You were literally taking more risk right now, not owning Bitcoin, then having it. Oh, my God. Like not having it is screwing you more than half.
That's that's an insane statement.
Yeah. Just to see that building overrun, it's it's deeply symbolic and obviously we've seen we've seen other stuff like that this year with with the BLM protests. We've seen buildings burning, but to see the capital of the United States overrun. Is a very moving sight and a very disturbing sight, and I think it's indicative of how serious this has gotten in the country and I think there was a lot of time this year where people were like, oh, this is a sentiment, right?
This is no longer sentiment. There are. There are. Not not to not to make fun or even discount how serious this is, the shit stains of this country have taken our capital building. These are these are the inbred redneck fucks of America.
And I'm not talking about the right as a whole, a tiny percentage of the fringe right, similar to the tiny percentage of the fringe left that destroyed buildings during the BLM protests. Right. This is fucked.
This is fucked and is disturbing. And I got off the phone with my brother in law just now who has been deployed multiple times to defend this country. And he is almost in tears.
Over this, it's disgusting and we have and now and now what we've also seen is Trump has taken aim at Mike Pence. So the Pence Trump relationship has era has come to an end. It looks like Pence is ordering these people to stand down and to leave the Capitol building and to and to act responsibly. Trump will not make the same tweet.
And this all started because they tried to.
So, so so what's happening right now is today was, I believe, the day that the Electoral College votes were being counted and it was not run off well.
So the Georgia runoff happened last night. But long story short, this is all happening during the time of this final decision making around who will be the next president of the United States. Obviously, we know that the elected president is going to be Biden. Trump has repeatedly claimed fraudulent election.
This this what is now being looked at as a conspiracy theory. That was the election perfect? Absolutely not. Was there problems with voting machines? Maybe. But the Supreme Court has said there's not enough here. The state courts have said there's not enough here and that there is a president elect. Now, what you're seeing is Trump's continued fiery rhetoric compelling these people to storm our fucking federal buildings, a crime which he tweeted a couple of months ago, would be punishable by 10 years in prison when it was done to statues.
I remember that. And so now the question will be, will he have that same fiery rhetoric towards the people who have now stormed, assaulted police officers? I want to make it clear I condemned any kind of violence at BLM timing, too. If you if you broke into buildings, if you assaulted cops during the BLM protests, you're a piece of fucking shit. You're a piece of shit. I'm sorry. And if you're doing it today, you're a piece of shit.
And so a lot a lot of good people are condemning this completely. But it's just it's a it's a scary time.
And twenty, twenty one, not not to the best are fuck, you know, to put it lightly. Fuck. I mean, yeah, you know, we didn't want to start on such a heavy note, Andre.
We apologize if, by the way, welcome to a ball. If the number one podcast in the world.
I got an intro for you. I'll read it here shortly. Yeah, it is. It is tough when the the world around you is at this particular moment, quite literally falling. Right.
So we want to address it. And it is it is sad. I am so optimistic for the day where we can get past this nonsense in America once again becomes united.
It's just it's just honestly, it's just and I know there's two sides and I know that we've been talking about it will piss people off, but like. It's just regardless of what side you're on right now, this is just embarrassing for us. The world is is watching and laughing and looking at a very weakened America. We are weaker than we've ever been before since maybe the civil war. Everyone is mad, everyone is divided. And it's just a really disgusting time.
And honestly, like, if you're if your only hope is not that that we start to remedy this divide, then you are un-American. You are not a real American. The only thing I want deep in my core is for this to stop for this embarrassing era of American history, to come to an end and for us to start to heal as a country. And if that is not your only hope here, then then we've got a bigger issue than it seems.
Yeah, well said. All right, well, OK, let's let's hit the reset button.
Let's continue with Kanye West. Jefferson, Jefferson. No, I don't think so. God, it was like God, he was it's it's not true. How do you how do you know, Dylan? Very specific detail.
How do you know whether or not Jeffrey was there? Kanye West habit and now.
Apparently that's so he's just making up.
Who is that? He's stuck and apparently just he always has a lot to offer. It's not true. Why are you guys in uniform?
That's what I was wanting to know. I was just playing on just how can we see this? Well, he both wearing bright yellow Tyson orange t t shirts.
The podcast is the best podcast. OK, ok. OK, gotcha. Well, we're going to we're going to try to. Wow.
I can almost guarantee that was the worst camera movement anyone has ever seen shot like.
OK, so we're going to try to one up the Tyson podcast today, guys with over a million subscribers on YouTube.
Our guest today is committed to the magic of finance and helping you on your financial journey. He was also the lead card history expert.
And now you see me too. It's Andre Odjick.
We got some Microsoft right now. Thanks for having me. Thank you. Thank you. Your microphone looks like abnormally high. It does. Let me lower it. You can maybe you could even just tilt it down at the top and then it will. Yeah. Yeah.
So look, dude, we'll call them Paulista for a reason. Kind of scatterbrained little ADHD all over the place. But we brought you and you flew in today from Vegas. Yeah. Right. To come on.
That's just landed. Yeah. OK. And you came right. Yeah. Amazing bro. Amazing having me. Yeah of course. Thanks for wasting your time and coming.
And it's so we should preface do it spawned out of our last episode. Yeah. And just the current happenings of this past week which has been a further bitcoin and crypto boom spurred by this institutional buying that's happened over the past, you know, few weeks or month or whatever you want to call it.
And we were on this rampage. We're like, do we got to find somebody to talk to? And here you are. Yeah, a lot. A lot of people recommended you. Oh, really? Yeah. Yeah. And the comments. Yeah, you had a lot of wrong. They were so OK.
So let's hear what you got. You got the shirt. What. The shirt. Why you why you downplay yourself like you're hot. It's just a shirt says bitcoin on a premium playing cards. Right.
OK, but you, you came into the house and you're like, you know, I don't know why I'm here.
Yeah. I don't know. I mean, that's not I'm not an expert. Yes, you are. All right.
I'm an expert. You are an expert. I told you you might have said the classic. I'm not an expert. Like, don't rely on me for fiscal responsibility. Is that why you say it? A little bit of that. OK, ok. Yeah.
Why are you are you are you like what is your where does this come from. Were you in the finance before crypto. Yes.
So I came in as a nine years old to America from Russia and my parents were circus acrobats. So they're performers.
And you followed in their footsteps. Yeah, it was a circus kid. But every performer sucks that money, like they make good money, but they don't know how to manage it. Right. So my whole life I was growing up and I was like, what don't what do I do with money? Like, I don't want to be like my parents because when they came here, they didn't know what credit cards were. They didn't want investing accounts were.
So I was like, I don't want to be like them. So I started to learn magic because my dad taught me a magic trick.
It does sound like left like I don't want to be like them now anyway. It's magic. Yeah, it seems like you went straight to that direction, basically. Now you're not not talented like my parents were and I wasn't.
So yeah. And eventually I got the role for now you see me where I taught the cast for two weeks in London.
I was super responsible for that one scene, the white lab scene where. Yes, where they hide the card in their hand.
And yeah. So, John, you, the director and I, we kind of worked on that for a couple months. And yeah, it took two weeks to shoot that. That was about one scene. Took two weeks. Two weeks to shoot it.
Yeah. Why was it that scene has been watched so much.
That scene is insane. It's also you recreating it is your most viewed video on YouTube. Yeah. Yeah. Five million views, I will play here, but that's crazy, but why did that scene take two weeks to shoot? Because we taught the actors how to do everything in that scene for real. Oh, I literally taught them step by step how to throw cards, how to permit, how they do everything. OK, very cool.
And so on. And so you are an expert, right? We can we can do it later. But I want to have you throw a card it up. You caught a banana and it theoretically, but I haven't done it so long.
I mean I could try but you like sleight of hand. OK, all right. So we'll show you some stuff.
Man of many talents and and for some reason I'm like slightly not surprised that the bitcoin expert is also a closet magician.
Do you know what it's like? And so that's what I want to try to combat today, is this idea that Bitcoin is Fugazi. Yeah. Yeah. Now you see. Yeah. Seventeen thousand seventeen thousand.
