Video URL: https://www.youtube.com/watch?v=EnhGlgCm4MU
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sort of mimics real work so it's really good for like a conditioning workout if you want to do something that really like UPS your uh UPS your cardio just just pick this up and slam it on the ground like 150 times you'd be [ __ ] exhausted bunch of different exercises that you can find with these things too really uh it's kind of cool um there's we have a video of a a bunch of them uh at on it and we also have a workout section at on it that you can go to for all the different um uh workout equipment like the steel Bells kettle bells we have uh a new video that Aubrey and I did where we were talking about our favorite exercises show some alternating cleans and a bunch of different things we're going to put these out as as much as possible um one important point though if you're going to do anything like this if you haven't done it if you don't have a background in strength and conditioning if you don't have a background in exercise please start slowly concentrate on the proper form if you can film yourself and compare yourself to the way other people are doing it in videos to make sure that you're doing it correctly if you really can the really the best move is to get a trainer get someone who can even just for one workout show you how to do it correctly so that you're not [ __ ] yourself up you can work out safe and and efficiently with this stuff but you really ought to make sure that you do it correctly to do so all right go to hit.com o nnit t use the code word Rogan and save 10% off any and all supplements Andreas antonoplos is here and we are going to learn more than we did before about the wonderful powers of the Bitcoin Joan podcast check it out The Joe Rogan Experience Train by day Joe Rogan podcast By Night day boom how are you sir I'm doing great great to great to have you back again man it was fun having you on before and a lot of feedback a lot of people learned a lot about cryptocurrencies and the benefits of them what's going on what where the the pushes where the negative things are and put a little balance to a lot of the negative press that you hear about Bitcoin and all these different various uh cryptocurrencies in the media because that's literally all I hear I mean I know people are trading things back and
forth but you really put it into perspective for us especially when you were talking about that what was $150 million transaction is that was the one that was done through Bitcoin when you start hearing things like that you go okay well there's some people out there that have some serious [ __ ] money and they're banking on this they're they're throwing their chips in this corner at least some of them to see what's going on and I guess the idea is if it's worth $150 million today who [ __ ] knows what it'll be worth in 5 years that's the big gamble right yeah yeah it is but I I think it's important not to look at it as an investment um it's so much more interesting as a means of exchange than as a store of value it's it can do amazing things in terms of velocity just getting money from one place to another and it's not about the big movements what's even more fascinating is the small movement mov so for example I take tips on Twitter and without knowing these people they can send me a quarter like 25 cents or 10 cents over Twitter instantly and you can't even do that with any other payment system because it costs so much to move money and it enables all of these little tiny tiny transactions um and they add up you know uh and it it's fun to to be able to connect with people in that way and it's direct unlike say like a PayPal situation where you have to give them a piece the action yeah and not just that I mean it requires no prior arrangements of any kind they don't need to create an account I don't need to create an account I can just put up my Bitcoin address and start receiving things now if you pay taxes on bitcoin does does it I mean how do you sort it out over the course of a year because the the the dollar value of it goes up and down yeah so how do you figure out like when you make taxes do you do it at the current rate the day you file it I mean how do you do that um well we're first of all we're still trying to figure that out uh it's been about a month since the IRS uh released some information on how they want to tax it and they're taxing it like a commodity which means capital gains so um you have to account for the price when you bought it and then the price when you sold it and then look at the difference and if you gained you you pay tax on capital gains tax on that and
if you lost you you can account for Capital losses that seems like if you people were smart they would buy up a shitload of Bitcoin and then sell like right before and [ __ ] crash the market and then pay their taxes and then buy and then you'd [ __ ] just keep winning yeah the Market's uh big enough that you can't really play those kinds of games dude always thinking it's going to get complicated is that a possibility could you do that and did I just violate the law no that insider trading confused the the Market's uh the Market's pretty huge right now so the on a daily basis uh tens of thousands of Bitcoin move around so unless you were able to bring a very big amount to Bear you can't really do that you can't move these markets artificially you'd have to be like some Bill Gates Type character to do that and and um it would be difficult there are far more liquid markets to do that you know if you want to play games like that go play them on S&P 500 with front running high frequency trading that's what's going on that's where the big games are being played this is small stuff they have to make the stock market illegal they really do the shit's yeah you got a good point too about saying that it's important to not look at it as an investment because there's some kind of gross about those kind of Investments like when you find out like someone got in on a stock early like some tech company and they made like 300 million bucks like for no [ __ ] reason and then you're like wait a minute what what how did you what did you do where's that money coming from I don't get it it's it's way too volatile um because it's it's a growing technology it's a brand new technology is still being tested it's way too volatile and for the average investor that means it's is way too risky now there are some investors sophisticated investors who have a broad portfolio and who may want to take a small part of that portfolio and put it into a very high volatility investment in order to churn some returns out but they would do that in a very uh knowing exactly how much risk they're taking which is a lot and balancing out that risk over a biger portfolio but your average person no this is definitely not the kind of thing you want to be playing with use it to do transactions hold it
