna play out hey like I can't remember my your Trump theory about him coming out on top of this oh yeah he'll win in the scenario directly into his next presidential campaign quite nicely yeah you think it's almost a big campaign the president the president to be being arrested but like not no one's too big to be arrested what did he use the political funds to push money for Stormy Daniels some weird sort of porn names Stormy Daniels Stormy Daniels could be done he's fondant right let's move on um because we're getting nowhere here there's so many to go Florida proposed ban on cbdc's could Outlaw Bitcoin oh this is not the one I've read about this last week we did yeah but this is now a new one I've just realized but I read it and it just said it didn't tell you how it could Outlaw Bitcoin oh okay fake news terminal research I've that's been highlights I thought that was the different one yeah okay there was no reason this is yours Molly UK Treasury drop in plans for the Royal Mint nft yeah about two years ago yeah it might make it longer than that um so it was the royal men ourselves um there's a couple of other guys on the one who made like a panel between us it was done by the royal men and it was to talk about um different investment products or obviously it was yeah there was you there was Roman there was luxury goods yeah and then okay all the property or something something else um so it was like all different types of Investments so to talk around it and they were talking on the gold so we had conversations with them and at the time we spoke to them didn't we tried to get them to do some sort of partnership with us to create like a a Royal Mint gold Bitcoin coin like a physical coin and they brushed it off like because they didn't want to get involved in Bitcoin and everything else I look like the queen or king's head on the back of it yeah yeah but I think they can do all sorts they're all sorts of different types of course yeah like commemorative uh yeah but they've always got the king or queen on does it I think they do but they then which we found funny because then they decided oh we're not going to do a Bitcoin gold coin but we'll do an nft yeah and they did a whole project whole announcement didn't they on the nft stuff this was before okay yeah that's before yeah um and then it's now been announced they've scrapped it yeah less than a year later everyone isn't it everyone everyone's doing the same thing what reason did they give did they give a reason they just just we scrapped it yeah they just said it always says Focus all of us yeah it's not a priority which is AKA for we [ __ ] up we followed hype and realized it's nothing there well certainly never they never actually said what it would do or how it would be used also who wants the Royal Mint to be following Trends just just do your job is it slightly privatized do they not I don't know I don't know enough about the Romans I think they're trying to like there's a lot of commemorative stuff see like the Royal Mail in the Isle of Man are issuing more stamps every other week yeah because that's the revenue generator for them so they still have to get Royal sign off on them because it has a royal patronage but they do all these commemorative steam training ones all sorts of tedious links so they do that for Revenue generating yeah because it's quite a good one for Collectibles so they just release you know yeah so basically generous Revenue that's why they keep doing it Aleman probably issues more stamps per capita than any other Nation so it's all for stamp collectors because they do stamps yeah honestly I think there probably is to the them going right um guys I've got an announcement I'm not collecting the other man anymore because they're just doing they're printing too many stamps not some inside information do you have an answer monkey yeah it looks like I'm on the Royal Mint now and it looks like every single one included in the Hogwarts limited edition ones all have a king's head on them at the minute I don't know I tried Googling it to my eyes do they have it on like the flip side of it then and yeah the tail sizes like the decorative side yeah I had standard size okay so what about a Bitcoin on the tail side I know that's why that okay it leads on nicely to the Hogwarts one yeah rabbit one on my desk and I also I think there'd be kickoff on that Bitcoin with a royal Thumb in the milk so there's already real family members like an anti-establishment and the ultimate establishment so you're saying we should be against the royal family in the UK yeah yeah because we're bitcoiners this leads we've seen King's uh new cookie collection costing eight million of taxpayers money yeah ever smokes me sick as well because the duchy of core model is absolutely one of the biggest landowners in the UK a massive profit he's the biggest Center it's the biggest thing no is it not no who is is that or is it uh Dyson he's up there yeah yeah anyway I don't want to go down there um okay I'm excited if I die something yeah um so just another one to have dropped nfts Elon Musk oh just this one was very quickly just to throw in but even though it's any kind of jabber it's not really Bitcoin I don't know what it is it's not Bitcoin related obviously but obviously Twitter is bitcoin's community is heavily on Twitter so obviously it does impact um Bitcoin in some ways depends on Twitter's Direction um but they're only so it's a collection of things this particular headline is only paid subscribers will get recommended on the Twitter for you section yeah that's for sure now kicking in on April I honestly think we're