Thirty five thousand. Yeah. But you know, not backed by anything except for mine data. Yeah. What the fuck is big with the fuck is going on. What they're trying to ask. What is bitcoin. Yeah. If you figure it out let me know.
No but ok. So man where do I start. So in nineteen sixty four there was this physicist who's a Russian physicist named Nikolai. Nikolai I forget was cadastre Nikolai there.
Yeah, right. And Vladimir Vladimirovich. It was literally my middle name. Right.
Yeah. So Nikolai cadastre. Right. So he created Bardash. Oh my God. I thought I go and get the money the car to show.
OK, yeah. So he created three types of classifications to try to like if we look for alien races out there on the planets, how do we find them. Right. And we would find them by trying to find their energy output. Right. So the more advanced they are, the more energy they use. So he created three types of different civilizations. There's type one, type two and type three. So type one is called a planetary civilization, which is more of an interplanetary civilization that focuses on getting its energy from the sun, from its planet.
They control the weather, earthquakes, volcanoes. They can stop anything they want. That's a type one. There's a type two, which is Gulak or it's not a galactic on into Interstellar. It's a stellar planetary civilization. And so what that is, it's they use just the. Have you heard of the Dyson sphere? No. Is that a vacuum cleaner. Yeah, yeah.
Yeah, yeah. So thank you. So guys, I hate both of you guys because I know I didn't, but I didn't hear the vacuum. So that's why I'm actually kind of upset, because the only thing I related to right now was the fucking vacuum. Because Dyson sphere. Yeah. Yeah.
So so it's like this these metal things that float around the earth or the actually the sun water tries to mind the energy from the sun. Right. And so once the civilization reaches type two, it goes immortal. And so it's, it can't be killed because they go to other planets. Oh. So that species can't really be wiped out. Does doesn't make sense. Yeah, sure. They go to other planets. Sure.
It's hard to fully grasp what you're saying. The Dyson sphere is a hypothetical megastructure that completely encompasses a star gatsas a large percentage of our output. OK, so what could type three. That's all I could think about herpes. So yeah, it's actually immortal on your car. You just you just find it stays with you. I'm excited to know man. Tell me.
So it's type three Star Wars, right? Were there galactic. They could travel to different galaxies. Holy shit. So so was what's Bitcoin meant? So so we how do I pay at Walmart with this? Like they're like, sir, you told us thirty six seventy standardising back. How would you like to pay them like I'm from the Dyson sphere. Can I felt like you don't understand. I'm type three. Hey you guys brought an expert about this study.
And also I know you're obviously an expert on a lot of things.
I thought I was going to start with Satoshi Nakamoto, but clearly it started way before. Now we're going to go meta. OK, you are clearly. So get us to get oh, you got magic tricks.
We know Star Wars. Get us to 2009.
Maybe we Chiloe. Let them explain. OK, all right. So Dyson. Yeah, yeah. OK, so type three Star Wars. Right, OK. Where they're galactic and they could travel different galaxies on this scale. We are zero right. Oh.
Because we get our energy from dead plants and coal and our energy is brought to you by ExxonMobil looking.
Not right now. Yeah. OK, we're newbies. Yeah. We're like zero point seven theoretically.
OK we. But we did invent the wheel so let's chill out. We're getting there. Sorry, sorry. And one one was able to garner their energy from the stars from from its host star.
But it gathers it from. Yeah. What would that mean. That solar power. That's right. Coming type. So, so we fucking go.
So we are seeing, we are seeing evidence every day when we wake up that we are becoming a type one civilization. So for example, type one language is English. Right, because it's a it's a language of spoken all around the world is a second language pretty much. So that is a type one civilizations form of language. Our entertainment, our education. Those are social media is now we're connected by Facebook, YouTube, ticktock, Instagram, all those we are connected together with our just like is this is my face now.
I look it's I think it looks funny. I did. It's literally my trademark.
Jeff White clapping There's no need for the applause. It was funny, but I don't think I had to do an ovation or stood up. She's like, finally some sort of tell it. It was the expert. All right, go ahead.
Yeah. So the type one's form of money that we have right now is the next biggest step. God. So so the transition between zero to one is literally the most dangerous transition that a society can go through, because maybe that's the reason why we're not finding intelligent life out there on Earth, because they just self-destruct by that time. Because what happens with type one is all this technology and information becomes what's called democratized. Like everyone has access to any kind of information, weaponry, anything else.
So imagine if, like a radicalized country gets a hold of how to build an atom bomb problem.
What happened? Not good, but attack. But it has happened. What is literally happening right now.
Oh, so in the next 90 to 100 years, that's going to be our transition to a type one. And the next phase is probably going to be the most important phase of our lifetime, which is a type one money, because that's what it's all about, ideas that make sense.
I know. I see what you do. All right. Before we go too far into the rollover over to type one, because I'm sure we won't get back to this to type two and type three. Yeah. Would the transition from type one to be to type two and three be transforming it from English to math so that you could have a conversation with other. Not necessarily, no. No, no, no, no. It's just a planetary language for us because it's spoken by everybody.
But I can see how math might be a type three language because it's universal across the universe. That's what I'm saying.
Yeah, that's how we communicated when we sent out the probe with the gold disk. It was just our music or math, right. We're like, hey, here's where we're located. And we literally use math to try to write. Yeah. So it might be. That's good. OK, all right. Let's get back to Kirpal God.
But anyway, so yeah, type one civilisation's form of money is we think it's going to crypto because it's like money for the world, because every time you travel you have to get like different currencies. Right. There's like the yen, there's the ruble and it's to stuff to convert your money. So imagine that we have access to a money that is global all across the world for everyone to use.
So for the first time in human history, we have control over money because like if you ask, like, what is money at the end of day is influence, right? That's all it is. Money is influence and power. And for thousands of years, that power has belonged exclusively to the elite and to the governments of the world.
Right. So it's a it's a the words I've been hearing are decentralized currency. Nice. I haven't got there yet. OK, OK. So go on your back.
So no. Oh no, no, no. Let's not go there. Right. As long as you don't try to tell me that that's what they like. Yeah.
So finally we have control over our money for the first time. It's a money that is democratised that is made. By the people, for the people that is governed by the laws of mathematics, that is owned by literally nobody. And that's why they say it's decentralized because you cannot shut it down is literally like the Internet right now. The Pandora's box has been opened and now it's like, how do you shut it down? You can't because there's no off switch.
You cannot turn off the Internet right now unless we had like a solar flare or something where electricity just got fucked. Right. Gotcha. But as far as what Bitcoin is, you cannot turn it off. It just is now. And so it's it's a money that, for the first time in human history has not had to ask for permission to exist from our government because PayPal tried to do that originally. They wanted to create their own money and the government shut them down.
They're like, now, screw you, we're not giving up control. Why did that not work? But crypto is because the government can shut down a company or a CEO and throw them in jail.
A company has to the currency has no it has no owner. It has no central point of failure. That's why they say it's decentralized. We don't know who invented Bitcoin.
Not really. We should not. We have to hear this name. Who's who's this guy?
So so this Satoshi Nakamoto, which was so the whole crypto network was launched in 2009. Right. And it was under the pseudonym, this fake name of Satoshi Nakamoto. But we think it's either a dude or a group of people that were really smart. They just put this together. There's a few identities who we think we, you know, he is. But you can just Google it and you'll find who they are. But it's like really debated and contested.
So who is this guy?
So that's a dude who I think people thought it was a DeLorean. Yeah, I do this in California. I think actually they all start going up there like Satoshi. Thank you so much. It's like, dude, I just hope they're not somebody. My name's Fred. Who are you? Somebody literally asked.
That guy was like, are you Satoshi Nakamoto? And he's like, I'm not involved in that project. I haven't been in a while. And apparently he was like a government contractor. And so when this came out publicly and the media just like attacked him, they're like, holy shit, are you Satoshi? He's like, no, no, no, I misunderstood. The question is, like, I thought you were talking to me about my government secret projects.
