Greenpeace Anti-Bitcoin Campaign Backfires | Britcoiners by CoinCorner #82

Transcript

yo you're back I'm back welcome back Danny welcome back that's not what you were saying on the podcast anyway let's move on it's not about me Dave is it nope big old agenda this week that Dave right it was the genres of that agenda price it's a big one price merch of the month uh Signature Bank being bought um coinbase looks to be about the US um Florida Governor looking to ban cbdc's JP Morgan and the rocks White House saying there's no fundamental value in crypto Indonesia to phase out Visa Mastercard Russia to use Chinese uh Bitcoin out forms 97 of the S P 500 companies in 2023 Greenpeace and the attack on bitcoin and Kenya signs with Saudi Arabia and UAE for oil but that's actually fake news I think oh wow yeah I mean let's release get through the rest I didn't hear marks that before we got to it but I think eight years I didn't read it detail that's been missed out oh I think I know that detail yeah that is just temporarily postponed right how about we okay we'll come back to that yeah stick to the agenda my bad price call you Dave I don't know what it is 27 700 I'm Reckoning 27 800. it's been that static for the weekend I think we're about 28 now though we since this was printed uh no because I just sent out the price email it was 28 when I had something well it's around seven unless I'll be two 27 yeah but like in by the time I read it would be wrong anyway yeah it's true okay as close as it can be yeah just not a thousand dollars out so how did what did it cycle through this week what the what events did we have for the the we had the rates increase we talked about that the last pod where we thought they the American rates might go steady their banking crisis but they stuck to their guns they said it would be a 0.25 increase and it was as was and the market didn't really it wasn't much of a reaction was the case was the same wasn't it so they've all said this is our plan we're sticking to it yeah price uh pre the announcement just pre the announcement it went up to just under 29 000 yeah and then it just came back down and the rate increases I always bring the price down um yeah I think but this particular scenario was a slightly different one isn't it because it's not quite normal were you thinking like a rates increase would cause more banking problems with even more bullish on bitcoin which might raise the price yeah which is what's happened at the weekend as well there's been us now have said that they are looking for an option to bail out all USB backstop every deposit banks I think I don't know if it was us yeah so they are looking at that which means that it's time to open a bank in American Girl absolutely mental isn't it yeah just do anything and then you know yeah we'll be all right yeah staff parties at those banks will be phenomenal the bonuses will be crazy anyway yeah they always have been anything so but now it just doesn't matter crack on boys expected slight movements slight differs but is what it is static price pretty much okay um nothing this week that might affect I guess what we got this week there's no major announcements there's a couple of us uh UK budget comments this week that's nuts this week I don't know yeah that won't do anything to it no I don't think it has historically has them um there's always a potential banking another Banker remember well I think there's a couple which bank is looking that's been bought has it yeah UBS bought Deutsche Bank so you just said no they bought credit Swiss oh sorry yeah yeah UBS yeah sorry I've done you've had a few days yeah when they were the ones who came out recently and said oh yeah everything everything's fine which is the classic it's the big red flag what are they supposed to do is everything fine what would your responsibility no come on there's no good response to that question no no so yeah let them get on with the parties and the bonuses yeah Swiss given all their bonuses so they got pulled out as well yeah disgusting but yeah they were trying to argue I think the point of them bonuses were from the previous year and it was like well it's owed to them work harder yeah the price right anyway so yeah the first agenda point I guess is banking anyway uh New York Community is that just this morning uh they've agreed to buy Signature Bank but have kept out the crypto clients so the drop in the crypto clients and taking the rest four billion in crypto they're saying keeps four billion dollar crypto out of the but I don't know what four billion dollars is what even is that there's in deposits is that in the bank's cryptocurrency businesses they're execute 200 billion in deposits only four billion is crypto for this crypto Bank it makes no sense and does it I mean you would just cherry pick if you're buying something it says I got 60 billion in loans the okay as well the reason the kept scripts about is because they were told to by the SEC was the thing that was the rumor wasn't it that yeah the only way they're allowed to buy them is if you leave crypto up um but that's what I'm highlighting there is the point of actually if they had 200 was it 220 billion signature oh no signature wasn't it yeah yeah 200 and some billion in assets under management that means then only four billion of that it's two percent was actually crypto of their whole business which is Tiny so you know it's not really crypto that made them fail was it so why is crypto being seen as a high risk on there and they're not using it that's good questions yeah I did read it but I can't remember the numbers they had all the numbers in there I can't remember the numbers please the latest deal about New York Community banking comes as the assets of the bank which stand at 38.4 billion and 12.9 billion in loans however one thing is left out and it says apparently 60 billion in loans and 4 billion in deposits from the bank's cryptocurrency businesses are also excluded from the deal so that's 64 billion total but 60 billion that is loans and they've not took them loans on no so what happens to them normally they go into liquidation and try and call them back I'll save it see what it says pardon maybe just drive it off someone else buys that yeah part of the business the crypto they're trying to drop on this is that's in just the deposits isn't it so they'll just be sent out to a new bank it doesn't go on to say is that from today literally this morning no this was early last week I think like last Monday yeah 20th of March was svb this morning as well I saw that one this morning um is that on here as well we are all over the place so yeah it's because there's so many differences I'm pretty sure I just saw tweets they're all named the same acronyms in there yeah I thought it was sbv got bought for 500 million just this morning I've never seen that yet then okay I don't know this could be fake news breaking news I had seen that something to do with them this morning being bought and I actually need to fact jack it because I don't want to get spread on feet but I don't think it's unusual to drop portions of the banking out of the deal right this just happens to be crypto and we see it as an attack I'm not saying necessarily it's an attack I'm curious to if it was the SEC that I've said keep it out any buyers got to keep it out if it's such a small percentage of the deposits clearly it wasn't the crypto side that made them go pop is it something to do with crypto no so that highlights to it that I actually yeah no situation that we talked about yeah no we know that but then the people are trying to spin it aren't these conspiracy against Bitcoin and crypto and it's crypto of why these banks have failed that clearly shows it's nothing stupid crypto that's why that's failed okay yeah sorry it was bought this morning by First Citizens Bank shares whose arrival but I didn't I don't know it doesn't say how much it was so be interesting how much of that deposits as well are crypto because this is the thing if if there wasn't a sat there on crypto and they're saying oh these banks have failed because of crypto then actually you know this these numbers they're not actually saying that he was saying that I think the whole Twitter's been saying hasn't it for the last couple of weeks are they um well it's the whole place maybe just the whole is wrong but essentially yeah it's just interesting yeah I never believed that reporting that I don't know what they are but they're reporting was like the crypto friendly Banks aren't you that's the point