gonna have to just pay for everyone and get blue ticked and well have you not seen what's happened now if you've seen the the us or the um yes the government's refused to watch yes yeah the White House is refused White House and they've all got gold ticks though so does that not yeah I looked at the New York because you've got them go again it's now got a clown on it I think no I went to it at the time and it had a gold monster yeah I saw the screenshot of the clown and then I went that means they did pay though no that's the Legacy corporate corporate one's a goaltic isn't it it costs like a thousand pounds yeah but you've still got to pay for the gold tip so once I really don't have it anymore yeah they don't have it I had it yesterday because that's when I seen it they just got the clown on it now no not they've got nothing no New York Times are mine has a gold tick still yeah but once once the deadline passes I don't know when the headline is when you've got to pay these people are refusing to pay so the White House is refusing to pay can you imagine then the White House fake accountants does that play into Trump's hand as well platform yeah yeah it's not Baltic so I I it's going to be interesting to see this player yeah they are right you shouldn't have to pay I think was it um it was a UK guy was it no it wasn't it was um was it William Shatner random as hell but William Shatner he was moaning out and saying he's refusing to pay he's put a lot of hours and time into Twitter for nothing no he's not getting paid by Twitter to do that as he obviously and he's creating content effectively for this company Twitter who is effectively making money and monetizing the back of his celebrity social media platform it is but that's the point why do you have to pay to be on you shouldn't have to pay if your personal content is already being monetized why are you then having to pay to have this company monetize you as well yeah it is a sick business model where everyone else provides the content and then you charge them for providing their own content it's mad it's bad yeah yeah I wouldn't pay but said this at the beginning didn't we and this was the whole thing but it's how is it a slow and steady death for Twitter well they leaked the algorithm well they didn't get leaked it got published in there and that was I mean it's stuff we already knew but it was fascinating it was even worse than what we knew yeah what was the biggest one that you surprised you because I thought it was all pretty obvious I thought retweets would give you more weight than likes yeah because I was celebrating retweet and I was blase about likes because I should be celebrating the likes see the way I've always done it and I don't I've not done this necessarily on purpose in knowing and understanding that part of the algorithm but I've always liked things and then I'll come back like an hour or two later and retweet it right to make sure it gets because I know when you like something it still appears in other people's feeds so let it have that time in the feed and then retweet it to reput it back in feet so I do generally do that anyway but I've done that just from that logic in my head you called it I had no idea about that yeah fresh images play big part don't they we always knew that didn't we and links we always knew about link yeah link external links yeah well they don't really do an internal link there what do we do external link to this podcast yeah how many times have I said that's why no one watches it no you put the Tweet out saying new episode or whatever and then in the secondary tweet below it you then so you let it this is why I like this okay and then the link in the second tweet below because the first tweet then can go off and hit the algorithm correctly okay I'm not sure how it works for having the second tweet but that's where you'll see a lot of news people like the Bitcoin archive that guy in all them ones they do this where they put the Tweet out on the headline and just text yeah nothing else and then like eight hours later they eventually put a second tweet on the link to the article that's really frustrating suppress the original tweet yeah but then from a user from a user experience it's a million as hell yeah yeah all these accounts just play in the algorithm yeah then actually catering too yeah which is actually then it's what it's fault because they shouldn't have the algorithm like that but they're refusing so they've done the algorithm to keep people on Twitter rather than go away from Twitter yeah and just spamming out links to the same new source yeah um so they need a better way to handle it but the minute they don't and that's the way it's historically as far as my understanding is it's always been that way um just try and get everyone else get your Twitter handle in there to prioritize all your tweets see if it gets merged I think there's already been loads there's loads of people jumps on it and it's interesting though because the nostril thing really I don't think that's taken off as well as everybody thinks it's done I've seen a lot of people being like Oh yeah people have been like are you on Twitter and you're not sure and they're kind of like well still got Nostra open but hanging out on Twitter because that's where everything is you can't Nostra is a small community at best I think um I I'm not anything negative against the open uh decentralized aspects of it which is great but the actual um social network impact you have to have it on a platform that has that reach and has that attraction already yeah I know every one of them has to start somewhere and