No, I wasn't talking about that. So so he totally denied it. And then something happened with Bitcoin, where on on some website that hadn't been active for forever was like, I am not Dorian Nakamoto. So it's like whoever's behind it was like, no, this the guy's not it.
This is all scary. Or that was him just being like. Or it could literally it could have been that we interrupt this program to bring you a word from our sponsors every new year. All you hear is New Year, New me. I usually means you'll be picking up better habits or trying new things. And if you take up a new hobby, it's even better when you have amazing audio that will make the experience even better.
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I have a question for you now. You're saying that it's controlled by the people. Yeah. What happens when like taxes get involved? Because like the only thing that I'm sure of is I pay taxes and I'm going to die. So like at what point is the government going to get involved, do taxes only to like you.
I mean, like even religious people are like, do taxes and bitcoin are the best thing ever? Because the way our taxes work right now is we have no real say over where they like, where our tax money goes. And so imagine with the use of block chain, which we'll get into in a second, like what that is, but I guess we can get into it now. So so block chain works, right? Because so Bitcoin is based on something called block chain technology, which is basically like.
So imagine if you sent me a Bitcoin or I sent you on. Right. Our little transaction gets put into what's called a block. A ledger. Yeah, but imagine like a Rubik's Cube, like literally a Rubik's cube. Right. But it's a small size. I can only fit so many little transactions before there is a new block that has to be made. But so all these transactions fit inside this Rubik's Cube. And you as a minor who has basically this this person with a computer who's solving these equations.
Right. And the reason you're incentivized to do that is because once you solve the little Rubik's Cube, those transactions that you and I had sent between each other, they get confirmed or verified.
They're official. And that's every ten minutes that these. Rubik's cubes get solved and then they move on to the next block, these blocks are one megabyte in size, so they can only contain so many transactions before we have to move on to the next one. Into the next one. Into the next one. And so that's how our transactions get verified. And so anyone can participate in the network and be a minor and try to solve this. And whoever computers are more powerful, they get the majority of the reward.
So, OK, so stop right there with that statement, OK? Who does that make sense? Everything makes sense. No, no. Yes. Yes.
No, but I to say I don't understand it because even if everything was Bitcoin now, I still think in my like experience with money. Yeah. Whoever has the most of it is in control.
Well, hold on. So I haven't gone to the to the tax part yet, so. OK, so it's decentralized in a way where everyone can participate in the network. Right. It's kind of like taunting where like when you torrent a movie, not one real person really has the whole movie. It's like it's taking bits and pieces from everybody. Does that make sense? Yep. And so Bitcoin has this like public ledger that you said where every transaction and any action that happens on the block chain is recorded on a public ledger that anyone can see what's going on.
So the governments actually love Bitcoin because it's what's called pseudo anonymous. It's not really anonymous. Meaning if the government wanted to track what you were doing, they could they could see where the code is going into which wallet. Right. So it's pseudo anonymous. The beautiful part about that, though, is if we transitioned our tax system onto the block chain, we would literally see where our governments moved money. Does that make sense that imagine like senators like the Georgia Senate runoff elections we just had where we could track, hey, where does this dude get his money from?
Which companies, how much? This is all just there's a lot we've just talked about so much. I just want to slow down for a second. That's all very scary stuff. That's amazing.
And I agree with you, but you made a statement that was whoever has the most powerful computer controls, the most, whatever, like or like this whole idea that cryptocurrency is decentralized and sticks it back to the powers that be.
Yeah. All right.
What if all of the magicians torrent nerds radiator's you know, all of these people work for ten years, 20 years to create a perfect new global currency. Only to have government pass one law that says, you know, that's all ours now. We now control the beautiful part I get and I get it. I know. And this is just be plain advocator. No, no. I got a great answer for that.
OK, OK. So so the answer to that question is no government can ban it successfully because where one country fails at accepting it, if the US is like fuck Krypto, you're going to go to jail. Switzerland is going be like, come right on in.
I'm not as worried about. Does it make sense? Why, why? Why? Because they want their businesses to be built in that country. They're like, oh, economic power. More for us. Great. You fucked up the opportunity. Now we're going to build it in our country so the whole world cannot systematically ban it because we're one country doesn't want it. Ten others will be like, please come to us.
What about when the entire ecosystem becomes decentralized, where that money is equal in weight in any country and now country one. Now you have a band that is a global band. Essentially, it won't happen.
Countries compete with each other for economic dominance. And so one country, if they ban it. Another country we like, well, if you don't want these trillions of potential dollars of business like growth yet, we'll have it, OK, so it'll never happen. What about just taking them? They can't take them if as long as you have your private key, which is just like string of numbers, which you can literally memorize in your head, I mean, it'd be really hard to.
But you write them down on a piece of paper. You hide him somewhere. And as long as you have that number, there was no physical wallet that you could have that if you lost or was destroyed, that you couldn't recover your Bitcoin from the block chain. Got it about hackers and what happens if you lose that number or that number that's gone forever? Yeah, well, this so so that can really you. So I got it.
I got it. Wait.
So the solution to that that we're working on right now and by we I mean like me and my team, that I don't mean like we but like people that are way smarter than me. They're working on biometric identification. It's like your thumbprint. Oh, right. Cool. So it's like it'll be attached to your identity somehow. OK, so instead of a long ass string of numbers, it'll be like, yeah, just put your thumb right here.
Yeah. Because I know some people who have gotten fucked.
Yeah. Look, I lost the key or hacked compromised via some sort of.
So there's a difference between leaving your money on the block chain and leaving your money on an exchange like Coinbase or Jemini, because hackers can hack the exchanges, but they can't hack block chain. They've tried for 12 years now, 13 years almost. Give it time. There is literally hundreds of billions of dollars at stake. That is the biggest honeypot we've ever had ever, and they've not been able to crack it.
You don't think they'll figure out a way an 11 year old? There's only one way that we can crack it right now, and that is quantum computing, which we don't have. It's like perpetually 10 years away.
But that's what I'm just getting at. It's like perpetually 10 years away. But like eventually it won't be. Eventually quantum computing will happen. But there's a solution for that, too, for bitcoin.
Like there's literally a backup plan. You know what it is.
No, you've heard of it. I'm sure you've heard of it.
It happened in twenty seventeen and the Dyson sphere type three, it splits the chain, splits housing have not to have any know how you split the block chain.
You split the block chain into two different coins where one path is the hacked one which is the original. What we have right now is called the shot to fifty six cryptographic algorithm. That's like, that's like the, the security that backs Bitcoin. Right. So it would split into two separate chains where one of them would be the one that was quantum hacked and the other one could be based on a completely new set of cryptographic rules. That is not quantum computing hack hackable.
Which is completely different based on like different mathematics, like initiates the split, it's the miners. So remember that those people that, like, saw the Rubik's Cube, basically, it's the equivalent of them saying, like, fuck these Rubik's cubes. Let's go to these other ones right here. OK, that makes sense. Yeah. So if you own one or let's say ten bitcoin on one chain and it splits, you will own 10 on both.
Well, does it make sense. OK.
And then there will just be a drop in and there will be a consensus. Yeah. Yeah. Probably don't want to lose value but the consensus model will go with the new chain that is still functional. Gotcha. So it's like it can't really be destroyed because when one gets destroyed, it splits into a different one. And so the natural next question, if you ask, is like, well, why can't you just copy the chain? Like, what happens?
What stops the government or anyone else just copying the code of Bitcoin because it's public? Like, why can we make a duplicate of Bitcoin, right? And the reason we can't is because Bitcoin is not just the code itself, it is what's called a network effect. Those are all the businesses that are built on it all the all the miners and all the people that are involved. You can't replicate that. You can't copy paste that.
You can copy paste the code. But all the support and the infrastructure that is running Bitcoin cannot be replicated by a copy paste job in all at the highest level in all, you know, like seriousness.
It's not that wild of a pipe dream to imagine that this could actually take place.