the the making it sound like it's related to crypto of why these have failed so they all they all report it as the crypto friendly banks in the US are failing and that just indicates they're failing because of crypto which actually has zero to do with which we'll know what it's got to do with that's being kept out so yeah I don't know whether it's just attack it's just crypto makes good headlines or it's just miscommunication and misunderstanding of everything um and I appreciate us we're aware there's so much going on right now there's no real right or wrong answer to anything so what does happen to the crypto side of it then obviously no one can come in and buy that if they're not gonna let anyone I think they probably could um it's just not that big Bank just not this Bank yeah well we've not had official yeah it's not beneficials some sort of statements around it I can't believe that was from now um well then I'll give them back to the Bitcoin businesses the money yeah yeah of course yeah yeah but then after they've gone open in a bank account elsewhere and at the money center okay it's all happened there but if can somebody come in and take that customer base um and support a customer base which I'm sure somebody will anyway because they'll just open accounts up in new places and somebody will come in the market will fit the gaps because there's quite a few big Bitcoin businesses that had signature bank accounts right yes so is that their money is that title yeah yes interesting I think they were still able to withdraw from signature worthy I can't remember I think they were I think they kept that running the signature all right lovely it continues anyway we've been talking about it for about three or four weeks on the partner becoming boring news now yeah yeah my phone always slides out of this my pocket Dave said this morning as well just to like we'll talk about Dave for a minute because I think he's been good he's left out here not being spoken about no no this morning and said this is 100 you wasn't it right you were at 100. this is Peak Dave right now honestly losing an hour that why are the clocks buddy move Lithuania uh in a bit Civil War at the moment some people have are not abiding by and some people are what time do they meet for the battle not me I don't think there's a real battle though yeah but isn't it good when it like goes like forward and you're just like what yeah like there was talk of the UK scrap and it wasn't uh is that a year or two ago it's a historic farming thing isn't it like so you could get out on 10 crops in the morning I've never I've never got up intended any crops so why am I getting bullied I mean it's a it's a pain for a lot of things but on the other side when it goes back you're like oh and you have to push back bedtime because they're just not tired no yeah I'm with you Molly it's absolutely chaos scrap it yeah it's made me very tired probably not 100 yeah I'm very tired wow no it does it froze you're a killer you told us this morning the first thing you said is I'm at 100 this morning yes [ __ ] you're just lying it was an absolute facade so no but for the visual listeners Diva's getting a haircut this week aren't you yep Wednesday right from now on I'm gonna right my wife said fed up at the Trump look because I do look like a child will look like champs yeah this is a Professional Organization our standards are high but our personal standards could be a lot higher I'm looking around this room wow [Music] he's got your t-shirt on I know it looks class Trump gave me this found it but yeah some shirts back haircuts neatening up kind of look like a frat boy or something I'm not sure we'll let you in here if you wear a shirt yeah last week you were saying though you didn't do it for monetary yeah yeah for the haircut yeah well that's gone long enough I'm safe saved I've probably skipped three or four haircuts if you take your hat off is it just like oh did I do it yeah that needs to be tamed right that is that that can't be seen why are they no I brush it as well it's just like but yeah and we can't wear a half a day back to the agenda should we move on to coinbase moving out of the US for regulatory concerts yeah um but I think that's more they're looking to set up elsewhere as well as well as the US and it'll just be if they close down certain um the binance model so many head offices all over the world don't eventually just hopping around every country yeah no one will catch them but it's what's if everything gets starts to get that get declared at security then that's where they'll probably look to jump elsewhere so they can do products that they do um outside of the US it probably won't be available to us customers at that point yeah um still but it would be available to emotions how that affects our listing the parent potentially beneficial listing companies normally always the parent isn't it anyway yeah okay probably so they Hive off different parts of the industry in different locations yeah they should do that anyway right products and things like that under a certain place in a certain country that is favorable to it anyway did you see oh sorry I'm gonna say that in a bit of a tough time at the moment I think yeah well I always think I'll wholly ignore what they do do the opposite there's a lot of um how can you ignore them and do the opposite but you know what I mean there's a lot of internal uh share dumping going on isn't it I think is it share dumping or is it just because they've come they're vested and they can't sell them that's the same as no [ __ ] it's like if you're promised a bonus in shares or the equity and they after a certain amount of time you can actually sell them yeah yeah it's an all fantastic and people call it share dump in terms of the tree two years after they've gone public now it'll be about around about an hour so it could be they some of them invested at 18 months or two two years or something um I would look at that and think Brian Armstrong sold some shares he's no longer got a faith in coinbase oh no no no no no no it's got 120 million pound house to buy so I think it's just yeah it's seen a steal on the old property man buy houses all over the world according to the new business 160 million dollars was at his house 170 million I mean how can a house be that much made of gold and I'm a big fan of the reality TV shows and there's some nice houses out by the way big money selling sunset how do you know the more I learn about you he watches it the morning longer right just back on coinbase yeah sorry he's eager to move on after that did you see that thinking this this is one of these little they're looking into something called Flat coins yeah stable coins that follow inflation it's on here I think so it's on here yeah not much thought I'd talk about it now since we didn't take it to be honest I thought I enjoyed the name flatcoin how would that work oh I don't know that's as much as I get to inflation but like I don't think they know how it works how's it different from having a pound or dollar because that also is subject to inflation so like your purchasing power declines with your pound so does it mean it rises I assume the value of it will run the purchasing power to remain the same even with inflation so if it's pegged to the dollar but the U.S inflation goes up 10 then the value of that dollar goes to 1.10 for one of them flat coins yeah I think I don't know I don't understand that's what I'm saying I don't if they understand how that works yeah they haven't put too much info but I think they're just looking for things to build do that on top of the layer two thing they say no this is let's do a coin that's pegged with information if it's on a market the market will dictate the value so it's irrelevant to what they try and pronounce look at the tether and everything else on usdc that was pegged to the dollar but it ended up at 60 Cent the other week did when that's dropped there's no such thing as pegged back to McDonald's the value of it is not necessarily what it's going to stay it goes against my grain but I did think when usdc was down there I was like it's going to get back to a dollar everyone should jump in and buy something make it quick yeah well a lot of people did it's just I couldn't you know couldn't just goes against me yeah I don't want any usdc right for any short amount of time in my portfolio cbdc's so Ron DeSantis uh the governor of Florida has called for a ban on cbdc's was it not also uh Ted Cruz also put the soccer who said Texas Texas and