for long term playing with this Market will only get you burned H there's this there's this real temptation to try to day trade this Market uh and a lot of people fall for that Temptation I play with it when I first started with Bitcoin was you know learned that lesson pretty fast so you're if you were day trading exactly how would you work that out you would say you you'd buy up a bunch of Bitcoin and then when the price hit a significant margin like if it got to a high enough level you're like you know what I think we just hit the lid sell that [ __ ] and then you sell it yeah Buy Low sell high it's a simple rule but the problem is you never know where high is and you never know where low is and most people essentially end up falling for the basic psychology of panic and greed and so they end up actually buying High because of greed and selling low because of panic and then they end up flipping that equation and losing a lot of money don't do it I mean it's really not worth it this is is a very interesting technology treating it like uh Penny Stock and trying to greedily make money off it will only get you burned well spoken as a True Believer I I I agree with you on that and I think that's cool that you uh you stress that what I keep hearing about this Mount goau monkey in the news man this guy is constantly in the news yeah what are they going to do with that dude and for folks who don't know explain if they haven't heard the earlier podcast explain what this uh Mount gawk situation is so first of all there's no mountain uh uh here's the interesting story this started out as a trading site for uh cards for playing cards called Magic the Gathering online exchange which everybody knows and no offense to Magic the Gathering fans you guys are [ __ ] dorks okay there's no offense no offense I'm a dork too there's a lot of dorkiness to a lot of things that I enjoy y but you guys are [ __ ] serious dorks and that was the basis for the original Mount gawk site and then the domain at least yes and then it became this exchange one of the biggest exchanges in the world for Bitcoin but not secure not coded properly just a wreck well the thing is um empty gaau as I like to call it uh which kind of rhymes with empty gaau um because it
really is just an acronym it's not a mountain um it started off as a trading site and it offered something really important and valuable in the early days of Bitcoin when you were trading locally among individuals there was no price Discovery mechanism there was no way to figure out how much of Bitcoin was worth because there was no liquid market so you know if I if I bought some Bitcoin from you we had to figure out what price we were both comfortable with and maybe we'd ask somebody else well how much did you buy it for and that's how you discover the price right because if there isn't a really big liquid Market you don't know what the price is was it more stable then no it was uh it was uh even more volatile because keep in mind at the time Bitcoin was trading for uh thousands of a penny uh or pennies so you could basically buy a th000 Bitcoin for a dollar in the early days wow and that would be worth what like a hundred grand now or something close to it or F that would be worth half a million dollars now half a million well wow I'm so behind the price what is the price of a Bitcoin now oh it's 500 bucks now y wow wow I was way off I was think it was 300 or something I yeah I wasn't sure it's been down what's the lowest it's been like in recent times uh so last year this time it jumped from about 100 to 266 and then uh dropped again down to 50 um so at some point last year it was 50 and then uh in the me now it's 500 then it went all the way up to about a, maybe 1100 on some markets really and then it dumped all the way down to 800 stayed there for a bit and then it dumped all the way down to 500 and then it had a brief period flirting with 370 and then it went back up I mean so here's what's happening um every couple every few weeks um China started back in April of last year the China Market opened up oh sorry in November of last year the China Market opened up and everyone was like yeah China's in Bitcoin to the moon the price shut up oh interesting and then China said we're thinking of banning it and the price crashes and then but maybe we won't ban it and the price Rises and but maybe we'll ban it and then the price crashes and we've been playing this is it banned is it not banned is it banned is it not banned for the last 5 months and it's been a roller coaster and in
the end it really doesn't matter I mean so for folks who don't know what we're talking about uh this Mount gaau thing was this online exchange that it turned out someone somehow whether it was an inside job or not someone somehow was stealing money to the tune of hundreds of millions of dollars worth a Bitcoin took all of the money in the exchange 100% of it well like 85 90% of it oh my God so someone somewhere stole an insane amount of money but you're not hearing about some wild Manhunt to get to that money if it was like there was a guy named Lee Murray all right and Lee Murray was a mixed martial arts fighter from the UK who was a real crazy man he was like as wild as they come he was like a real live version of a character from a guy Richie movie guy was nuts he fought in the UFC was a really good fighter too fought Anderson Silva and cage rage I mean highlevel guy um and he was also a [ __ ] Thug like a super legit criminal and he was a part of a huge multi-million dollar bank heist where they came in with [ __ ] ski masks and bulletproof vests and and you know High powerered rifles and machine guns the the full deal like full Black Ops like like a movie and they I mean they have the security cameras of these guys and then somehow another they all got nabbed and uh this guy Lee Murray was one of the ones they chased after the hardest he went to Morocco he was hiding there and he got arrested there for he got arrested there for like kidnapping someone and beating him up like after he did the bank job this guy's a [ __ ] maniac right but the point is there was a [ __ ] man hunt it was all over the newspapers in the UK it was everywhere they were going after these [ __ ] and it seems to me like the amount of money that was stolen in Mount gaau is commensurate to this oh it's bigger bigger but but here's here's the is it really bigger yeah I think how much they how much was the UK bank let me find out nobody knows exactly how much is gone at gax but it's somewhere between 6 and 800 million oh my God it is bigger wow but here's the thing Bernie madof stole 20 billion yeah dollar 20 billion with a b and there wasn't a Manhunt there because the real truth is that if if you want to rob a bank what you do is you go get a banking license and then you rob the bank using