Like like when you look at when you look at what's actually backing the US dollar, which is so important to people, and they spend their entire lives trying to buy houses with the US dollar, buy cars or the US dollar, the US dollar is a piece of paper backed by nothing but trillions of dollars of debt. So there's nothing there, like, you know what I'm saying? So it's it's very much is becoming more and more believable that this actually can take place.
But what it does the byproduct of this actually happening is the destruction of the elite. And and I am just so curious to see how. That happens and how it's already happened, and I know I get so many times right, right in history, we've had we've had a transformation from like we've used resources like gems and seashells. And then I was like, all right, cool. Let's move on to something else. I found this thing called gold.
And it was like, all right, that's the new thing. So if you had gold, you were the next transfer of wealth goes to you after that. We had oil, right.
But didn't it seem like a lot of the people with the most gems their kids ended up with the most gold and their kids ended up with the most oil? Yeah. You know, there's always like at the end of the day, it's it's all generational anyway. It's like you've got inside. You've got white kids in Greenwich right now, Connecticut, that are pumping bank accounts or crypto wallets. Sure. Whatever filled with coins so that in one hundred and twenty years their kids are going to Yale, you know.
So it's nepotism.
Yeah. Yeah, for sure. That's that's always going be around.
The one thing that's in my mind is that when you said, like, knowing where a politician moves money or transparency, what I'm saying is I don't know if that necessarily would work just because. I believe every country is built off of a lot of dirty money, and I don't think they're going to want to expose what they're actually doing, saying they don't have a choice.
I don't think they're going to let that happen. And that's what I mean. I don't think a country is going to do that because they might want the money and power. But if it's going to flip the switch on them where they don't have a say on things like that's where people go, OK, do I want money or power? And a lot of people want power. Money is just a vehicle to give you power. So if you're going to trade in power for money, it's pointless in their eyes.
I get what you're saying, but in some ways they just don't have a choice where technology is going right. At some point, the reason that the government can't just get rid of it is because it's going to it's about to become so relevant with the way that we use it every day that these politicians that we think are going to ban it, they're going to be like, wait, I can't ban that. Should I use it myself? Does that make sense?
Does the idea of those people that we're always looked at as the enemy embracing the project scare you? You know what I'm saying? Like all the people that you're like, you know, these are the guys that we're trying to drain. All of a sudden they're like Bitcoin, Bitcoin. You're always welcome here, guys. Come on in the Senate. Let's talk about it. Like, does that scare the people that that created this and know getting in bed with the enemy?
No, because I think they're completely clueless as to what Bitcoin really is about right now. All it is for most people is it's like it goes up in value. And I got rich. Right. That's all it is. But behind that, it's the most powerful tool that humanity has ever gotten. And they don't understand that yet. They don't get it. Well, I have one more question for you. We probably do more even because we got some time ago.
Maybe I'll have one and that's it. And then I'm leaving right after this question. I'm not going to listen to your answer.
My question is, what happens when the government is like, OK, cool, this is like actually in effect and it's moving fuck bitcoin. We're going to bring all the brightest minds in the world to invent something equally as great as that. Right. But it's going to be under our control.
And they're doing that. They are literally doing that right now.
And it's not is it is it a coin or is it not a block chain?
It's it's hilarious because that's why I'm saying they don't get it, because they are trying to recreate the wheel. But instead of creating a wheel, they're like making it the most fucking complicated thing ever. So block chain only works if it's going to be a decentralized kind of a thing. So what corporations are doing, they're like guys. We restructured our banking system on the block chain, like, what the fuck would you do that you already have a database to do it for you?
Why would you want to complicate it with a block chain? It doesn't make sense to have a decentralized, centralized tech. Does that make sense? Yeah, yeah, yeah. It wouldn't work. It doesn't work. And so when they're like we're advanced guys, we get it. Come, come to us, we're advanced. It's like, dude, you miss the point, right? It's not about having your database be decentralized because you fucking own it.
You control it. That is not decentralized by definition. It is not block chain. What about what about the.
I'd like to just just let me try and save time. Yeah. There's so much to unpack here. Yeah. There's a lot.
And I want to try to understand exactly maybe what a bitcoin is before we go. Sure. Any further. So correct me if I'm wrong. There is a finite amount of bitcoin. There is twenty one million. Twenty one million. And how many have been mined thus far. Around eighteen, 80 million. And how is Bitcoin mined and how many are mined? The part that you're kind of already hit on it. Right, because it's is it is is are there miners.
They're sitting at supercomputers cracking equation until the what happens.
There's a bitcoin like pop up or like where does it go. Is it in the ether. Like what happens. Yeah.
So imagine so I don't have like the numbers off the top of my head, how many are created a day. But I do know that I think by the year twenty one forty four. So on about one hundred twenty years from now that's when the last bitcoin is going to be mined on the block.
Why so long on the final. Because what's called the happening. Right. Oh so when I brought up earlier.
That's right. Nothing to do with what you're talking about. Yeah.
Because every time these people solve these Rubik's Cube after a while the difficulty increases. Yeah. And that's just to make sure that if tomorrow we didn't create computers that could just mine everything all at once. We're making the difficulty of exponentially increasing over time so that we slow down on what's called the inflation of Bitcoin, so that it's not printed infinitely. It's amazing. Yeah. So it's like built into it's insane. It gets difficult to say. Oh, beautiful.
Who came up with this? I don't know.
This is crazy. Is it a miracle? Is it a miracle that it happened or was this like a very calculated like, I don't know, objective with an end point?
It doesn't make sense, because when people try to analyze, like, what the hell it was, there are so many things about it that it's like one person could not have created because there's like cryptography and coding and economics and game theory. And it's like one person. There's no possible way they could know and hit upon all these points. Like you just said, like it's like it's like magic. Like so many things came together in the most elegant.
So looks like a bunch of elite people got together. Oh, no.
Oh, no, I don't think that's gonna happen because I still I still want to know what happens when, you know, a minor you know, he's in his construction hat and he got his pickaxe over the shoulder and he's got his supercomputer and he cracks the equation like, where does the new Bitcoin go? Is it his? Yeah. So that's, from what I understand, divided amongst the miners that were participating of how much work they put into it, how much power and energy.
What does that occupation, what do you do for a living? I my bitcoin. Yeah.
Yeah, I'm a miner. Yeah. I'm under 18. What is it Jeff. What's one of these kids. What are these miners look like. Coal hats not sitting.
So, so OK. So we used to be able to mine bitcoin with this, with this computer laptop.
We were like literally a laptop. People would just mind it with our gaming computer and it was super easy. But then it got to a point where we had to create specific like ASICs, like these Aztec technology of these computer processors that were only supposed to be mining this stuff. And every cryptocurrency has its own like native, I guess. Formula to mine it. OK, yeah, so exactly. So you see these are called, though main ATM.
You see that right there. Yeah, that one right there. Yeah. So if I buy these so now that one used to cost like 12 grand, now it's three because it's not as powerful as it once was. So you need a ton of these like people like literally I did a month ago. I was in some dude's garage. The whole garage was just everything was just all these.
And he's a miner. He's a minor. How many Bitcoin is he? Mind? He's never told me. No one like everyone is so secretive about this. Yeah.
And also, he probably didn't want anyone to know. They want the government to in his is probably like a novice set up compared to the ones that. Oh.
Know, like we've we've all seen the rooms at Google and Facebook with their data collection Schroder's. Yeah. I'm sure there are warehouses that have but.
Oh yeah. Maiko but here's what's crazy.
So in twenty seven dog mycar. I love this so I'm over there.
That's exactly what you guys remember in twenty seventeen.
How Bitcoin went to like twenty grand. Yeah I do. Because I tried to invest back then. Yeah. Yeah.
And it was too risky for my financial advisors to comfortably give me my own money to invest viral and they didn't know where to go and they didn't do it. And so now I feel like I'm, I'm late. Right. You're not late. So in twenty seventeen there was a lot of foma. Right. Yeah but that was from what's called retail buyers, which are people like you and me, which are relatively not very rich, not billionaires. Right.
And so this time it's institutional flomo. Right. So now you have corporations, companies that are investing one percent of their portfolio, which is billions of dollars into Bitcoin.