that's kind of maybe where this has started but you need a quite a big significant impact to get them initial transaction pieces and hope they then follow on and continue to to grow but yeah I'd like to see maybe is there a way to get the stats of Nostra of sign ups because it's technically decentralized I don't know if there's a yeah you could plug into all the relays and check everyone that's ever tweeted or something like that oh you could yeah yeah and then you could calculate how many users are active using things so that I'm sure someone must have if that's possible then someone out there would have done that and we'll get stats of the users and see the user base and see how active is and over time see how that plays out because if you compare that to the original Twitter uh you can see like the Twitter graph and adoption is like yeah crazy um it was frustrating just feels like every single thing in life is about to disagree you've just been rug pulled by Twitter yeah yeah that's it yes well that's what William Shatner's points has put all this time and effort into create a following on there I don't even have nothing I went up to space with the inversion Galactic yeah Jeff Bezos that was a very funny yeah it wasn't virgin collected yeah yeah he was getting all emotions Jeff Bezos is a massive star campaign yeah um his point makes sense you know he's put a lot of time and effort into creating this following on there and to give them content and to bring people to that platform to follow him which you will do what do you think about school I'm sorry this is a tangent so I've got a better Point than that yeah so then what do you think about them potentially yeah then potentially they're saying they're gonna pay back their creators from the monetization they get I don't think they brought that in yet yeah I know that was meant to be part of the plan that kind of counts it was a return just no almost impossible like you wouldn't pay enough with it I thought that it doesn't add up but I just remember them saying that it wouldn't because if everyone pays Seven Pounds to have a tick and then then ones with ticks can get money back then you're just giving that and like like not everybody's on average gonna get that seven pound box there's a lot of people paid in it's whether they give advertising Revenue as well away at which point at which point why about the charging because it's in that even in the airplane so you may as well not charge and then just give Revenue back from the ads which they can't afford to do anyway because that's why they're bringing in the seven quitter a month so it kind of defeats its own Point really I guess um but yeah it's it's worrying a little bit in some respects for the Bitcoin Community side and where that then goes to and it's not necessarily like okay there's Nostra and all this you can argue and we've still got Reddit and you've still got the Bitcoin total forums and you've got the old school ones but new people when new people come into Bitcoin or come into the industry they are theoretically the the reach is already there on Twitter they a lot of them already have a Twitter account they can then dip in very easily and they still use Twitter for other things they they will not know to go to Nostra they would not know to go to bitcoin talk for them or to the subreddit on Reddit they don't know them things really um it's kind of you if we lose Twitter in some respects you will then potentially lose a bit of a reach to the outside world as well and you end up going back inside the bubble and so it's it's a little bit not worrying but but Twitter in itself is this kind of own bubble um they talk about that in the algorithm in terms of the book you're in like they group you and if you and if you tweet outside of what you're normally tweeting about then that gets hampered yeah so it's all it is creating centralization around Bitcoin bubbles but it's easy access even though you like you might say it's a bubble there's still billions of users on Twitter isn't it so you've still got access to them people then people have access to your tweets if they just look for hashtag Bitcoin they will see Bitcoin tweets they're not going to go out the efforts to go and download Nostra and play around oh no I agree on that yeah and they won't know to do that that's part of the problem they're already on Twitter for other reasons so that they're already there so I think and then the education piece on it if we're the whole Community moves off Twitter and onto Nostra for example then outside next cycle comes around the the new crowd comes in on whatever that platform is which ends up being Twitter for example for the last one and you're there to help educate them and help people whereas this time you potentially wouldn't be I'd probably see it my guess would be mine just migrate back to Reddit a bit more maybe initially because it wasn't always on Twitter either was it really was the big one but I think the Reddit sawbread's got over three million now which is mad it's still not it's messy it's still not on the scale of Twitter it's not great interaction a lot of people are not on Twitter and just use Reddit so they might find it and actually um it's not good for the outside world I guess but some outside world are on Reddit and not on Twitter reddit's massive yeah but also they're not in that particular subreddit which I know you just go to yeah yeah figure out but it's it's not quite as easy conversational side it's scary yeah because it's just like oh oh it's got a reputation for just yeah yeah Charles right people coming after you well it's where