a keyboard instead of a machine gun yeah using loopholes no one starts a Manhunt that way um that's the modern way of doing Bank heists and and that's the way that doesn't get you shot and Nets you the biggest return well when you're a crazy criminal though and you don't know how to work a keyboard that well I mean you got to be you got to be l33t right to pull that [ __ ] off so this Mount goau thing someone somewhere has stolen let's put a number on it you say $800 million I don't know nobody knows it I several hundred million it's somewhere between five and eight I think let's just say it's $100 million let's give it let's be super conservative and say it's $100 million wor the current at the current bitcoin price if if someone stole a hundred [ __ ] Million worth of money like if $100 million worth of diamonds went Miss what a Manhunt there would be for that person but sums like that are are are stolen and go missing in the banking system and in government Affairs all the time and there's no Manhunt I mean this is fairly typical of what happens these are ycolor crimes it's about records and forensic accounting and Analysis and drawn out cases where they tried to figure out what happened the bottom line is every year about a hundred or more Banks uh fail spectacularly and the money disappears and this was just another bank failure it really had very little to do with Bitcoin it was a bank failure of the very traditional kind this was not um a system that used Bitcoin to protect its security it was a system that collected all of the Bitcoin in one big account uh and then lost that so it's essentially um the account was robbed and the account just happened to be holding Bitcoin yeah and actually the dollar dollars are gone too involved the the currency accounts in the banks were also um how much was that there's some dollars missing I don't know it was a a lot less 50 stole my money too man it was a few million it was a few million or maybe tens of millions but but it wasn't like hundreds so yeah here's the thing like um you have a Bitcoin wallet right MH that means you control the keys and that's the essence of Bitcoin is that individuals control them they don't have a bank they don't don't have their money in a bank where someone else has custody of it and then they just have a
little IOU node that says you have this much in the bank and maybe we'll give it to you when you come to that was my next question so Mount gaau did not have individual account Bitcoin accounts for the users they took the Bitcoin and then put it all into one of their own accounts and and managed it so they took it out of the security of each person having their own keys and instead collected all the money in one big wallet wow that's crazy why would they do that what's the benefit of that well um there is this instinct to implement the same types of centralized banking institutions and here's the thing when you have that much money under the control of an individual or an organization Society then builds all of these regulatory institutions because they figured out that when you do that those institutions those organizations those individuals steal the money again and again when you put one person in charge of the money they steal the money I me that's what power corrupts absolute power corrupts absolutely and there is no more powerful corrupting influence than money so when you have people who have millions in their control bad things happen someone just [ __ ] off with it they just figure out a way to do it right or they're sloppy with their security and somebody else robs them but in either case all of the banking regulations we have are to stop the fact that individuals control too much money from stealing that money Bitcoin is a different solution the idea is instead of collecting all the money in one big bucket you have each user controlling their own money you don't put it in a bank you don't concentrate the risk and that way you don't need all of these elaborate controls because you don't take the control of the money away from the individual you leave it in the hands of the individuals well Mount coox took it away of the control of the individuals but then didn't have any of the regulatory institutions that we traditionally have in banking so they weren't using the Bitcoin security and they weren't using the traditional banking regulations and audits to protect them they were in this gray area in between where they had all of the control over the money and none of the protections what the [ __ ] that's ridiculous that's that is a very fascina
gross incompetence as well I mean like really really bad management a really bad coding really bad technology use just gross incompetence of an unbelievable scale I mean you think with all of that money hire some competent people but the incompetent started at the top well you look at the guy at the top in his dumb fat face look at that [ __ ] dummy look at that that guy's never been good at anything I tell you what right now guy with a dumb fat face like that and if you have a dumb fat face and you're smart I apologize I apologize right now I have a dumb face too he plays Magic the Gathering yeah he doesn't just play it he owns a [ __ ] online exchange well he actually bought it from someone else how much did he pay for it I I don't know I mean there was some kind of I this goes way back in the early days but here's the thing uh Mark carelis the the guy you just showed in that photo let's call him big fat face sure um so I don't I don't know him personally I never met him but he provided a really critical service at a time when Bitcoin desperately needed it he provided a market where people could buy and sell Bitcoin in a transparent way and for the first time you had Bitcoin pricing you could figure out how much of Bitcoin was worth because there were lots of of people trading it and therefore the price that they settled on over thousands of Trades was price Discovery you need that in a market to function so now you had a price and for many years the empty gox price was the price of Bitcoin um all right so we let's stop calling them big fat face but then let's call him poor bastard okay so poor bastard starts out good starts out good everything's going great he helps out a lot of people by letting them establish a price for yeah which would made a huge difference for Bitcoin I mean there was the first time you had a liquid Market where people could actually trade not just face to face but but could exchange uh various currencies for Bitcoin and that was incredibly important without without empty gaw bitco he's essentially the just a symptom of a growing Market that he just wasn't prepared for like as if like here's a perfect example if I was running something okay I'm a dummy like when it comes to computers I'm a real dummy so if I was running some of online