Is that why it's so high right now? That's what just yes. That's what's happening at thirty five thousand nine hundred forty eight. So you have guys like Stanley Druckenmiller, like all these super respected hedge fund managers, they're starting to be like, oh, shit, I finally get what this is. And so they're like, all right, let's put one percent in. Even then, not even scarier. Got involved. Yeah, yeah.
We're gonna ask this guy SkyCity person by now if it's that much money. Yeah. Because you can split a bitcoin, right.
Big enough to buy a fraction of a billion.
One hundred million ways I believe one bitcoin. Yeah. Where's this going man. Where's me in ExactTarget. I think that's a really easy example. So I think and maybe I'm wrong, but I think that Bitcoin is going to surpass gold's market cap in about this decade, like in the next ten years, the next eight years, probably. What does that market cap really now? So so gold's market cap is ten trillion, right? I think Bitcoin is.
Look it up. Is it six hundred fifty billion. Bitcoin, I think it's like six feet, and just for people who don't know the market cap is what exactly it's like the combination of all the money in that space. OK, three hundred fifty billion dollars for Bitcoin.
No, that's incorrect. That's incorrect. It's like it's in the six hundred or so bitcoins.
Market cap could hit one trillion in twenty twenty one.
Yeah but what is it right now. It's like 600. Go to coin market cap right there. Yeah. This. Yeah. There we go. Six hundred seventy one. So divide whoever has a calculator. Divide a thousand supply by sixty seven. I could do this. Divide a thousand by sixty seven. Divide a thousand by sixty seven. Yeah. What does it say. Thousand divided by sixty seven. Fourteen point nine. OK now multiply fourteen point nine times thirty six thousand.
Yeah. That's where it's going.
Oh no. Oh five hundred thirty seven thousand three hundred thirteen. Hey Mom, can I have a few more dollars to put into my bitcoin. So that's going to happen this decade. But that's not the end result. That's just like peanuts for now. What. Yeah, that's that's in the short term.
So in ten years, one decade, if bitcoin possibly be if it becomes like a global reserve world currency like gold used to be, then it could be in the multiple millions bitcoin. Yeah. What.
Yeah. I'm rich. Yes. Of. Yeah, but that's what here's the thing, here's the thing by that point when Bitcoin is worth a million dollars like stuff that you think you can afford right now would be 10 times the amount. All right.
Because no know inflation. Right.
So it's not so much that Bitcoin is going up in value as much as the dollar is falling in relation to it, because as we pump more of dollars into the system. You need more of them to buy the same thing, and that's why it's increasing, OK, because we're pumping so much money into the system. So so basically what that means is if if Bitcoin does that right. Then the the result and what you make out of it is not as great as what people think it really is because of the relationship with what you have to buy with it.
So my question is. There's there's a lot there's a lot more inherent risk with it, with a Bitcoin investment, because the upside potential is blocked by the relationship to what it will cost to purchase things with said profits.
No, they're not that far. It's not like such a close relationship.
It's still a you were literally taking more risk right now, not owning Bitcoin, then having it.
Oh, my God. Like not having it is screwing you more than have. That's that's an insane statement. Yeah, that's insane. Yeah. And there's more than one cryptocurrency. Right.
So there's a lot to unpack here. So, OK, so with Bitcoin right now, we're also going to see a lot of I think this year, probably this year, I could see someone like Elon Musk or Tesla being like, hey guys, by the way, I put like five percent of Tesla's cash cash reserves into Bitcoin. Oh, my God. Once that happens, it's going to be like a domino effect of like all these companies from the S&P 500, which are the top 500 companies in the US.
Right. They're going to start announcing the same thing. They're going to be like, oh, yeah, we had some to JP Morgan Chase, the bank, Jamie Dimon, the CEO, he's talking shit about Bitcoin. And I guarantee you at the time that he was his bank was buying it all. Yeah. Yeah. That's how you did. That's how you do it.
Oh, it was just PayPal just announced something.
Right. So, yeah, they're starting to integrate it, which is another reason why a jumped. Yeah. Because PayPal is going to do it. Yeah. Mark Cuban said he'd run for president when Bitcoin hits a million. Oh yeah. Yeah. I hope he's alive by then. He's something like fifteen, twenty years probably. OK, that's insane. OK, so, so yeah.
Though there's, there's more than one cryptocurrency. Right. So even on this list. OK, ok. So in theory is my my second favorite really. Miklós favorite. Most people's second favorite. Yeah it is, it is the second favorite is the poster child of.
Yeah. And the difference between Bitcoin and Ethereum is that Ethereum is going to be like what's called the M one global supply of money probably. So M1 is like economists call it, is all the physical money that's in circulation right now. That's like the coins and the physical dollars. Right. So Ethereum is like, let's say we had a dollar. It's like you implanted a computer chip inside the dollar, OK? It's like programmable smart money. So if I wanted to, I could be like, all right, if you guys visit my YouTube channel, I will pay you X amount of dollars if you complete it by this amount of time, I could put in qualifiers for you to do.
It's called the Smart Contract. So if you fulfill on that request, then you get sent the money. Does that make sense? And the reason that's amazing is because of what's called Dao's.
So about all that, it's my mom pick it up is more important.
We always pick up Anmar. Hi. We're on impulsive. Is everything OK? It is. I was calling to make sure everything was OK with you.
So everything's great. Got Bitcoin. Learn more about that later. Bye bye. Bye bye. That's awesome. OK, I love my parents so. Yeah, Ethereum. It's a, it's a, it's a USD with a chip inside it. Yeah exactly. It's the, it's the spend it's the more transactional. Yeah. Type of. Absolutely. Yeah.
So what's cool is like Ethereum is going to allow us to do what are called dals which are like the fancy word for it is decentralized autonomous organisations, which is basically like a company without any of the governance structure. So that's going to disrupt entire industry. So let's take a look. Like real estate, right? When you buy a house, you have to get a real estate agent. You have to go find the house. You have to get funded for it.
You have a buyer's real estate agent, a seller's real estate agent, like it's a whole crazy process. Why couldn't I just talk to you and be like, can I buy your house? Yeah, like, why could it be that simple? Yeah, that's what's going to happen with theory. Very, very cool. Ethereum is going to be like, hey, I got this house locked in this smart contract. If you send me X amount on Ethereum, it's automatically yours once you fulfill this parameter.
This is so cool.
So does so then. Does each one of these have a different schtick or does characteristic that specializes in.
Yeah, but I don't I don't like any other ones other than the top two railway.
Oh you're anti dogecoin also do the good as coin. You don't, you don't fucking like coin either.
No, no I don't, I'm not saying they're not legit. I'm not saying that. I just think that if I have one good idea, that's my best idea. My best idea is never going to be as good as my second best idea. I got it.
Yeah, but they're but they're also they each have USPI or differentiating factors. Right. So like so like that statement seems odd to me because if you, if you told me, OK, I really like Mercedes Benz. Right. I wouldn't expect you to really like BMW, but I might expect you to really like Coca-Cola.
I know what I'm saying. Like, yes, these are these are completely different.
I would rather be like, why would I buy Coca-Cola or BMW or Mercedes when I could buy the guy who literally makes the parts for all of those? Does that make sense? It's a theory on all of this is off the back of Bitcoin and Ethereum like all of the other, not really OK, but I, I suspect that Ethereum will be able to do virtually everything, all of these other ones.
But but aren't some of the coins that are coming out now simply just backing for businesses that exist in a more normal environment? Like like what? I was broider, I was here to talk about the ones he was bringing up like.
I know. Yeah. Do you have an OMG? I'll go. Yeah.
Yeah, I've heard of them. I need to go. Yeah. Yeah. What are you saying. What are they. What are those. What are those. I don't really follow them.
I'm just saying that I think that Ethereum will be able to do virtually everything all these other ones are trying to do. Got it. I think at the end of the day, they're probably going to be like three to five at the most cryptocurrency that are going to be the top dog in ten years from now.