Florida pushing for it um so they're trying to push it they're trying to push a a new act through the as well trying to pass legislation that would forbid the use of a cbdc as money I think they're trying to nip it in the bud now federally they they can do something is this the first one that's actually brought it up in terms of like we wouldn't want that and from maybe there's a hour-long live stream about it it wasn't just yeah okay off the cuff comment yeah so it did a whole live stream where he announced it quite a little bit of that yeah because it goes against the grain from what we're hearing from governments at the moment every government's researching theirs and I think the big part of it is it's the next buzzword and it we've said this for a while now it's just the next bus like everyone the governments were researching blockchain and you know all these other things that have cropped up along the ways nfts and and now we're on cbdc's and they have to be seen to be doing something so even if they really think it's genuinely useful or whether they just have to be seen to be pretending to do something they're all going to come out and say oh yeah we're looking into it we're researching it we're testing it we're playing around with it because they don't want to be seen to be fallen behind the rest of the world doing it yeah um so I think the ones that actually then come out actually spend the time research it and then we'll see in the next two three four five years of which ones actually realize you know is it useful is it not and they'll release it you can kind of tell how serious they're taking in terms of how much Capital they drop into it remember that job that was on um and it was like a 60k a job yeah one person 66 government stuff absolutely nothing they you know they spend more on theater tickets it's just like so it's obviously not taking it seriously at all no not for this a country of 65 million people you might be right that it's just oh like this is very token gesture they have to be seen to be doing something but conversely for this Florida Governor or is he a governor yeah yeah um I think he's going to be running for president for him to if it's very easy for like a polar political opinion to go right we're we're a free we're all about Freedom we're gonna be against cbdc's yeah all right but in reality there's no cbdc threat really because the government are all gesturing yeah and this Florida government is going on I'm against this essential a gesture but I would then think he has done the research to realize there's actually cbdc is a bad thing for freedom for actual use case and usage but in terms of a threat he's probably also realized this is a good way to get some votes for my demographic which is you know the freedom yeah Florida's very much like that they kind of tend to take the opposite view of the US government on quite a lot of things is it I think unless you got Disney Disneyland wasn't hey well he's taking back that land yeah oh yeah yeah took the land back or not took it back they've reintroduced oh they scrapped off does Disney World have something in place for decades or however long it's been that they don't have to pay certain taxes and certain things they have to get like planning permissions and things like that oh okay on their land because they're allowed to because it's Disney World and it brings in such tourist attraction as as tourism and everything so they've just was it like last month they've actually scrapped all off and they've got an hour apparently else that in Florida yeah you can't have to get planet for Space Mountain or something like that planning for the happiest place in the world so yeah so Disney weren't too happy with that they'll go to Texas you don't need any plan in there do you they'll probably move and then they'll get whatever Planet they want I imagine yeah we'll come in here if Disney said they're coming to the alma Alamanda go or sold all this dark skies in these marine life yeah oh yeah yeah get your plastic there would completely change the place [Music] where would we find you where would you go if you're not here another small island that doesn't have a Disney World some Shetland area that'd be good for you yeah obviously hermit on an island in that connection on a laptop coming back to Rhonda Sanders uh I also don't let's not forget so it's great he's calling for a ban on CBD season everyone's saying oh that's great he's got the right direction everything and he's trying to go for votes or whatever he's trying to do it for always a political play I think him if you think back he trades great Florida coin didn't he oh no that was the Miami mayor I was at the Miami yeah yeah right so was he involved any of that I don't know might have been so that's it because that was there was the whole thing wasn't that Miami last year with the whole thing yeah and then they started trying to do their own coin and you know I had forgotten about that so oh he was a legend originally wasn't he yeah and then he just no more then he started isn't it or something yeah started [ __ ] going to re and then does It Go off into a tangent so I'd be intrigued to know wrong desantises was he involved in any of that is he has he been actively involved in any of these things in the past and stuff and what's he done you know it could be a learning curve for him and he realizes that yeah none of them work and it's not the way to go um someone's what he's done with cbdc's but yeah until hold my judgment on him I think I think he is planned on running for president as well so I wonder if this anti-cbdc will be a big part of his campaign he's Ted Cruz as well I'm not sure maybe well he was also playing Ted Cruz off runs every year not every four years yeah wow and he's never got it Legends I think it's the last three terms what he's persistent then um he's never actually had the full Republicans yeah so they've never picked him as assistant president what is it the nominee for the Royal Empire never makes it okay um [Laughter] quite a lot in America I think that's all the Zodiac Killer because he looks like this okay um last move on because we're time wise we're going to be shruggling I guess JP Morgan uh they had 1.3 million dollars worth of nickels turned out to be rocks LOL there's not much to talk about but it was just a you know the London Metal Exchange did like a sample test I think of a bag it's like this is just rocks who owns this rocks essentially it turns out it's JP Morgan [Laughter] I don't know what nickel looks like in a raw form it won't look like a shiny nickel no no it would be a rock I think it looks like a bag of rocks but they tested it there's no Nickel in it right someone's done them over there but they must know who it is as well surely yeah I mean they've got 50 tons in a warehouse in the Netherlands but it's however if you would do commit in that sort of fraud like it's not a perfect crime is it eventually someone realizes they're just rocks us how long has it been there we don't know could have been there for decades and we're just highlighting JP Morgan's internal controls are pretty weak well they're relying on someone else's yeah the perthman like sold some fake gold to China 's a massive institutions one billion of dodgy gold nine billion for Chinese exchange I'm billion Jesus um back onto Bitcoin White House says or crypto says crypto does not offer any fundamental value cracking well that's their opinion I my my only point on this one I was thinking what have you what notes have you got for other topics there uh nothing to do with this no oh he's got his own topics yeah no we talked about we talked about Belgium saying the similar sort of thing about it being um there's like all risk the only guarantee thing with crypto is yeah why don't you tickle them because I don't want to I thought you had too much too this is 100 down I've honestly thought you had too much but it kind of overlaps isn't it because like the Belgium government said that there's the only guarantee is risk so it's a simple sort of thing to the white outside there's no fundamental value it's just a risk play but then the Belgium government said that there's um the risks were vulnerable to fraud and I.T related risks so I was like what everything's got an I.T related what does that mean well so an it so I was just looking at what it related risk is ridiculous argument I assume it means like people losing keys and things yeah but then I was just like okay what other it related risk has there been like British