it's got a reputation for just toxic um negativity I think all social media yeah yeah oh yeah yeah absolutely should be interested yeah I think I'll just quickly on Twitter I did see a tweet that said about the fact that uh Elon had fired like 80 of the staff and Twitter's still running at least so oh he'll make them profit I was a little win for him he could have made him profitable without doing the seventh chord it's sat firing 80 of the staff which is their overhead that's their big overhead so maybe not quickly namely but why would it matter I wonder if it was a bit Yeah they initially lost a lot of their advertisers but obviously hemorrhaging yeah yeah but he brought that in very quickly knocking off the 80 of Staff straight away and if they can maintain their revenues then they would have been profitable as a company if they've lost advertising it'd be depend on how what percentage they've apparently got them all back now but initially a lot of them did pull out yeah so I don't think that's an easy decision to make in terms of the charge I think there's more often it's necessity but it's ridiculous it just makes no sense to me well what if in a year's time there's as many Twitter users and they're a profitable company because we know how many seven quids there is out there there's a hundreds yeah I prefer seven coins there you go it's probably a growing number 700 000 a month revenue and they're losing hundreds of millions now the necessity of it is becoming more and more important to have a blue ticks and people more and more people will pay well people but most people won't you need even if you get a million people still seven million a month it's a drop in the ocean for what they're doing as a advertising platform probably slightly different but I hate when business models do both the advertising and the paid I prefer them either just move everyone's paid yeah or not I don't want to be paying and then see adverts yeah yeah but same with like times going that way like yeah YouTube or like boxing pay-per-views are kind of the same or like whatever you pay for and then you just get nailed with ads anyway huge yeah YouTube's going more and more pushing people more and more to a paid version yeah because the ads are so irritating now and so frequent we didn't used to get them in the element much we are starting to more now because the other man used to sit outside of the YouTube's algorithm I think forever it's like business model but being incredibly grating that you see premium as being an alternative to avoid being annoyed yeah Spotify if they just moved entirely to it's a paid service yeah my YouTube channel Twitter all right it's uh roughly 4.6 billion yeah in 2021. there you go 4.6 billion Revenue so you can get the point here you might have a point so yeah yeah I mean advertising models you need to make money you need a billion people don't tell them so you wouldn't need a billion so it's because I think it's seven quid a month isn't it not a year yeah that's one time so you get what I mean it's just currently it's a drop in the ocean but it won't be forever even 100 million people paying for the seven quid you are not going to make as much as you would from the current advertising this is why I liked yeah is it a month is that month yeah it'll be 700 million dollars a month about what was that for four billion 4.6 roughly this is huge numbers to do it you need 100 million users to outpace this is why we're seeing the opposite one of like Netflix who do a monthly charge and now I'm working towards also just including adverts because the advertising revenue is just unbelievable they're bringing it in the lower tier yeah yeah so they know the advertising Revenue just outweighs massively what you can get on them I honestly spend a lot of my life avoiding adverts so like I've always skipping like trying to I would turn over a TV channel but that's what came on I think everyone does that yeah yeah like often do something different yeah it's very annoying most of the time when people go make a cup of tea and go and do that it's like you don't watch them anyway no and YouTube you're waiting for the skip yeah to come up so you don't even pay attention to what they are yeah yeah you're more focused on that yeah as soon as it gets done the five second skit right should we move on anyway yeah what is it well it's just in terms of the Bitcoin Community you can Loosely call IT Tech our community is on there and it's a risk to our industry that we lose that at some point yeah and lose that education because that is a massive educational area that's where um even it can be toxic and can be all sorts of things but generally it's it's positive from an education Point talking to people yeah um SEC chair uh Gary good old Gary is testify in Congress over his approach to regulating the sector cryptocurrency sector that's a good thing yeah no um you can't just be allowed to wield his acts willy-nilly he has to have some culpability I think this one sits under two things for me of one yes yes it's a good thing but I hope that this is a they're doing this properly not doing it to appease the public and make it look like they're doing something no chance you're gonna have such filibusting in there of people remember they do a Zuckerberg had one two years ago yeah a nonsense but the Senate was just reeling off things about his almost local area so it looked like all this Center this is really and it was like a five minute question and almost like a yes or no question for Zuckerberg yeah but the guy was does it access your home Wi-Fi network and it's just like if your Wi-Fi is