And you don't know which I don't know which ones, but I think it's for sure going to be Bitcoin for sure. Sure.
Yeah, they've they've pretty much they've established Ethereum was was created by a kid metalic Buttar in Russian.
Seventeen year old. Seventeen. Yeah. He's like a genius. An accident. Right. Or what happened. No, no. I mean he's like a genius. OK, you had you have rich and I don't know now he is but I don't think he was. Yeah he was dude. Oh my God.
Brilliant. So backing off a little bit to how it continues to affect the society that we live in because because at the end of the day, like this is still only conversation that affects people who have money to put into this stuff, knowing that you can't do anything with it right now except for get that money back. So, like, if there's a if there's a grandmother out there or a mother or someone who is struggling to pay their rent, they don't care about this episode of impulsive.
All that money. Right, right. Like if they're like, yo, I don't have my rent money for next month.
Right. When is all of this going to start to be utilized in actual system? When am I going to get to stop and shop to buy a piece of meat for my brisket, for me and my kids eat that night and be able to use cryptocurrency to pay for the way it's going to happen is we're going to transition into block chain tech and you'll never know that you're using it.
They're going to pull a trigger. It's going to be behind the scenes, it's not right now. There's all hyperbolic block chain this block doing that. But like you as a consumer will not you don't care like you just said, grandpa, grandma, what do they care about block chain, this block chain that just like how easy is it to use? Can I use it? Is it simple for me to understand? And that's it. Well, what I'm saying is if I, if I have 260 total.
Right. That's my net worth. Sure. And I'm watching this show because somebody out there has two hundred sixty dollars. Sure.
What if I could invest in bitcoin, but I needed access to that. Like if I go to the store I want to use a little bit to buy some gas or something like that.
You don't want to use it right now. It's not a very stable currency and it won't be stable for a long time. There's going be a lot of volatility in the meantime. Right. So it's not a use case scenario just yet.
Can you even use it again? Oh, my gosh. You buy with certain pretty much everything.
There is a lot of payment processors and credit card companies that have already integrated blanching real currency. When you literally pay with your credit card, you are paying with crypto. But why would you want to do that if you paid for it? Like the dude who bought, like, whatever pizza for however many bitcoins.
And it was like, I appreciate because it went up in value.
So why would you want to use it so well? So it's the correct way. That's literally why Bitcoin is going in value, because it is swallowing all the fiat money that is out there, like all the bad money that is government money is being sucked up decent.
I really like what you Dicen dude.
It's sucking up all this shitty currency and it's growing in value, so you probably don't want to spend it. You want to use it as a hedge against the current system.
Is this what Hoddle means. Yeah. Talk to what the fuck is hot odl is like, oh the thick and thin. You just got to hold it hold. It's all the slang term it is.
Some dude misspelled the name hold because he was like, fuck, how did all that all the bitcoin collectors are saying Hoddle. Yeah. So just hold your bitcoin indefinitely.
Hold it indefinitely. Sixty percent of bitcoins haven't moved I believe in the last year or two years.
What are we in right now for bitcoin. Are we in the first inning still like has this game just start? Do you think it just started nice. I think it's a start. Oh yeah.
What can I buy my bitcoin on institutional sites like Robin Hood or or should I only be buying question on. Yeah, good question.
Base don't buy. Oh God. They're going to. Yeah. No I wouldn't buy, I wouldn't buy bitcoin unlike free.
I'm going to say don't buy it on free exchanges that are like buy it for free. The reason that I want to do that is because none of them allow you to have access to your private keys so that you can't send your bitcoin to somewhere else.
And like what I do with my Bitcoin is like once I buy it on Jemini, I will send it to a service called Block. Fine. They don't pay me to say anything, but that's just what I use. But I send it over there and again, it gets me, I think, six percent interest on my money, which is in your price to the top of the growth.
Well, it's insane. OK, for reference, the stock market grows seven percent in value per year on average. Yeah, right. This company, like all these crypto companies, they're basically loaning out money, they're loaning out Bitcoin to people that need the loans and in return for holding it there, it's like a glorified savings account. You just hold it there on a what's called a hot wallet because it's online and they pay you six percent annual interest on that money just for holding.
Just to hold it. Just to hold it. Why?
Because they're lending your money out to people as loans, OK? Right. Wow. But you can withdraw it at any time.
It's not like you don't have access to it.
You could withdraw at any time and you trust this random company. So. So that company is backed by Jemini. They're partnered up. So Jemini, the Winklevoss twins. Right. They're like, oh, they've been billionaires.
Houghtaling. Yeah, they're big modelers. So they're partnered with Blackfire now. So so all of them most of the money that is on block Blackfire and Gemini is in a cold storage. I believe 90 percent of the money they have isn't even online. This tells the difference being cold, not storage. So, so hot storage is on a website. Guyot's So that is susceptible to being hacked by hackers. Right. You know, but cold storage is on the block chain, which we talked about before, which is not hackable unless you're doing client quantum computing, which we don't have.
So that's the difference. And it's a physical. Hold your money like you need cold storage. Yeah, yeah, yeah, it is right, it can be a little on a piece of paper, though. What's what's it called? Is it what's a treasure? Is this a treasure?
I mean, I don't there's a lot of them out there. I don't know if you want a plug like a specific one that you do that.
Well, I don't I don't use treasure. I use ledger. But treasure was ledger nanobot like their emails got. There was a phishing like hack or something like phishing. Yeah. With mine was I guess with distance.
This sucked up all the, you know, you know, like they sent out a bunch of emails to customers and I was like, hey, log in here. And people like OK. Oh no. Was like yeah.
Oh that is that's like an OG. Yeah. I still have phishing.
People fall for it, but they did, they didn't hack the device itself. It was just the emails. The emails have nothing to do with the actual physical device.
You said something really interesting. I mean besides besides everything about a minute ago, what was it we're talking about.
Oh, the Gemini. OK, what you do with your bitcoin. Yeah. Yeah. OK, so you use Gemini. I do. I did Coinbase today. Coinbase is great. OK, let me. It's great. And why use Gemini over. Because Coinbase works closely with the IRS and they have kind of like given them data. Yeah. And then is a little bit more like buy the books and like really strict. OK, and they're a little bit more of a premium option.
But like I for some reason I'm like, oh I think they're safer.
What is it, what's the cost look like on it. I don't remember all the time I had what the cost is.
Is it a premium based on purchasing or is it a or if you membership, if you use their active trader platform, which is like a really it looks like a like fifteen fighter jet interface which I hate those. Yeah. Then it's basically free. You can like if you learn how to use it, it's not that hard. It'll take you like ten minutes to learn it.
I'd rather just pay men. I do too. I just, I just it's like it's like the Robin Hood gold.
Exactly. Different options.
And the Winklevoss twins are behind Gemini. Yeah. Who are behind your what's what's the company that does a six percent interest on your bitcoin block by block. And they're behind Blackfire.
Yes, Gemini. They're not behind it. Their partner together. OK, ok.
They I'm reading here they used eleven million dollars from their sixty five million dollar payout from their Facebook lawsuit against Zuckerberg to invest in Bitcoin back in 2013. And it made him a billion. Like a billion. Yeah, more than one billion. Yeah.
Kind of funny, right? Like ironic that a good still a little short a mark, but yeah.
It's insane. That's insane. Can't be too. How much was it back.
That back. Yeah. Yeah. No I believe it. Twenty dollars. Yeah. Twenty twelve.
I think, I think the biggest thing about all this is that scares me is the idea that your bitcoin can be hacked and to what capacity.
Like online. Yeah. So just risk what you want or not. Don't risk any of it. It's just a my theory is if you're going to have money it should always be earning interest. Otherwise what's like you should be putting it to work. Right. Yeah, it should be earning something. But if you don't want that and you're like I don't have the risk tolerance for it, just keep it on the block chain and that you won't earn interest, but it'll be in the safest place possible.
I'm talking about not not not on the wall.
You're talking about just in general hedge and getting hacked like quantum computing. No, no, no, no, no, no, no.