Airways 2017 computer crash because of someone turned off a server that wasn't supposed to be turned off yeah grounded all their airplanes for a weekend I.T related risk does that mean you can't get a flight or invest in British Airways there's actually risking everything yeah so that's what annoyed me about reading that it's the fundamentally what annoys me about reading there's no fundamental value in in Bitcoin from the White House when I know I can transfer money or value from one person to the other around the world using send globally fractions of Penny instantly and that is fundamentally has value that's a function that has value so let me know if you read that book or check your financial privilege by Alex gladstein people in Palestine have actually got banking freedom from um where their banking was controlled in Israel but then they obviously don't get on as an understatement obviously but that gives them Financial Freedom because they're using a Bitcoin Network which is decentralized in that people's control so what are they say there's no fundamental value objectively it has fundamental values yeah so I we hear that and that pops up but probably once a month on this pod of someone said no fundamental value yeah there's always people in that privilege with with financial privilege that I say in that yeah it's well it's always people that need to keep an element of control that will say it so I'm just sick of it my question was going to be well yeah I tagged this one because I was going to say what what's the definition of fundamental value yeah exactly but no one ever values in the eye of the beholder people always yeah then you looked at me but I think that would be so old you know what do you mean um but I think that's one of the key things for me a lot of the time headlines for this sort of stuff it's like they've used terminology that everyone defines differently depending on the objectivity of the approach to it so like a fundamental value of something it can be yeah it's deliberately obscure the whole term right so no one can put a pin in what that is or what it isn't it's more importantly do you mind Googling uh what's the definition okay you're going to Google value fundamental value there was I mean it's so it's Irrelevant for the most part but it's like you use published that as a new cycle is that what they actually came out and said that was on watcher.guru I think that was what the White House yeah they did quote it but yeah I don't know it's a weak argument for and it's there's like there's hundreds of arguments against it in terms of what Bitcoin provides people I think what they've done as well though they've they've grouped it as crypto and they said crypto so actually you know we might argue yeah there's no fundamental value in a lot of these altcoins but actually Bitcoins no we can come back to it we'll come back to Mikey Indonesia phasing out Visa MasterCard to reduce dependence on Western payment systems so that I didn't see this so there's the pros and cons about being able to sanction like so like Visa Mastercard controlled by American companies controlled by American so when America sanctioned Russia like hey they can kind of control that and fees of nine percent process through Visa mascara so it says control element there um and it's hard to say that's a good or bad thing in terms of sanctioning because I personally don't agree with the war in Russia um Ukraine and Russia so it's like okay what can we do to you know to harm Russia in a way that's you'd sanction them right and then by saying we'll drop Visa Mastercard here uh Indonesia are saying we want the freedom not to be able to get involved with that sanction which is fine and it's completely up to them isn't it but it's a it's a not an easy moral question what are the payment systems do they have that way lots of local ones yeah so then it obviously puts the outside world someone visits there it's cash or nothing or local payment rails that you wouldn't have access to we might look at that thing or Bitcoin lightning Network use a bold card get more merchants in Indonesia I mean that's an alternative right and that's a freedom that's a the whole Freedom element of that look at the benefit of that and being on a Global Network so these are MasterCard blocks via U.S sanctions or U.S restrictions of things then if that was operating on bitcoin everyone operating Bitcoin people going into the country wouldn't have an issue because they could pay with Bitcoins it's available in every country and should like a country be able to sanction payment networks does it harm the right people because all you've seen is Russia just go all right we'll use the Chinese yen yeah well they're moving towards other things aren't they with them but I think we've seen conversations we've had with Visa Mastercard in relation I guess to Visa Mastercard in certain parts of the world they don't want to use visual MasterCard they want out they just can't because it's so ingrained at the minute in their uh country based on their environment um but over time they want to push that out because it's heavily us controlled um they are just using it purely because it's technical advancement I guess in payments that their country relies on but there's a heavy push from top that they want to get rid of that I wonder if that will harm them because I'm just looking at the sort of countries that are out there obviously kind of like third world or poorer countries but rely on a lot of Tourism from I guess in Western World you've got like Bali and all those places yeah yeah that's Indonesia yeah so by getting rid of like Western payments you're gonna you've got to pay the cash when you get there yeah it's very predominantly but what does that put you off they'll be in central to see the percentages like the GDP is like tourism is it well I don't know much about that but I would have thought so Indonesia but they're like they're all like most of the world population is now in Asia and it's growing that way you've ever read fundamentals um and they're turning into more and more developed Nations so the whole notion of being poorer Asian countries I don't think it rings true anymore so if you've got now a whole world economy that is run it will be predominantly in Asia because most of the people are in Asia most trading with each other then why would you have a Reliance on Visa Massacre an American Network or even use the dollar to trade with which is the whole movement from wait and see I guess see I'm intrigued to see how they push how they reduce that dependence on Visa Mastercard and see how it plays out I think the Visa Mastercard we're probably thinking right we've got a lot more competition than we did 10 20 years ago the development everywhere has been that that's happened I think that's a good thing yeah that's why you see them saying oh we're looking into blockchain we're doing it like you know the of course saying what we touched on with the countries earlier on they all have to be seen to be doing something looking into it visa MasterCard more so because they're more competitive than a country level I guess um and they've got to figure out what's the next step for them and how do they maintain some sort of control and business model you I think also if user MasterCard taking their fees or like that money actually leaves Indonesia so you're spending it but they'll be losing like two or three percent on every transaction yeah so actually that could with if you use the light Network use bolt cards you know those fees stay within the country yeah so it's a lot of Tourism then the country benefits even more so I mean yeah it may not necessarily the fees may not necessarily stay in the country the fees could be offered from like rooting fees and things like that could be from anywhere in the world but potentially an open source Network they could those fees could easily stay in the country if they had the right infrastructure there in Indonesia not really no if you've got a tourist going the tourists would have a US node for example from there to Indonesia so the route there will be out of Indonesia's control for local ones they could have it very well connected within the local economy so yeah the fees would stay the local fees would stay within the local environment yes yeah I don't know if their biggest Market is tourism I don't know yeah I'm just saying that yeah some some's in that control but rather than all of it leaving only that portion then would leave yeah yeah so it would be beneficial