exchange and somehow or another it started trading Bitcoin and then I saw started seeing hundreds of millions of dollars I I would I would have to bring people in I would have to bring in like Financial experts and coding experts I have to try to Security Experts I'm busy as [ __ ] man I wouldn't probably do it right I would probably [ __ ] it up just the way poor bastard [ __ ] it up yeah so can't really blame him except he got his finger out well here's the thing there's [ __ ] you back buddy there there's a chance you know we don't know if if this was just gross mismanagement or also fraud I'm not going to go as far as say poor bastard because there's a good chance that he he hurt a lot of people very badly and there's a there's a chance that he was culpable big fat face you find out but but at the same time it it's a classic story of someone who um was in a situation that was way over their head and then they tried to handle it without asking for help and then it snowballed and they tried to cover up some mistakes by Mak to cover up by making bigger mistakes and then bigger mistakes and then bigger mistakes how did he try to cover it up well once uh so some money was taken uh in an earlier incident from the system and then I think he tried to cover up the lack of money by essentially generating more fees from from the customers um and you know paying for the previous loss by bringing in new customers and trying to stay ahead of the loss which by the way you've SE we've seen this again and again that's a Bernie made off move essentially was running a mini pyramid scheme right and and pyramid schem of it pyramid schemes are very rarely intentional nobody starts out to say I'm going to run a pyramid scheme what happens is they they take a bet they lose on that bet and then they try to cover up the fact that they lost by bringing in more people and they're like as long as I stay ahead of this is not going to bite me and then it gets bigger and bigger we saw that with that Trader in um I think it was uh one of the SW Swiss banks um who was who was essentially trading bigger and bigger bets in order to cover up previous mistakes and getting further out until eventually it all collapsed and we've seen this happen again and again it's really uh trying to cover up an early
Mistake by making a bigger mistake and then it snowballs well the I have seen legit pyramid schemes I had a guy uh was a coach at a boxing gym Tred to talk me into a pyramid scheme I mean he was describing it in the dumbest way ever he was describing a pyramid scheme he's like he a bunch of people put the money in and then uh hey I got money out that's how I got these rims on my truck and I was like what are you doing he's like you you invest you know you put money in then new people come in and then you know you can take money out and the new people comeing I go it's a pyramid scheme do you know what you're saying like he didn't know what a pyramid scheme was well um I learned that lesson in seventh grade yeah it's a very where my school buddies were running a little um Candy pyramid scheme a candy pyramid basically it was candy it was um what you call like the we had one of those uh Cantinas where you could buy donuts and things like that so it it's kind of like a dut P pyramid scheme based on the school Cantina um but but they actually drew it on the on the Blackboard as uh as an airplane where you sit at the front and then two people sit behind you and then four people sit behind you wow and then it was kind of like it was called the airplane and it was basically a pyramid scheme that some kid had heard from somewhere and introduced into the class and then our teacher sat us down and said this is what a pyramid scheme is and this is why you're not allowed to do this in the school it does seem doesn't it seem like you'd want to like find out where that guy is now I mean if he was doing that with candy back then what a [ __ ] creep presid of Avon I would like send him a thank you cardb Life Financial education I mean what a valuable lesson to learn early and then not fall for it again that is so true yeah especially because you got to see it in an actual form not like some sort of abstract lesson that someone's teaching you get to see it actually play out you're like oh I get it 800 people in the school it Fizzles out pretty quickly you run out of suckers really really fast right so it only lasted I think about two weeks before the whole thing Came Crashing Down but but it was a fantastic demonstration in real life in a closed
controlled environment and the only losses were really to the uh collapse of the local donut economy that's funny my the guy who came up to me I explained to him that it was a pyramid scheme and he still tried to sell me on it he's like yeah no I'm telling you you should do it you should put your money I'm like what are you saying like did you not I just explained to you what this is is a pyramid scheme you know what a pyramid scheme is like people get ripped off hey you're not going to get ripped off okay I got to go yeah but this was a pyramid scheme almost like just to cover up incompetence and then it sort of snowballed like a lie that that you couldn't help and then that lie you may have a bunch of other lies to cover that lie and then well keep in mind I'm speculating this is based on the information we have right now we've seen that there were a couple of failures early on and then it seems like he was trying to cover up for those we don't know yet or not he was a part of it as well right we don't know how much was stolen by outside people um he certainly did try to cover losses that but we don't know if those losses occurred because he lost uh keys to to to bitcoin and essentially lost the money or if it was stolen or if it was embezzled or if it was whatever we don't know and there's now parallel prosecutions happening both in Japan and in the United States to find the answers to that here's the interesting thing we're going to find out the answers to that because Bitcoin uses a public Ledger and there's forensic uh evidence sprinkled in the Bitcoin transaction Leisure that allow us to track uh exactly what happened this is the most transparent Financial system so we're going to get some really interesting answers so we'll be able to find out who has it we um not really but we're going to be able to find out what happened and when it happened I mean you can what happened when it happened but you can't find out where it went and you can't track it IP address right can IP add you can't track IP addresses through Bitcoin you can or can't can't you cannot cannot no you cannot um so there's no way to figure out where that stuff went where the Bitcoins went right not really not really but you can see when it went out of accounts that were