turned on the questions like the guy handled them really well but it was just it's the same shirt like just yeah I think and that proposed ban is scary as well so that's the VPN Subs in there yeah if you access Tick Tock via VPN you can get longer than a live sentence it's 25 years it was ridiculous I don't believe I don't even know what they banned Tick Tock but you access it via VPN in the US you can get 25 years plus to sit out the matches the prison's absolutely I just I can't it's my oh excess on my phone it's just unbelievable I can't believe that they're thinking that it's just crazy why have they not done that for like Netflix and everything else and like all the streaming channels because you've been able to use vpns together yes like so because they're not Chinese yeah it's actually yeah um so I think it's pretty poorer than that foreign Association of South East Asian Nations considers dropping the US dollar euro Yen and British pound for local currency all of them yep oh for local currency Financial settlements oh I don't like that that sits in with what we were talking about earlier on wasn't it the global Reserve currency we've seen a bit of isolationism so these guys are different to the bricks guys right I've not read this so I don't know I have not read this I know about the bricks that's why I don't tick anything to hear Danny try and pronounce it well worth it my appreciation pronunciations um but no I assume those guys are different to the bricks guys because they're different people so everyone's just dropping everything everyone's just coming away from yeah well this is a massive migration away from dollar back to local currencies or a potential new currency that but while they're doing that the distraction of bitcoin's growth is great so we see it is sneaking in there it's yeah Trojan Horse Bitcoin will continue to Trojan Horse its way into all these countries and it's not just into the country it's into the business where we know this every day we still work with lots of businesses behind the scenes who are using Bitcoin to make Global Payments so um more than ever especially we're saying globally that is increasing massively at the minute so as that increases we will naturally see more and more private businesses around the world using Bitcoin for global trade and Global Payments so especially if a lot of them are migrating back to local currency yeah then yeah but that for me is like a trigger it's like a red flag for hostilities because the governments are not paying attention to that properly and these they're too busy distracting themselves with who's going to be the next Global Reserve currency and pulling their way over the power away from the US so while I battle out between themselves over the next 10 20 years bitcoin's growth will continue in the background and then it'll be too late Bitcoins the world to reserve currency there you go Dave that's hustle gonna play out spell out okay record that now record it and then we'll play it too in 30 years time play this back 30. you wouldn't put attack did you say stuff yeah about 30 years you'd be well under well underway by that point um but as well which we didn't touch on before the global Reserve currencies often there's two that kind of crossover and as the migration period happens so the US dollar could cross over with the Chinese one and over time Chinese one not the Chinese one yeah um so that over time that will you know this could be like a 10 20 year overlap transition period where they yeah when this happens um and this generally in the past it has been like you know decades transition period rather than over but in a transition period like that Bitcoin could thrive in a transition period as well hmm I have to read about what it means for Bitcoin to be the global base currency go and watch the best video is probably the one I sent it around a year or two ago um what's it called uh he does the video with that you know the chart that has the not radioactive yeah I've seen all his yeah got you watched the global Reserve currency on the face that's a good way to explain it so no but that's fine yeah but it's the the what does Bitcoin look like if it's a Global Currency well there's the no country has control over yeah but I don't know how that plays out well no one does because it's never happened this is the first time but it worries me why because it's never happened before so how change how big things happen to you yeah that's that's pretty cool there's always been one nation with the controlled the global base it doesn't have to be no just because it's the way that's been done historical doesn't mean say it's the best way for it to be done that's those words are absolutely done but what does it mean like like does has control of a global base currency of what meant that conflict's been avoided or yeah because the world in itself factuals is improving and has always has been constantly improved the last century where we've had stable monetary policies that's probably not a U.S the reason it's probably not a U.S driven thing it's just a technology and Innovation driven thing which okay you could then start to pull back to does that is that because yeah stable currency and the money flowing in and all this sort of stuff but um also population is increasing which means more people are building things and doing things so for the population but the population has been allowed to increase because you know people got better Medical Care the average life is increasing right Technology Innovation things change things have improved um more women to get educated which fundamentally is the