yeah every country should really be looking at that it's going now but it's basically spreading even if like take a step back and say actually even if uh lightning networks fees ratio was the same as visual MasterCards and you get charged let's just say two percent keep it easy they're all charged two percent via lightning Network or via Visa Network the two percent goes you know exactly where that's going back to and that's going back to one entity with one infrastructure piece whereas if you pay that online Network and it goes two percent back to a wide variety of people and that distributed yeah distributed much better than better one entity that earned billions of dollars a year and so it's probably better regardless anyway in terms of who it goes to because it gets spread between the world actually a wealth distribution even if it is a two percent even if the fees were exactly the same it's still better to go through the lighting because it distributes it to people okay so we might see more people doing that some people will try and argue that well the lightning network will then get very centralized and you'll stand up with a big Visa in there that dominates rooting and but that's an open market and competition there at that point anyway but I suppose to do that you just eat Capital wouldn't you like there's no other barrier to opening technically there's another technical barrier though is there yeah you just you just need to it's not easy to no it's not easy to run a node it's really it's really easy to run a node not at scale [Laughter] but mine got unplugged because we moved some furniture so mine was nicely tucked around hidden away from the puppy and go chewing it it's currently unplugged it and the nightmare would be if I lose like a week it'll take ages to sync back up so it's easy for a node so the dog doesn't chew it well I would go for my I would go for my custodial route yeah good good choice good job thanks I mean just back on Visa Mastercard my Play If I Was them would be just to buy up all these local payment uh yeah rails now that's a good thing but well that's what they generally do yeah big Banks big card companies like they generally will acquire quite heavily with stuff you see Facebook they just acquired like Instagram and they tried to acquire Snapchat was it and you know they try and acquire anything that's up and coming um to keep relevant and staying I suppose I'm before them it was Yahoo was trying to buy up everyone yeah it's like we still do they still somehow have lots of money and still buy things in Twitter Twitter early days first months of Twitter they offered like 13 million for Twitter yeah that was an error and the guys who were thinking about selling at 100. so you just think where that could have played um probably the way of the rest of the Yahoo's Acquisitions what yeah he's a couple of Yahoo still goes what do they do is it a search engine uh originally it was like yeah the home page of the internet style like Google but with news all over it um but they have like oh that's when back in AOL it was like like a hope for everything yeah yeah so Yahoo still have something like is it some like 25 million people still in the US no who are still on their Old Country something like that yeah no way do they it's either Yahoo it might be a while it's one of them so they've got a really old back book of people just on this probably playing monthly for their little Yahoo yeah and they don't make it at all a lot of money here well the regulator should look into that sure that's fraud are you kidding me that's I don't know who these people are but yeah in America so there's still actively paying the bill as well so it's still going out of their account yeah and it wouldn't surprise me if they pay more than what a Broadband would even Broadband would be let alone Fiverr should that Capital lead that can't be legal right of course it's like that's just loads that's bad okay it's mad anyway yeah my point is like Acquisitions don't always just like a master mob no no no of course not like Yahoo I'm just saying it yeah Indonesia we're phasing out my company um Visa just yeah absolutely by the ones that they're facing in it's common sense to take that approaches yeah but that's where especially like with Bitcoin crypto they've got to realize that that's a competition to them and that's what they are they're trying to figure out how do we maintain a business model that makes the money it currently does today yeah but pivoting into some sort of what the blockchain they're online I'm reading that good to Great book at the moment you should check that out it's good that one I recommended to you yeah did you write yeah you did yeah yeah who's like a reverse isn't it yeah not even together it talks about like technological innovation doesn't just make a company good to great it's much more than that in the market it takes people hmm um Russia Zach this is what you wanted to jump um I'd love it if you just said a Russian sentence and in Russian there's this um trade settlements with Asia Africa met up with uh what's the president president G yeah the Big G to discuss yeah it looks like we need the Pooh but you can't test it you can't say that it looks like people in China have got into serious trouble by like comparing him to Winnie the Pooh yeah just put an image up I don't think he looks like Winnie the Pooh but people anyway it looks like um Russia and China have come to agreement to um do all their trade with China Asia Latin America um using the Chinese one I didn't really see quite a popular thing it's not incredibly close but today it's something about it it's just yeah I think it's his little sister I suppose you could be like referred to as something worse than Winnie the Pooh yes he's a friendly character smiley-friendly character uh yeah anyway I thought it was interesting it's um similar to what we've just mentioned there move away from probably avoiding sanctions and start doing all your trading Chinese one it's the fourth turning yeah and obviously president XI also went and um did he make he make peace between Saudi and Iran recently yeah it's getting more involved in global Peacemaker yeah and kind of persuading them all to jump onto his currency as opposed to the US I do wonder how many people look at that and you know you do they not realize he's just playing him so that they all move to Chinese one rather than dollar and then he gets power and he's just trying to be friendly now peace is peace though yeah but it's peace temporary it's temporary peace it's peace while he takes power and then he's all-out War for all we know wow well it doesn't sound like something who would do Winnie the Pooh mate yeah it'd be fun I don't know so on one hand huge humanitarian issues in China yeah and then on the other hand he's a global Peacemaker but why is he being the global Peacemaker it's amazing suspicious well he's doing it on purpose to move people away from Dollar he's not oh yes to strengthen his position but people are moving away from Dollar anyway it's the most highest trade in currency and he's trying to accelerate that because it's coming to China or maybe he's just realized that people are doing it anyway because it's a stronger currency do you know what I thought would be an incredible way to play this out is the China Star to take power the US start to fail in terms of the dollar the US dollar starts to fail which it already is starts to come down and the US realize it's either going to be China or is the new world Reserve currency or Bitcoin and the US go all in on bitcoin let's say or all the US fight tooth and nail to keep hold of their current dollar system which is what happens every single turn and then it fails but eventually when it goes to failure are they gonna go to the Chinese one or do you know do you ever see that array dalio animation about the turning in terms of like I was looking at currency you should just edit that and support Bitcoin in as the alternative oh have that was the one I was looking at the other day oh okay well that's interesting because that's what you're saying really yeah that's rather than them going because you think because really like if you put yourself in that position you you know full well US Dollars no longer in the next 2013. I'll never admit that there's no full well about that but let's pretend put you and yourself yours I'm sat there in the Oval Office and I'm thinking God it's a hundred percent you are going to lose it regardless you're just stretching out as long