known to be controlled by gaws and and so you can rebuild a timeline here's the other thing that's not going to happen Mount gox didn't get bailed out um Mount gox didn't get 0% interest loans from a central bank in order to pretend they're solvent when they're not Mount goau didn't make deals with other Banks to cover up their losses by collateralizing them in cdos Mount goau didn't get to acquire some of the failing Banks add them to their asset sheet and then pretend that they were not failing Mount Cox didn't get to bail in all of the customers of Bitcoin across the entire economy Mount go didn't get to hyperinflate the currency in order to save themselves but destroy the economy no all of those things happened after 2008 hold on a second what you're s saying sounds exactly like what went on with our economy yeah what hold on wait a minute up wait a minute is this guy in trouble oh yeah yeah can where is he he might exactly he might be he might be one of the few examples of Bankers going to jail really yes which doesn't happen very often it really happens in two cases it happens with the two two small fish uh who can't get out of the the hook of Justice him the hook of Justice I love it or uh it happens for those who steal money from very very rich people can't do that Bernie mad off didn't steal PE didn't steal millions of mortgages from people no he stole money from very very rich people you can't get away with that I see um do you think that is this guy in hiding like is he no he's in he's in Japan right now there's a extradition requests they know where he is I believe so yeah how has no one killed him I mean you would think that this guy with hundreds of millions of dollars like every step that guy takes he must be looking over his shoulder does he still look like that IID shave my head and grow a big tape beard yeah well first of all Japan Japan has um very very few very low incidences of uh violent crime uh there's not too many weapons around the the culture is not like that and then the other culture which is uh well Geeks like me I mean you know um I trying to attack someone and cause them harm I'd have to reach for an asthma inhaler four times in the process of committing a crime but it seems like a guy like you could figure out a way to code an app
for your phone that controls a drone that shoots missiles I mean I would I would think you'd people like you'd be the worst people to [ __ ] with not motivated enough no I don't know but you're not motivated enough but you didn't lose hundreds of millions of dollars to this cat like what if you had a100 million do in that 800 plus whatever it was that disappeared if $100 million you know whatever plus or minus was all yours you would be [ __ ] bloody Furious and there are a lot of people who are very upset and very hurt by this situation and a lot of people who lost a lot of money including uh it had a ripple effect you got to realize that uh many Bitcoin businesses had money in accounts there so that loss then affected the cash flow of of other Bitcoin businesses that suffered and Charities many Charities that lost money in in MTG oh wow so a business like say like uh one that I keep hearing about is Tiger Direct Tiger Direct which is a pretty huge uh computer company over overstock.com both both of those use Bitcoin yeah um that's interesting Overstock keep hearing good things about Overstock yeah they generally don't have much exposure because they don't they here's the thing people who are using it as an exchange so when you have excess Bitcoin move it in there sell it for dollars move the dollars out you just in and out right versus storing the Bitcoin there as a wallet uh and giving them full control of that then just leaving piles of bit coin there those were the ones most affected and some of the day traders who had to have piles of Bitcoin there so that they could trade very quickly those were very affected but people who just moved money in and out you know maybe they lost that day take and and if you look at it Merchants like the ones you mentioned uh they don't leave stashes of Bitcoin around they're going to exchange that pretty quickly they're going to move out of the exchange if they're smart so they exchange it for dollars and then they move okay now um how much can you actually store on your phone like your phone like if you wanted to store a million dollars wor a Bitcoin could you put it on your phone you could store a trillion dollars worth of bitcoin you could store whatever you want I mean there's no would you lose
your phone Jesus [ __ ] Christ you'd have your phone connected to your wrist and all wrapped around your waist with chains and yeah that would be a supremely dumb and bad idea to do but you can make backups of Bitcoin which you uh can do with regular money you can have multiple copies you can encrypt those copies so you can do a lot of things to protect yourself against loss can you have sub wallets like can you have like your main wallet and then like have like a sub wallet that has a completely different like passcode or way to get in have a bunch of wallets right yeah you can actually make a whole tree structure of wallets so why didn't like this this company this MK or whatever it's called yeah why didn't they just have a shitload of sub wallets you know to protect each individual user instead of putting it into one is that that that goes to the gross incompetence I was talking about earlier so that's not how there are other businesses who also have custodial account over Bitcoin and they Implement very smart systems to segregate Bitcoin so for example on a daily basis they will sweep 95 to 98% of the Bitcoin off into uh wallets that require three out of six people to come together to unlock them with the key separated on separate devices um and those systems are very difficult to break right right because you need collusion between multiple people and that protects both from external theft but it also protects from internal compromise a malicious Insider or um embezzlement fraud even by the CEO sometimes so there are ways to to get around this you can have good security practices and all of those good security practices were completely ignored by Mark so he's a [ __ ] no matter what yeah so the question really now is gross incompetence or fraud and we don't know but in in either case it's bad it hurt a lot of people but in the end it had nothing to do with Bitcoin it was a classic bank failure of the traditional kind that it was the result of the fact that they fell in a a gray area where they didn't have the protections of Bitcoin and they didn't have the regulations of a regular bank so this guy lives in Japan did he move to Japan when the [ __ ] hit the fan or was he there the entire time no he was he was