most important driver of Global growth well when did this turn into a feminist party yeah that's a fact yeah anyway is that it would be something I would be quite concerned about as a 70 year old scared and worried about it actually you're not worried about anything no yeah it's all good Elizabeth Warren's 74. be quiet and yeah she's got she's blood he's got the anti-crypto Army going so maybe but I think this you don't we don't know nobody knows what that's gonna look like but I agree it's good to have the concern because you can then play out that concern and see how I think I'm concerned about anything though yeah well you've never mind I saw a guy Dave are you concerned about that no no so why not no because you know other people have done it before yeah so this I think yeah it's right to be concerned in some respects to highlight the potential downfalls and then you can mitigate and handle them but I'm I'm probably more worried about the transitioning period between the dollar and the the Yen will that be then usually that ends or begins and kicks off a conflict we're kind of seeing that with the Russia Ukraine in China yeah let's keep it light fluffy fluffier podcast surely I was gonna get yeah what's the next one which should we just skip this don't go any further down are you worried about that could reacts more aggressively towards Bitcoin yeah so yeah it could be bad so yeah do we do we need to antagonize people no yeah just Trojan Horse IT background sometimes you just wanna make a statement though stay humble it's very hard of people that are into Bitcoin it's like that old you know Meme where you just does that get everyone's partying in that Bitcoin in the corner then that applies to up to everyone yeah or is that they're thinking about how do you know someone's vegan oh they'll tell you about it you know someone's in a Bitcoin they'll tell you that's true that's not true like I feel like I tell people less and less I'm into Bitcoin because you've got less and less friends people have moved away that's true that's true oh that's the orange pills you know what I think a little bit though is that I think that that Meme in that sort of mentality doesn't um it's not accurate to everyone I don't think I think the British is less so I think American are more outgoing for example and they will tell everyone do that but I'm very reserved about it and I don't really tell people about Bitcoin if I don't know them a meeting for the first time and stuff all right so you're in a group discussion and they start talking about inflation how quickly are you bring it up Bitcoin I can talk about inflation with them I can talk without mentioning Financial economy side and you're not mentioning Bitcoin in any of those discussions I don't need to no but he takes his jack off at the end Plan B yeah I could of course you could you won't even let me talk I definitely wrong with the conversation with you I'll walk away um but you obviously yes you can but you wouldn't I wouldn't need to say oh yeah and I'm I work in Bitcoin you know you would just talk around Bitcoin and while that is then at that point but that would be because they're talking about flight it's a very rare conversation that I would ever talk about inflation with somebody costs of living now is like it's quite top topic cost of living in certain it depends who you circled on are you talking to I guess because a lot of people around opinion onto people because it's just do you I do yeah I don't really talk to people that's the best topic head down but yeah it's a bit called my type for me I don't force it on people I think that's wrong to force on people I think that's wrong to um preach at them about something it's the bad it's the wrong way to onboard them their best way to onboard them is when they have a need and requirement for and it fixes a problem with us no don't know about it being able to fix any problems you can talk around like what if they ask and you can talk around what it is and what it does but I wouldn't turn around and say yeah you should buy some it's like the same for anything but if somebody wants to someone's only gonna get into like health and fitness when they want to or need to then if you're a CrossFit and vegan preaching that yeah frustrating my wife had a main round and she's talking about getting a new savings account in a bank and as I walk away literally I was in another room [Laughter] what rate you're getting from the lounge three percent I said what's the point so it's not saving you know you're going to get done by inflation that's what's really bad yeah Bitcoin is about inflation Bitcoins are better savings technology is what I end up saying to these people but I guess I don't know about it savings accounts you put it on the radar which I I'm with you there if they start to say it talking about savings and interests and things like that then of course yeah there's opportunity to bring it up and have the conversation okay but I wouldn't be telling them go and buy a Bitcoin I'd say actually what I do no I didn't say that to be fair I would always say this is what I do and I wouldn't ever see how I do it same with pensions actually the conversation on pensions actually the weekend but um with somebody but that was like you're not talking about like here's the pen like actually my affiliate instead of having an attention you are going I don't bother with a pension because I buy Bitcoins one I treat that as my pension and then that way oh why and then they'll ask the questions around it well yeah four hours later they'll be like this yeah it depends yeah okay but yeah everyone's