as it can do now is all that's all you can do do you let China take World Reserve currency status and take that power and that control or do you say well let's pivot to bitcoin with many supporters around the world in lots of different countries around the world that will help support this and drive this and the world Reserve currency becomes decentralized where nobody has power yeah I value two choices well Nick Jonas they have ended in Conflict yeah yeah so you were more likely to have conflict every World Reserve comes to downturn starts and conflicts yeah so that's what we're seeing now maybe very ominous really but there's never been a Bitcoin alternative I say imagine it would be this is the two choices now you let China take over as World Reserve currency or you pivot to a decentralized one laptop do you think it'll be more of like we may see Decades of not one there's just multiple now essentially until one then it strengthens out the end of it that could be decades there's never like a date where it switches that could be Decades of that mm-hmm but that's in my head now I'm thinking you know in me in the U.S position all in Bitcoin you the the biggest holders of Bitcoin will have somewhat power in terms of financial uh access because they will have more financial um theoretical income I guess as well in some respects not income but like the if the Bitcoin price continues to rise over that time while countries are accumulating then the ones that accumulate the most like El Salvador at the beginning will then end up with the stronger position financial position at least anyway which then enables them to build out better infrastructure as a company as a country um so the U.S now do you reckon they're having these conversations you reckon this on the radar do you reckon that they're thinking cbdc's will mitigate the whole need for a global base currency I think BC is just exactly the same what your dollar is now in your digital bank it's like it doesn't it's not changing anything it's just adding more surveillance for the US yeah but whatever they're thinking it'll be a quicker or any any slight subtle Improvement of the CBC if every country's got a cbdc is there still a use for a global base course they have on trades in or other their current currencies are so transferable that you can just invoicing trade in anything transferable though because there's still the FX right that you have to get there's still an Ethics right with a closed environment that's not an open environment so you won't be able to freely trade and still be restricted by U.S sanctions and things but they might be thinking there's a banking world where that's the alternative but it doesn't change a world Reserve currency status it's a different issue that um world Reserve currency status is the one that's been used the most by Moscow in the world but that's kind of all driven by the oil isn't it um historically and now Saudi making short term moving on to the Kenya stuff free oil though it was obviously driven by different factors so this is the first time we've now seen a decentralized currency that isn't controlled by an individual country that could be used in replace in place of it and that is in my head the the best option for the us right now could be I mean I think there's turmoil on the horizon on any and like any of those options I would oh yeah that's you're talking about upheaval hey I'm talking decades and decades so we're not talking like you know next week but if I was the US accumulate Bitcoin lots of it don't say anything play it slowly 10 20 years time all in Bitcoin as China starts to take power is that what you've written to buy them I think they're all just too bad I texted him to imagine that guy takes imagine though I think they're in their own little four-year Cycles themselves that no I don't even know if they're thinking long term they do maybe not I think some of it depends on like because still I know like they come in with the political parties but there is underneath the political party there are people in power in the positions in um like the SEC and things like that where they have been there for much longer time periods and regardless of party they may maintain their position um so the treasury side and the economy side there has to be people thinking about this if there's not they their egos they will never give up on the dollar honestly yeah no I I don't I've read premonition by um Michael Lewis about the like they always had like um like a covered type pandemic event preparation so they always put the government's supposed to prepare for all these different things and bits and pieces and they knew that was happening in terms of the Cycles between such an event but the the infrastructure they had in place and the organization was just so shambolic they just think if this is so this is such a thing for them to be planning it's probably not in their lifetimes most of them people are thinking about this that all may not be thinking about it but in the position of power it's not in their lifetimes yeah so they're probably right and they probably don't think about it to the extent of what we are but for the us as a country from the next 1500 to 200 years you've got to think the the play has to be if we can't keep power let's give nobody power the endless tragedy of the Horizon isn't it it just won't change it's too short term so I'll just be turmoil and somebody else will take over yeah that's where I'll come in Dave coin King Dave you'll all be gone a banker Dave thank you Dave new documentary on Netflix watching [Laughter] um move on this is the endless agenda of yours I thought it was a good step yeah you didn't know you were all over the place I listened backwards the other day he was all over the place yeah yeah yeah yeah uh Bitcoin outperforms 97 of the S P 500 companies in 2023 yeah just being selective on your date range there I move on that wasn't me this is a story I mean we're only three months into 2023. yeah um but I mean it's still still pretty good regardless it means they're done bullish news for a while no it's just a selective date range it doesn't matter if this has been quite a depressing podcast I think so well we've talked about you literally use the word turmoil about 10 times yeah well enjoy a few conversation about turmoil yeah did you enjoy a bit of turmoil I was actually going to me every morning I was actually gonna query who are the three percent that I'll perform Bitcoin that was my question I didn't look at that is who you watch it uh GameStop jumped quite drastically recently which everyone was a bit like where's that come from yeah um but I'm not sure about the others I don't think GameStop will win the S P 500 anyway um I've got a bit here that says the ones that underperform to like FedEx Apple Amazon was it because they over hired oh I think I can name some banks of underperformed yeah any Bank yeah they put a for hiring it's uh but yeah I was just disappointed that Bitcoin didn't be 100 so who were then three percent then you better find a day range where we can say 100 yeah yeah exactly um yeah price pumps for an hour just to do that that's always a nonsense Greenpeace war on bitcoin unintentionally spawns this is the best thing that happened this week why is this not on the top of the bill this is why you need to just prioritize it's nearly the finish it was like the definition no it's the finishing point no listeners survived this long time you've got the excitement we've gone through turmoil yeah true absolutely banking drags to the best news that's happened this year this is all kind of work how class was that school the school that looks so good it was it was good and the guy so the guy then got educated anything he shared the Tweet of him yeah saying and people have been educating them on bitcoin and all this he then is clearly I don't know I don't want to offend the guy but he's but it was like a greenhouse is the best way for describing uh you can see straight through him so he then actually um like a window the greenhouse is harder to see through the window he threw it out the other side okay um like a window yeah [Laughter] through it um so he uh tweeted that and then educated and then started to come round to the whole Bitcoin thing and then about a couple of hours later I think he tweeted saying um basically could people help him gather information on data on how many people this is this now meme has reached and how popular it's become because he's going to want to gather that as a case study to