there the entire time so he's always lived in Japan that's where mty gox was based yeah oh interesting okay empty GA I love it and so empty gaws now is insolvent is it done I mean there was some they were trying to do some kind of structured thing and then uh I think it was four or five days ago the Japanese authorities decided to decline and force them into liquidation so they are now done mty gox is over the one thing we can say about mtgs is that they can no longer hurt anyone else that's the good thing now this gentleman who runs it or ran it he he's walking on the streets he goes places he's just like a regular guy do they follow him I have no idea I think he's he's under indictment I don't I don't know what his status is so he's under indictment from America and from Japan correct there and there's a warrant for him to come to the states okay so um it's not as gangster as if he robbed a bank and held it up with guns like they're not they're not going after him with like a SWAT team and dragging him back but most likely he's [ __ ] we'll see yeah most likely yeah I mean I I I would be surprised if he doesn't face some kind of uh um serious consequences you weren't that concerned though about this in the overall scheme of things for Bitcoin you thought this is just sort of a bump in the road that eventually it would be overwhelmed by the sheer positive benefits of cryptocurrencies well I mean I think the the thing is that it didn't really affect Bitcoin itself it wasn't a weakness to bitcoin it was in fact a very strong argument for why you need to decentralize financial institutions because when you centralize them they fail in exactly this fashion that's ex that's what we're trying to change about financial services make them more decentralized diffuse the power so it can't be corrupted and and compromised um there are going to be more I'll tell you right now there are going to be more bank failures both in Bitcoin and of course as they happen every single year by the hundreds there are going to be bank failures in every currency including Bitcoin there are going to be CEOs who run away with the money until we Implement better solutions to control the power so for example if you've got a startup and they're raising money in Bitcoin you don't give all of the keys
to one person you you split them among multiple people so that one because the person you think you know who's your cherished partner in this uh Venture and you've known all your life and your childhood friends um when they have access to a couple million dollars they change people change they're dramatically and radically affected by money and then all you need is a precipitating event an illness in the family a crisis you know a a bad thing happening to that person and they will grab that money and run people make very poor decisions and they they'll tell you that hey man I needed it right and they'll rationalize it or they'll make a mistake day trading and making a loss or losing some of the money and then trying to cover it up whatever it is you know my advice to bitcoin companies is when you're starting out look at the person sitting next to you and do not assume you can trust them assume that people are fallible and then put in place controls so that no single person can run away with money and then you're going to be much more secure and everybody will be able to be above board David Seaman who was on the podcast last week had a really interesting take on bitcoin that I I thought was kind of funny um he was saying that if if Bank like Bank of America for say if they were smart that they would get involved in Bitcoin Co he was like you already have this established name brand like cryptocurrencies are going to be here they're they're they're they're here to stay this is his take um he's like why wouldn't you capitalize on the name brand that you've already built in on and get in on the market quick get in on it now in the early days and establish like that Bank of America like still has uh like a footing in in this as well as in regular money and he was like it would be a really wise investment I think you're going to see that happening um in short time really um we saw this with the internet which was at first the telecommunications companies fought tooth and nail they could not believe that a decentralized uh packet switch Network like the internet would deliver quality voice and quality video they wanted to build highly controlled and structured networks um and they tried to fight it because it it threatened the long-distance Market
which was very lucrative it threatened many other markets today three4 of all international calls happened on Skype three quarters three quarters that's that's a market that a few you know two decades ago was a 1520 billion do market and disappeared um and essentially they had to restructure operations now they made up for it the Smart Ones became very good as Internet service providers and created whole new businesses that replace those lost revenues so so what happened there is you have these telecom companies trying to fight it until some of the smaller ones some of the ones that don't have solid entrenched positions and can take advantage of size think you know what maybe I'm going to cut off from this herd and go play with that Bitcoin a bit and as soon as that starts happening there's almost a stampede because everybody tries to rush into it that's what happened with telecommunications the smaller provider started peeling off from the herd and instead of fighting it they started trying to build service providers uh so it's really just a matter of who runs first someone going to start running and then right and then the herd breaks apart because until the first one breaks everyone's like well we're too serious for this Bitcoin stuff and they're looking over their shoulder trying to make sure that everybody else is also staying away from it but eventually the market Dynamic changes so it's just essentially it's just human nature like with human nature there's just certain rules that are just always going to be into place play hard to get and Follow the Leader those are two big ones yeah and Bitcoin threatens some business structures within the banking industry it it's going to make it difficult for them to charge exorbitant fees to do International wire transfers when you can do it cheaper just like if you have Skype you can't justify $3 a minute longdistance calls right and but at the same time the smart Bankers are looking at this and they're saying yeah but if we have a cheap efficient secure payment system we can build some really interesting things on on top of that and create whole new businesses that are very competitive that can actually give us a lead so we out outrun the herd the you know disruption in a competitive market is actually very um very enticing
to the to the second and third tier players because they don't have an advantage they're too small to compete against the big guys but if they see this disruptive technology you think well maybe if I hit your ride on that I'm going to overtake everybody um and you know I can be the Blockbuster or I can be the Netflix I can be the Tower Records or I can be the iTunes and we've seen this happen in technology races before yeah that's fascinating how people some people just don't want to Buck the Trends they they don't want to go along with the flow of things or they want to Buck the Trends they want to somehow or another figure out a way where you know they can prove everybody else wrong and VHS is making a comeback and you know renting movies is still valid you know there's there's a lot of those [ __ ] out there that just won't let it go like radio companies change is scary yeah it is scary but that's that's uh that's the nature of the Beast especially today I mean we're involved in the craziest time for change the world has ever known yeah um there are at the moment being on the top of an industry especially