got different approaches to it everyone's opinions are different and every one person you talk to will be different because some of them might just think oh yeah sure leave me alone some of them will be that interested in buying um yeah approach it differently we'll get them all eventually yeah they'll get it when they get it that is the thing there's a new saying no I mean this is how piss ball that saying is you get it when they get it well they will well it's a Toshi quote or is it healthy it's like I haven't got time to explain it yeah he's the one that said have fun staying poor that was that was that was Udi yeah blaming everyone saying they're using it in a toxic manner it's like you started it it's a good one it's a good one yeah anyway don't use it is that the agenda done uh pretty much this is that quite a talk on something did you Saudi oh just the bricks um oh yeah sorry that is uh was it Brazil Russia India China and South Africa I don't know how South Africa sneak in there where's Aaron calling me on the scale they've just been up no no no they're in there yeah well they just feel like I don't compare them um but they've just been added to the gray list haven't they buy uh from a sanction perspective because of their relationship with Russia and they continue to do things with Russia recently so I think they have ties anyway they came out and announced that they're going to work on a potentially new currency that they all trade in and just announce more trading between themselves in their local currencies um and then Saudi and China have come to an agreement to build a oil refinery together and Saudi this is what I want to get you guys opinion Saudi have announced they're gonna mine less oil I was wondering why didn't really say why can I just can't see the price that's what I thought now they're moving to their own currencies are they then not mine as much than the supplies with that currency yeah the currency the value of their currencies go up then at that point Central um interesting so they're making moves in the oil Market um but no I think it's a good thing that the brics nations are you know it's like the Euro isn't it that's as much it was built to help those trade between the European Partners there's no reason why those breaks countries can't be doing the same yeah why do they have to be in the same physical Zone yeah around the world yes I think it's the discussions on Mexico joining them as well I think yeah that'll be a big one as well if they do because they are some big populated countries it makes sense isn't it because the G set actually they're overtaking the G7 in terms of like training volume now aren't they so and they're not allowed in G7 discussions which is like the world economic Forum yeah well they're not in the G7 so that's the G7 get together and discuss oh so these guys are like they don't have their own little groups yeah they have their own this group it's like the outside group is now that now they're becoming the big boys but yeah this goes back to what we're talking about the pie chart and the bar chart how much is the US one gonna come down when the all these guys with all again trading and then yeah and the percentage of oil is would be interesting to see what that is so then are you gonna get like a bigger push from the states on renewable and not not requiring oil as much because they see this coming well that might be a good thing yeah yeah and it might be a good thing just interesting isn't it well and surely that's the end of the agenda it is the end of the agenda not say anything more as well question questions he's had his word allocation is there any coin calling user to get to that after this oh if you've not got the list of you this doesn't give it to me they didn't I sent an email you did call in business last week as well sorry they don't listen so yeah I don't know they're going twice two two digs there I don't need to give a shout out can we have a little shout out segment back to me on the news number one brick Corners fan Jess Ward no yeah thank you really I said I'd give her a shot very nice [Laughter] took the kids his Matt's doing his racing bits and pieces yeah yeah bike race if you're a bike racing they loved it yeah yeah they got Matt's autographs so they think Matt's a proper racer he is yeah and they've got a photo with him really pleased with them oh let's be good one to watch Matt's racing career employee anyway question all right done right for businesses considering accepting Bitcoin as a payment mechanism how could you pitch the advantages of This concerns I've heard most often are exchange fees and the fact that takings need convert need converting to fiat-paced staff bills suppliers with another exchange fee so um the pitch thing definitely yeah what was the benefit biggest benefit of merchants accepts in Bitcoin experience the same question well [Music] yeah okay please be a nice fun question this is but I screw up then don't agreement God evidence which if you were a British as a step in the right direction if things are changing and digital currency is the new normal then why not choose Bitcoin instead because they don't have control yeah it's completely it's simple it's completely different system a completely different offering nothing really digital we already have a digital pound let's be honest we do everything digital already we do um so it's a cbdc is it's a buzzword right now still it's still just another word for we're pretending we're cool and hip like the rest of the countries out there doing the same thing but actually we're just recreating the wheel before we