take to other companies and say look I did this Pete this artwork piece and it reached 200 million people in the two weeks time and they'll go and sell these basically it's his CV he's ticking the box for isn't it well we could do that whole um how much CO2 has been actually released from tweets so green pieces are doing more damage because they've made such a memeable and so if we can get that data that's actually really easy yeah see how many actually retweets and because it's all over the shop isn't it yeah I might I might pull up to you yeah you can have that one predict how many people have seen yeah how many people have seen it Rashad it and but I think he was just seeing the way he approached obviously he's learning which was good and it was then it was like he's gone from negative to positive to I know why is this guy doing it for work for himself to make more money for himself he was a bit of a [ __ ] cleaner as well yeah someone asked him if he earned any Bitcoin he said no thank you and Solana yeah Solana all right but he said that was just because he did a project for them I think oh yeah and then had that and he's lost a lot imagine what his feed was like though okay the notifications what's the definition of fundamental again we didn't have this definition yet Mikey was fundamental about because for assets Equity markets and bond markets fundamental value is the present value of future cash flows simply stated we identify the future cash flows that will accrue to an equity Market a bond market a sector an equity sector or a or a bond category that doesn't really apply to it to us Global Satoshi because yeah no this is for the monitor this is for Bitcoin all right yeah the White House suddenly familiar on then we've got intrinsic value which is a measure of what an asset is worth but that is arrived at by means of an objective calculation or complex financial model rather than using the currently trading market price of that asset okay objective so that would be then gold which can be used in all the things effectively so okay electronics and things so the fundamental value of the Satoshi School I was trying to say that to bitcoin you could probably sell that for an awful lot now well that that has yeah fundamental value I guess um but no it was it was pretty it's cool obviously a good looking thing which is great but I think the uh that's great though overall is it well I think the best thing for me is they turn everyone's just turned it into like made fun of it yeah the outside world don't care I don't think anyone in the outside world knows what that's what it is and what's going on but I think by doing that it's kind of destroyed the whole campaign and the all the noise makes their campaign like one percent of this 99 the fact that bitcoin's taken ownership of that school yeah now he's seen as like a positive Bitcoin rather than negative thank you for commissioning a piece of Graphics Greenpeace my annoyance is just if a just normal person outside the industry watches that they'll see it's Greenpeace and think it's irreputable yeah video essentially The credibility that Greenpeace brings is although we're making fun of it internally in the community is it's still doing damage to anyone that watches it outside of the community I think I saw one of somebody's tweet which was a very good point is stop interacting with Greenpeace because they have no followers they have no interaction the only interaction they get is from Bitcoins so it's just unfollowing Blanc yeah go look Greenpeace is an organization right they've gone down the wrong route with the change their code they're not almost single-handedly to stop wailing or certainly involved with that is this is Greenpeace us I think so whether that has a slight difference yeah when I was looking at the day they have got one for pretty much every country in the world yeah oh so I think yeah followers but they're broken down like country they're probably a lot less what the international one didn't share the Bitcoin score that was only in the US on the show oh okay so that's disagree with the new Green Piece themselves I mean there was no organization they've all got like different profile pictures and stuff so there's no like brand consistency across them so I could just start I could start a nightmare this year so which is the one that pushed out the regular Greenpeace Greenpeace us pushed out the schools us or USA I'd have a look what you're trying to do find them on Twitter it looks like it's Greenpeace us so if it's green pcosa they've got 221 000 followers so UK you think they've got they've got an audience they've got to reach most of their tweets get like 10 likes if that like they get they get barely anything 14 likes there 38 likes there that's a tail but you're talking about Twitter reach rather than the public good right so they're but if the audience might not be on Twitter yep where's the audience there and I'd have to research where Their audience is clearly it's not doing a very good job because you know about otherwise you're not going to know about the audience of every single organization if it's an organization that manages to reach you you would because you'd know where it's reach you're from just I quite like the what what I thought Greenpeace stood for was in terms of environmental resistance against big corporations I like that um parts of their organization obviously diversion away from what I thought they were about they'll do whatever the people are giving money do and so clearly and this is Ripple five million dollars to say see Ripple could have done this themselves this is Satoshi school but they've used the Greenpeace name to give more Villages yeah but we see it kind of uh we see it in similar with like um oil companies will be like the biggest supporters of climate change science and there you go I mean we see money driven you see all this kind of in other Industries as well it's just it's mercenary not missionary do you love that as well Dave Prado is slightly sad isn't it it is but unfortunately that is a lot of the world okay so you're a big fan of the school getting on a t-shirt on a hate Greenpeace this year yeah he's sick yeah I was gonna make a Fiat render version of one I know then I got busy that's literally went down it was a Islamic Finance rabbit holes it was a bit you know when you just get involved with stuff it doesn't start too many things and you start finishing them should we should we finish this then since yeah come on are we skipping that last one yeah kind of touched on earlier on dot the oil and not using dollars I like this I was pointing to that because I know it was one he was on the list uh much of the month [Music] still spraying wife's not spraying she reported to you yeah she's not replied she's not had me arrested yet for the hotel.com um all your hemp needs compo Bitcoin CBD oil um variety of things yeah when are you taking it what are you doing with it and normally take it in the evening instead of having a cup of tea lots of sugar yeah I found a similar effect just to spray that I don't know if it's a placebo or it must be just the opposite of what sugar would do surely no like in a cup of cheese fight I like it within my daily routine is like winding down wind down yeah that's maybe why you're not a sleep box it's got caffeine who said I have sugar he says I don't sleep well you know we only lost the hour because of the times the week before because you've got children does this wake you up it's not the sleep it's not the issue I don't wake up and lack of it is caffeine towards the end of the days he doesn't have that much caffeine in there does it does I thought it was a misnomer the fact that the leaves had to do but when you brew it there's nothing in the actual tea hi chat Mikey I know that everyone says like okay tea leaves have more than coffee but actually once you brew it I think it's still it's about roasted two-thirds of what coffee would have I think something like that yeah you'll occasionally enjoy a coffee right before I go to sleep a coffee before you go yeah that's mental a lot of people do that I think I've had a Red Bull in bed I've done that before Oh anyway yeah anyway it seems to be a good point this is why you're more chill that's why you're 100 in a standard cup so what's it in coffee It's gotta be a comparable Mikey that's just a number of things can we make that as a shortness it sounds like Gibb absolutely abusing his teammate abuse it's just always someone I have to always say it needs to be comparable