I'm talking about like an individual targeted attack because X, Y, Z knows that you have a lot of money stored in your wallet somewhere. One of your wallets. You mean like if you get kidnapped. Dude, I've seen it. I mean, yeah, it happens, right? Yeah. That's not a knock against bitcoin though. Or the tech. No, no, no, no.
It just, it just it scares me because it's gone forever. For sure. For sure. You just have to be smart with it and remember your stuff, write it down, put it in a safe and make sure no one sees your private key. It says it says our friend Psycho. She said yes, she is the richest bitcoin owner.
Yeah, he is one point one million. But he's not he's not he's not a real person.
Well, we don't he's alive by now, living more. Really. What if Sarkozy Nakamoto is actually Jack Ma. I doubt it, Jack was gone. Where is. Do you know where Jack Myers was? Jack is in my closet. Is he? Well, where the fuck is Jack Ma?
I mean, the government took him to probably like a reforming camp. Can you? It's happening a lot. There's a big problem in China with business people.
Yeah. Yeah. Censorship all the time. Yeah. Fucking Jack Ma. He's such a good guy. It's crazy.
I get overwhelmed when people tell me about bitcoin. I've been a little overwhelmed. I've been is asking questions about bitcoin. What the fuck are you doing? What are you doing? Can you show that, please? Why are you shoving that banana Riley Reid back on the head?
What are you doing? What the fuck you. You are literally.
Oh, there's a banana. What are you doing?
Why are the fuck are you doing? Do you have a contraption here where you took a metal straw and put it in a funnel?
And I look at my body, you see that whole thing at work.
It's not going to work. All right.
I hate what you've done.
I think they sell this product to Adam and Eve. Wait, what is that? Well, it keeps sticking the straw on it, like when it shits the banana touch.
This is horrible. But but the bigger question is, I understand it's not as successful as you thought, but what what are you what are you doing? Like, why are you going to look at it?
Uh, can't fucking dude. Yes. Rusty, I've been I've been asking questions about Bitcoin for four years, and it's such an abstract concept.
It took me forever to figure it out like I started in twenty twelve. And I think this is cool. I was like, let me buy it at one hundred dollars. I couldn't figure it out. I was like twenty three at the time.
I could not. How many bitcoin did you buy in 2012 and 2014.
It was my first time I bought him. I bought six of them for like three hundred. Oh my God.
And then I wish I had bought afterwards I bought a drone with those fucking six bitcoin. No. You should have. I know I didn't get Bitcoin, I was like, what is it? And then I saw it go down. I'm like, that's just a Fugazi. Fugazi, right? And I was like, there's no way that bitcoins this high. Like in twenty seventeen I came back 20. I was like, why? And that's when I really got it.
Are there any downsides to bitcoin downside, any negatives to cryptocurrency or is it all just this is the future dude. We're approaching phase one. I think so. But downside is like you just have to be take precautions to be smart, don't be reckless and don't start buying alts because you're like, wow, bitcoin is the future. And then some other alt coin is going to be like, yeah, you don't understand. But then this and they're going to promise you the world like this is going to change.
That's going to change. And you can be like, this is great. This is the future, because that's what happens. And then you get screwed. You start you start experimenting with, like different old coins and talk to me about NTIS non fungible tokens. God digital are. You're talking about like when it's attached to like an asset where they're yeah, so I think you're talking about like, gosh, what is it? It's, uh, you're attaching identities on the block chain like so like because it's an immutable like you can't change the public ledger.
You know, you're basically it's called like tokenization. That's the word OK. Or it's like take your Shazad car that you pulled. Right. If you could be like, all right, I'm going to do an echo of a chazan. And you're like, I'm going to issue 50 percent of the equity of this Shazad, which is by now is like, what, 300 grand or something? Yeah, yeah. I'm going to 150 grand. I'm I'm going to issue tokens.
Right. Token is worth X amount. You can invest in that token. So it's so cool. So now you have literally like fractionalized ownership for people. You'll be able to do that with cards, with your house, with literally you as a career. Logan, Paul, you'd be like, yo, I just want my own coin. If you want to be a part of my success and my yearly, like, salary that I make, I'm going to issue 10 percent of my equity of myself and I'm going to tokenized X percent.
And you, if you want if you believe in my future, you can invest in me and you'll only a fraction of my income where maybe you'll get dividends like interest payments based on what you own. And that's an IPO. Yeah, that's basically sort of yes. It would have to go to own a part of your your actual body.
Like, could they come in for questioning or a question that's left up to the courts.
Right. That's going to be like this, you know, like cool. Isn't that isn't that cool though. That's amazing.
Oh you got to do it. I mean, yeah, I stuck the banana on the funnel. Yeah. Just my where to go. OK, OK.
So it's really deep. Like the whole thing is in there though. Yeah. Guys are professionals. OK, yeah. I might, I might find myself in doing something like that in the future because a couple they're celebrities with coins. Right.
Yadi Coin didn't, didn't, uh the bitcoin coin.
Oh yeah. Right, yeah. I mean there's a lot of people are going to start doing that once it becomes normalized. And if we can get like the courts to, you know, honor it, like if there's disputes then yeah, I think it's going to be a big thing. Where does it stop when at all?
It just seems like people are just like, you know, at my table is now for coins.
I am. And people are like, yeah, table coin. Like, where the fuck is his end, bro.
Almost all my bathwater now. Yeah. Like nobody doing that shit.
Can you Bible Bell Bartholet with bitcoin as I say, always so smart. She was smart. She would start Ixtapa. Sure. As I show it. Yeah.
I think I'm going to sell one of my first edition booster boxes. Really. You have another one.
Oh bro I have another one.
I thought you only did that one. Oh my friend.
Well, I think I want to sell one of them with some sort of cryptocurrency.
Really. I think it'd be great exaction. It'd be great if I'm in it appreciates it. You want to buy one right here. Right now they're going to charge like fifteen grand again.
Give him a discount. So much.
Is it more now the first edition boxes are like three fifty. What about a single post pack. Single booster pack from the. Yeah. Is it unwaged. You don't know. Oh you're not weighing them. No. Right.
OK, so I don't know. I don't know. We'll figure it out. That's fair. Yeah.
I want to do another break soon and I want to attach a crypto element to it. I think this is I think you have the platform to do it in a way that I think is going to get a lot of traction.
Yeah, it's it's such a fascinating. It's phenomenal. Futuristic. It is. Yeah. Progressive movement. That's all. That's why it excites me. Yeah.
Type oneself. It is type one, because now you have a planetary civilization that can evolve in life. Get involved in your career on a global level. Yes. Like I want to invest in you. Yeah. Like never before has that been possible. That's so cool. That's so cool. Yeah. I have some stuff planned. Yeah. I can't wait to announce it. The government has to hate cryptocurrency for now. They just don't understand it and they're scared of it.
They don't hate it, they don't get it yet because all the people that run our government, their grandpa, grandma, they don't like what's the Internet? Yeah, they don't they don't get it.
They're not going to get it. That's going to be our generation.
Yeah. They will not have any bitcoin related or cryptocurrency related is so much that they do this so much that hurts from all of this calculations and metaphysical.
Do you want to try to slice this banana with a card? I'm not going to go to do it. Yeah, I haven't done in so long. Why not? You know, do it because it doesn't pay.
Well, you better do.
Can you do a card check. Yeah. Like a magic trick or like I going to seen my cards, their bitcoin cards. Correct. Not I had a deck right as I opened it. OK, yeah.
So the bitcoin cards they are. Hold on. All right. Can I, can I have you pick one. Yeah. Yeah sure. Yeah. Yeah. She was carefully Georgette's. I'm going to stop her stop right here. Yup. All right. Uh take this. Oh thank you. Yeah. All right. Where am I playing the camera. Right there.
That one. The one guy in the yellow shirt.
I'm gonna tear this card, see if you can hear it. Can you hear it? Yeah, yeah, I heard that last part. Hold on to that. Oh, Hottelet model. We're going to diesen it, right? I'm not going to get anywhere near anyone. I'll be right here. Fair. Is everything so fair? Yeah. Looks good. It's gone. Where's it at, Logan? You've been sitting, right? I haven't come anywhere near you.