an industry that's involved in technology is a very precarious position you know if you talk to um Kodak a decade ago do you think they would they would realize that suddenly the largest vendor or manufacturer of cameras in the world would be a telephone company Nokia Nokia within 3 years became the world's largest maker of cameras and suddenly the entire industry changed right and how do you compete against that they're not even in your industry they just came out of left field it's like you're suddenly the horse buggy manufacturer and Ford is taking your business and you never expected that was going to happen well Nokia has a camera phone now a Windows phone that is some insane amount of pixels it's like 40 [ __ ] megapixels or something something crazy 41 41 megapixels says Jamie Jamie's on top of that [ __ ] 41 [ __ ] megapixels on a phone I mean this thing I think has I have the Note 3 I think it has 12 or something I think no it's better than that are you familiar with Mo's law yes so so for for your listeners to Mo's law it was created by Gordon Moore for pro processors right processing speed and
yeah and what he said was that he estimated because of the way silicon works every 18 months the speed of a computer would double or the price would drop by half and that has been true now for more than 25 years wow and and that thing then plays out in camera megapixels in storage on SD cards in the size of the of your smartphone in the a number of sensors you can put into the smartphone and it's battery battery life is the one that's lagging behind and it's the main thing that's holding back this technology Moors law also applies to things like Bitcoin it also applies to networks like the internet and what it means is that if you're in an industry that's established and suddenly you have a competitor that's coming at you with the power of Moors law you better watch out because your it's not a matter of whether you will be able to compete in a decade it's a matter of whether your industry will still will exist in a decade right right yeah isn't that fascinating that whole Industries can just vanish 150 years of Kodak and then suddenly film doesn't exist gone in a decade do you remember when you used to have to pay money for long distance you know longdistance calls don't exist like you can call New York right now on your home phone and it's regular call on your cell phone it's totally normal like if you used to call long distance on a cell phone it was an exorbitant amount of money Saturday afternoons London pay phone when I was a student I would go there with a stack of coins that was probably about $10 worth in today's money I would sit in a pay phone and my family would know what time I was going to call coordinated I'd call in there'd be a line of 15 relatives sitting standing behind the phone on the Athens side and it' be hi Mom I love you very much hi Dad I love you very much hey sis it's all awesome okay next Aunt Aunt Maria and Julie and you know London's awesome and I'm stuffing coins as fast as I can into this pay phone and then you know four or five minutes later $10 down the drain and I've said hello to the entire family and that's all I could afford wow that was my experience and now you could Skype for hours for free and is that crazy you could look at a video of each other talking to each other through your laptop for free mhm wow fascinating
fascinating times and when you put it in that kind of a perspective you really sort of understand the change the just the ability that we have to reach out to each other is just unprecedented in human history it's never been even remotely close to what it is now I saw somebody walking down the street the other day Skyping with someone while they were walking down the street and they were talking while they were walking down the street they're like yeah so we're gonna BL and then the other person's on the other end I'm looking at their phone I'm like this is crazy they're doing it through a cell phone connection I'm doing that all the time now yeah walking down the street through a cell phone connection streaming video back and forth to each other it's amazing amazing what do you think about things like is there a reason why Apple doesn't have any apps where you can exchange Bitcoin they have some Bitcoin monitoring apps correct they've they've basically banned any apps that allow you to run a wallet to do transactions is there a reason for that I mean is there like can you find like a logical if you try to take Devil's Advocate there's there's three or four reasons and I can give you them from the obvious to the to the cynical and paranoid um first of all I think they are worried about this strange technology that they don't know anything about and they're worried about what kind of reputation hit they'll take if one of these apps is compromised um and causes their customers to lose money right uh more worried than Google who allow all of these applications on Google Play so it's not a legal thing because Google hasy too and they're quite happy to allow Bitcoin applications and apple does not like it that's the obvious answer um then there's another thing when whenever you spend money on buying an app or buying something inside an app Apple takes like 30% so their own payment system through the App Store and iTunes and all of these things generates an enormous amount of Revenue because they take a very big cut of these things now if you could put a wallet in a phone then you could also put a wallet in an app then
you could also do Bitcoin transactions in an app then why give Apple 30% cut if you can just bypass them and do all the payments through that do you think that that's ultimately going to be Apple's demise though I mean if you look at you want to talk about like people that had a grip on a market and then it slowly Slipped Away Apple had an enormous chunk of the smartphone market just a few years ago I mean they had the majority of it now 80 something per of the smartphones are Android phones that's crazy I mean that that's quite amazing and the technology has surpassed them now you have several choices with Android phones that are waterproof big giant ones the Sony Xperia you could throw it underwater for a [ __ ] half an hour like 5T of water for a half an hour I mean the the Galaxy S5 the new one water resistant you can take a shower with it and listen to music you you could put a [ __ ] stuff it in your underwear and literally shower with the thing on I mean fingerprint sensors they had them first on iPhones but now Samsung Galaxy's S5 has a [ __ ] heart rate monitor I mean there's they're just they're ahead of the curve like the the Android phones aren't playing catchup with apple anymore now they're bypassing them and I wonder if that's going to happen with things like iTunes the exchanges things right now it's convenient to use iTunes but once I switched over to Android um I found a thing called double twist where you could uh send your music to your phone you could use iTunes with this thing and also I found Amazon MP3 which is just as easy to use if not easier than iTunes iTunes is a horrible application I can't stand it it's like you put it on your Mac and you get a pin wheel every time you click on anything especially if you have a large collection it's and it hasn't really changed or improved much at all um but it does ask you to accept the terms and conditions every time you sneeze uh so you have to click on that thing it's like listen Apple I've accepted the terms I haven't read them no one's read them but I accept them I accept them forever just give me a check box that says from now on until the end of time I accept I accept please stop just yeah do a retina scan every time I look at your app assume I'm accepting um I like iTunes for some things I use it