I mean the standard like caffeine capsules you get are 50 milligrams so that's like one of those basically it's like having a caffeine pill to keep you up essentially because 40 milligrams of coffee so it's actually oh it's quite unsignificant but it's not more than a coffee but it is there's still significant depends on the it said in a standard cup there's 30 to 50 milligrams and there's 40 in a coffee so yeah but so there's no standard coffee measurement there's just 40. supposedly that makes no sense you're Spoonful as opposed to how long you brew it because if you brew it for longer then I assume that's the thing isn't it is there caffeine in that well if that's why it's not working well so full transparency I bought these quite a long time ago as they sell my name yeah when is it July 21 21. if uh I don't think like everything's gonna have silver day on it I don't know applicable is it this is a used buyer I honestly never mind oh no that's the old box don't worry you've got a new version yeah it's black that's just an old box yeah like the label on them because it's different an old box I bought in the first I mean that's some of the worst product placement like this is the worst Merchant ever isn't it because we're just using an old box it's the brand herzamp okay we're using a box because we've used the product yeah okay it's all gone the product's gone yeah um question time check them out question time what time is it how long are we going this question time maybe this one oh that looks like a long one this is kind of is it jolly it's top that's what I was gonna maybe mention about popcorn and news but your question was no question what are the current in Brackets limiting factors with the restrict which we should which restrict the same Globe we're offering to only GBP and Euro and to only for Destination countries at present it wasn't naming them because we've not announced it yet but it was that more countries are coming oh okay yeah so GBP and Euro because that's all we do on the platform what the current limiting factors which restrict the same Globe we're offering to only GBP in Europe because we only offer GBP in Europe yeah I don't know how else to answer that yeah you still need an off-ramp banking side of it so we can't have every off front currency yeah so we don't bother with dealing with dollars and we don't bother dealing with other currencies because we're not in them countries so we wouldn't deal with them we're only dealing with the currencies that we're in the countries off predominantly um the four destinations at present destinations uh is because in every destination needs a partner company which is the equivalent of coin Corner in that location um so in the four locations at the minute there's bit knob and there's pouch um we have more Partners to come and obviously as bitten up and pouch open up into other countries we will then have access to them countries as well so it's just a slow grind as we how you're doing more country announcements how are you gonna how are you dealing with that what I'm looking at you I only got told about it this morning so I'm not actually you're not planned on yet I've not planned anything yet here it is no no no don't do it like this don't do it like this five new Pinterest to come five new countries we should fly Dave out to each country oh do the announcement I would I'll come with all right done that's how you do it so yeah there we go well what budget what what does it matter about budget if I'm involved if he's involved yeah it's not coming out of Marketing budget um but yeah hmm look we got him is that the question done yeah yeah okay cool yeah right so more countries to come and the conquer on the news is five new ones to come this week I think it's this week well it's when I get the announcement out which I'll hopefully be this week what's the announcement though how is he now is it an email well the announcement already be out by the time people listen to this hopefully okay and don't put that pressure on me okay it'll be on Attack One yeah how's Tech looking we thrive on pressure okay any other comment on the news um no what did I say last week I was gonna was it Merchants that we nearly signed up every week oh Merchants were signed up this week uh best everyone give me any did you ask them um I'm trying to think because I got the emails and who signed up thanks for this pointless part of the podcast it's just terrible terrible start terrible end you know what it just goes to show we're not we're not all that behind the scenes you know we were supposed to beat that record as well because they were accused of different people look like different people they were using a different person for transaction but the rally was the soldiers transactions also and I know it's great for them and I'm not trying to take over the kids just leave it there but it was the speed of it is not really because that's like 70 how many transactions does like the Bitcoin network is doing more transactions than that in a three minute period yeah but this is just within a within one organization yeah but they're not doing it wasn't like the same translation why would you have such a problem it's just a nice thing there are no rules because I said the opposite and yes he's still questioning the rules and that's the way they did it but yeah my point is the way we've done it historically is we've passed that same Bitcoin on around in a circuit it's consecutive transactions there's one consecutive transactions there were just 70 transactions all at the same time and we could do that and do it in two seconds well they'll all just have to tap it once or scan a QR code and press the button once let's see so they could have done that they could have just doubled the amount of people that held up the QR code and half the time so it doesn't maybe they didn't have the people of it no no they didn't I'm not saying that had nothing to do with them it sounds like it is not our third week of talking about this the fundamental we need to move on and just do our own right yeah but let's do it consecutive is this is my point of getting to so the fundamental what they've done is anybody can break that in the world it's a ridiculous thing that doesn't make sense the way to do it would be consequently doesn't it say that school Pro school project with those kids was a ridiculous statements that was great what they did he just said it was ridiculous great the methodology was ridiculous it was ridiculous and the methodology which we should use is consecutive transactions because it shows the speed as well as being able to pass up doing it okay the way they get your point just doesn't make any sense because you can halve the time just by doubling the people it was a nice demonstration of Technology it was a demonstration yeah foreign well that was a secret all right let's leave it there would you like to know the three percent of companies that yes so this is in from top to bottom so first is NVIDIA Corporation they're obviously just doing well mostly probably because of Bitcoin mining yeah and then you've got matter platforms Align Technology Warner Bros Discovery Advanced Micro Devices Catalan Inc Tesla Inc West pharmaceutical Tesla up more than 70 uh no no no the bitcoin's only up 37. that's now start of the year it's about 70 percent up one day ago by some senior manager at some blockchain is it what price was it at the start of the year no it was six the 16 000 17 000 and we're at 28 000 now this has got B yeah this has got Bitcoin at 37.6 and it's saying there's uh 2.4 of s p companies are higher than it which is only 12 companies 37 up it's saying uh that's year-to-day return which is not right I think it was actually 18 000 was it at the uh I don't know when it's data from but this is from the LinkedIn post one day ago okay LinkedIn oh but it's like it could be old I apologize in advance if we've reported fake stuff here so start of the Year midnight of start this year would have been sixteen thousand five hundred dollars 16 550 and we're currently at twenty eight thousand six hundred so uh sorry we're at 27 800. increase is completely wrong so what roughly are we looking at for search for probably like 70 I think okay that means only Nvidia beat them 76 okay foreign okay right nice we're done I don't know are you guys done yeah completely sorry about that episode guys and I'm amazed we've not spoke about Dave Dave's not spoken about Dave I think I covered me enough thanks guys all right Cheerio peace foreign [Music]