Right. Not that I know. Look what's right there. Where? Under your microphone.
No, stop. Where is it? Wait, what is it? Is it the same? Match it up. Match it up. Hey man.
No, he said Matt, literally give us the card because I'll. I'll fuckin leave right now. What the fuck.
What the fuck. How is that possible. How did you do that.
How did you find this bro. That's not OK.
Just did it. And it's also, like I said earlier in the show, very closely related to block chain. In my eyes, it is bitcoin like you, just the magic of finance.
I mean, it's decentralized, peer to peer, instantaneous cryptocurrency, obviously. But the question is, was this your card?
That's just crazy. Yeah. Good for you. Why do you do it off of a Bitcoin card? I don't know.
But I know this is this is just cards that like I make, but I don't sell them, as you said, your friends Gram Stefan.
Yeah, he bought a pack. He bought a pack for dude. I was going to buy a pack from you. You should have. I should have. I had six Wade Paxson on in my car on eBay. And then you're like, all right, you dropped that video. All of the packs instantaneously tripled and gone.
Yeah, yeah, yeah. I think I think Pokemon is just getting started. I just think at some point it has to peak because it's unlike decentralized currency, it's not currency. They're just playing cards like, you know, at the end of the day, like, what does it go to? Just playing well, great.
Beautiful, life changing, magical playing on your fucking mouth.
Sorry, but I'm just saying, like, where does it end? It's art do so I'm fucking with Bassat. First edition stuff. Blue chip stocks, Bluetooth, Stokey Bluetooth. Bluetooth.
Yeah, yes. It's so Pokemon. The Bitcoin, you know.
Right. Yeah. No I don't think, I don't think we've peaked.
No. No. On the long term. Oh look at what you're doing. Yeah. I just saw that it was weird. Oh yeah. Dude I don't make microphones in my way. Oh here you go.
Why did you call the Elkhart's. These are pretty know.
How do they find you to to do the card history. I didn't know that was or the card issue in. Now you see me.
Oh my God. Oh my God. This is insane. Wow.
Oh you're like Jeremy Piven in Smokin Aces. Whoa. He had no trouble unlocking a girl's bra. Oh, abs. He was like, yes. And then every girl.
Oh shit. You mean unlocking more bras after bitcoin was up. Yeah.
I assume mind him, mine and I try to make sure we all try to slice this banana.
Right. All right. All right.
That's nice. I got I got to show you this. This guy do it well.
Almost killed me. Oh. Where should I go. So. So you want to hold it like this. Yeah. So if you're at home I'll take a card or credit card.
Hold it. So you're right. Right. Yeah right. You guys are already. Yeah I'll be ready. So, so hold it here on the corner in the upper left hand corner like this and you can see how it's like loose a little bit but it's enough to hold it. So when you do this, when you kick it out, the momentum of the card will come out naturally and it'll just uncurl your hand.
Does it make sense? Yeah. Yeah, that's was good. Oh, you almost killed Dylan. Oh, I still got my slice.
And then you slice the tip of the deck off without to kill me. So you see if you use, like, your body into it, you know, like with your own cards that have been in it, really someone's going to slice it.
I was like, oh, Justin, I'm sorry, are you alive or dead or whatever your body and half the life that we're losing, that one is a whipped up. Oh, yeah. I don't want to. I don't want that. Oh, my God.
Some of these are lasers right here. Oh what that what. Oh. Oh careful. Right I right. I'm sweating. I'm sweating.
Yeah. Oh you hit it twice. Oh well you know what I see in motion like. Oh yeah.
Oh you just like put your body into it you know like like oh it's not gonna be able to slice it because I think that's a steel rod in the middle of it.
But it shouldn't stick at least no, not and I and I shouted, you hear that? Wow shit, I fucked this banana once again. It was used in the last slice of it. Yeah, it's been. Oh, I want to go home right now. Oh, OK.
All right, all I'm saying, do it on the credit card with your credit card. It's going to kill somebody.
Oh, I got this right here, guys. This is the future of investing in America at work. These are going to be these are going to be people that own the institutions.
This is a magician. And now we're going to give you the investing advice. Are there any other more up and coming exciting investment opportunities? Yeah. Let me know. When are you guys going, oh, I want to be part of this. Yeah, yeah, yeah. I think it's going to make some waves and things would be cool. We got to thing we got to think of and that's going to be cool man. Why does Amazon not pay taxes.
Because they, they are, they keep their money offshore and our laws allow that. And so they save a lot of their money. Explain how that works.
I'm not one hundred so familiar with how like the specific mechanics of it, I'm not like the tax returns they employ.
They employ so many people. They have a ton of infrastructure in the United States. Yeah. They export a bunch of loopholes in a bunch of loopholes that protect the corporations from paying taxes. They move. Jeff Bezos pays taxes, should raise taxes. Sure. The corporation that is Amazon doesn't pay taxes because they employ hundreds of thousands of people. Right. And do. And by the way, I'm not saying this is right or not right, but they there's a consensus that the that the gain for the country off of them being a corporation is greater than what their tax payment would be.
Sure. If that makes sense. Absolutely. Yeah, but I don't I don't I don't know the specifics on taxes. Attorney I hire those people. Yeah, that's Matt Coolman. Thank you. Where'd you get that question from? Just randomly.
It was on my list. And I am also curious because it's crazy to me. Right. Like I read somewhere that they didn't pay taxes and that doesn't make any for how much the Donald Trump was like a couple hundred bucks, right?
Oh, yeah, that's true. Yeah. It's a lot weirder when one person when a person pays Republican tax cuts, twenty, seventeen carryforward losses from years.
So not being by the way, by the way, here's what happened today. Right. So the Senate run off elections, right. Yeah. Where. So the Democrats took both the seats in the Senate. So now we're going to have a Democratic Congress and a Democratic president, right? Yeah. So now just stimulus for all. Two thousand dollars. Stimulus checks like just money for everybody. I mean, at the end of the day, it's all really is.
It's just waves of back and forth, you know? And I'm saying, well, the bigger thing that will happen, by the way, you and you said that on the course to step with us to being a step one civilization, that decentralized currency would be the biggest step, decentralized or centralized government or sorry, unanimous government without a two party system is actually the biggest for sure.
That, yes, that would be that would be a planetary rule of governance type of thing, you know what I mean? And we could use technology block chain to basically make sure that it's all transparent. We have access to it, that we have access to it, that we could see where the money is going. Right. But what I was saying with the Senate, so now that the Democrats have control over everything, this is why Bitcoin is pumping and it's going to continue to go because free money for everyone was that do you flood the economy with more money?
So is Bitcoin a liberal platform? Libertarian, yeah. Libertarian. Yeah, not authoritarian. No, not yeah.
So they don't fuck with Chick fil A chick like Chick fil A I think. And Bitcoin. I don't think so.
Justin Logan. Paul throws up massive gang signs and what to do it.
No, you do it without cards because I think it's all we got. Don't forget to hotel it.
Don't forget to forget the holiday. See if I can. Oh no.
Oh, shit. We're going. All right. So so we got more troops. There's you didn't see that. So imagine bitcoin is like was once four dollars. Right. For to screw this up. I organized all your faces are the same. Yeah. So I mean it's, it's a real money so there's not much you could do with four dollars. Right nowadays. Uh watch a camera right here. Yeah. Oh wow. Wow.
Did you do that with my money. Yeah. Is that what bitcoin. You just you just hired extra money.
High level. Very stupid. So that's a bitcoin does. Yeah it does. It appreciates how you know that's how we got the woman has brought to Poppy. So you got four bucks in your. Here you go. Just like I need it.
Dyson's I Andre Braugher, thanks for coming out. And Paul, thanks for having me.
Yeah. Yeah, yeah. I appreciate you both. Thank you. Now we know more and more about crypto and hopefully you guys do too.
And if you're smart, maybe, maybe that's a little bit in the cryptocurrency, do it.
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