already have there's certain economic differences obviously if they have access to push it in circulation and remove it easier without the banks um so they can figure out if they end up going direct to Consumer and cutting out the middleman of the bank um with a cbdc well they've already kind of shut that down themselves by saying they've got limits on yeah yeah and it'll go to Banks first to go over to which point you kind of background in the same Bowl currently makes no difference here's a question do you think we will ever see uh cbdc a British pound cbdc backed by the bank of England I mean they've got that guy haven't they head of yeah will it just be a passing I think you'll see it yeah but it might be late because it's not there wouldn't be much point to it but it's a safe face but I think that the deeper question really is like by advocating for Bitcoin we're saying that like we should separate a currency system from a government essentially that's what it boils down to so it's a much deeper question in terms of what that looks like and how that works in terms of control of the supply should it even be the case that we see right now that governmental control over has has control over a currency and we would probably say they're not doing a very good job with it at the moment or are they open to interpretation anyway I don't leave the listeners with that with that pondering yeah I think from my answer that question I already said a few bits but the main thing for me is when they're ready to release when they're ready to release the detail of this I want to see a pros and cons list of the pros of this because them Pros will either already exist or they won't really be Pros Stormy Daniels making his demands well we are the we are paying them to do this I do think citizens sorry we may see political campaigns running off the back of pro or Khan cbdc's in the next kind of election cycle which will be interesting to see the Public's reaction to that which is what you see in America already yeah with like um the sadness yeah in Florida and that kind of thing it could be a big part of the next election campaign for someone I think but it's a hype yeah the problem yes so it'll be interesting to see how they sell it or if they're empty it how they yeah which is what I'm going to see how these salad Pro for that CBC that doesn't already exist right now from a digital perspective and actually will benefit because all the things you see is you see the channel ones and they're restricting how you can spend the money and what you can that's cons that's negative everything's negative there's no that's a good point I can't remember seeing the pros yeah because there isn't anything other than the Consumer you'll see what we have to do what they call it yeah you'll be safer you'll be more control of your money it's words they don't mean anything well that's not mean though for you so for all the politicians doing dodgy stuff if we if there's a central bank digital currency everyone will be able to see that no because it's not an open transparently it's not a public then it's not like a Bitcoin public Ledger or anything oh yeah you won't be able to see all transactions no um the only Pro I initially thought which is now not a pro would be the whole if it's held directly the bank of England and you you could hold more than the 80 grand you can in a UK account and it's protected but they're putting limits on it so you can't and you already have that with the likes of revolutes and things yeah yeah fully backed Banks fully bats institutions rather than so it's more of a just a con against the banking system rather than anything but so yes there's no no Pros I see at the minute that would make me once well not to go ahead so no please no thanks do we have a new Merchant of the month not this not this week we're still uh you could do a little jingle yeah it really doesn't do well I'm in a new month yeah but um uh yeah unfortunately the one that we are gonna have don't deliver to the element so I've got some but they're in the UK um the one for next week I'm not gonna reveal now I can't spoil it yeah the other one that I try to line up doesn't want to be a sponsor until later in the year I mean they're they're a summer a summer um oh that might be the one I'm thinking of then oh I was gonna say can we just show that one now all we've got here is a box so it's not like we need anything here attempt still spraying still spraying it you're not in the worst advert forever you're sick again are you kidding me look how chilly is actually I mean it's true I've improved you're a whole new guy and work it out yeah a little bit would I've been working out if it wasn't sprayed I don't know I don't I don't think so maybe it's a mentality thing when I've got this haircut if it wasn't for her who knows so it's their fault new haircuts and working out yeah change man cool bye with the Bitcoin coin collar news and did we not have anything um well the announcement that I was going to announce last week didn't go live so I got nothing to announce there and that's taxable it's not my phone did you get you there like I said before I'm just a clipped bird at the moment yeah in marketing I want to fly but I can't all right Lots about you two two new beginners today two new team members today um [Laughter] Matilda thanks Redemption as well as new prisoners come in just before they beat them all up they say fresh meat that's this afternoon's agenda that's the initiation isn't it just jump on them uh yeah it's exciting it's probably all I can say is I see my problem cool yeah guys thanks guys [Music] foreign