still to buy movies I use it on my laptop exclusively I use it in my home computer exclusively like if I'm buying music I buy my music and I buy it all through that but on my phone it's just as easy to buy it through Amazon it's very simple it's not it's not like some new thing you have to learn same process you search a genre search an artist oh I wanted to buy like we were in The Green Room the other day at the Orlando Hard Rock me and Joey Diaz and Joey Diaz goes on this epic rant about lead Zeppelin uh lead Zeppelin 1 cuz there was a poster on the wall that I took a picture of and I put it up on my Instagram and it was the first tour poster from lead Zeppelin In 1968-69 and we were like could you [ __ ] imagine what that must have been like to experience like Zeppelin for the first time like back then like and he Joey was going off about how it blew people away so listening to him I get inspired I go to my phone as he's talking within like 10 seconds I type lead Zeppelin in the search boom it's downloading 3 seconds after that bam I'm playing the album I mean like wow that's crazy I put it on speaker we sit down and we start laughing about how easy that is to do and how amazing this music is well yeah exactly Apple um changed the way we think about music changed the way we think about phones um and created all of these new technologies but here's the this happens again again in technology it's part of the let me give you the context by the way iTunes store is not loading right now just to show you pin wheel so it's beenin Wheeling right now I clicked it as you as you brought that up I said let's see and I clicked it it's [ __ ] not loading so what happens with technology again and again is that you always have to make this trade-off do you want to have an experience that's very tightly controlled and therefore consistent right you combine a very limited set of Hardware very limited set of features but what you get is that it works every time consistently and then you can have this kind of Wild West situation as you do with Android and at first it creates a lot of fragmentation and everything's inconsistent and it doesn't work very well but over time here's what happens the controlled situation that gave you the advantage at first starts lagging behind Innovation because it can't
change fast enough and the wild west starts getting better and better at quality until eventually it wins and we've seen this happen over time and then the the control situation has to open up the borders again again let everybody flood in do a lot of fragmentation and experimentation and the cycle starts again that's going to happen too I mean we're we're going to see much more openness in music we're going to see more openness in phones as a result of this and then Apple will have to actually go out and invent something new um instead of just you know small incremental changes this apple shit's bothering me man bother me bothering me what it's 52% uh Android and 41% uh is uh Apple really did I read that it was 80 that's uh I read 80 somewhere and uh Apple still has sold more uh applications it's uh Apple has sold 50 app 50 million apps I think or something like that and Android it's so up to 48 million apps total sold what's bothering you about it uh man I say 81% man on CNET CNET says Android dominates 81% of the world smartphone market yeah that's the global versus I think what you quoted is us and it's a very different Market us well let's look at it GL so as much bigger Android pettion okay that's what I read I was in Vancouver this weekend and I had to use my Android phone completely only using my Android phone no no iPhone at all and it I do not understand people that say that the Android phone is better in anyway the camera was horrible I tried to take so many photos using that camera and this is the Note 3 that has like a really nice camera that camera is a piece of [ __ ] all all all Samsung does is add a bunch of crap to their phones to be the first but they do it so half ass that it just doesn't work like that's like you keep on saying that's the the heartbeat sensor and the the thumb print thing is one of the worst implicate implic like the the thumb print in the new S5 is horrible people are saying it's the dumbest thing ever that it never works it it's just a piece of [ __ ] well that's exactly the compromise you either have control and tight quality but it's slow or you have speed but it's it's uh you know at first it's flaky yeah and I I would be the first to rec say hey you're right you know this iPhone is a piece of
[ __ ] I still buy all the newest phones just because I'm looking just like everyone else to find something better but man I you can't break this thing being quality like it's always working you have the best photos you can possibly get all the apps are perfect I definitely agree with you on the photos there's a big difference between the iPhone photos and the uh Android photos I think the sensor like the the the sensor on the iPhone is a lower megapixel but much higher quality it's just better phone but um like what is a megapixel on an iPhone it's like eight eight um people forget lenses and things like that which make a huge difference Carl Zeiss lens it's um it's actually 13 megapixels on the Galaxy Note 3 but it's not as good it's it's fine is if the light is good are you talking Jamie you know you don't have a microphone on you [ __ ] I can't hear you what are you doing why don't you make sign language at me can't hear that either um the uh there's I mean I think there is a better camera than the iPhone but it's not the Note 3 I think there is a better one out I'm sure there is a better camera but I'm just saying's let's find out what's the best let's Google best smartphone camera I bet Apple's in the top too there was also a report saying that you know why it's such a big share is not because of quality it's because of price that that Android users are more poor and they get more technology for the money so that's why it's become so popular because all the poor markets are buying it so it looks like Android's just destroying Apple in that that regards but it's not meaning that it's a better product best smartphone camera overall iPhone 5S it's the mass Market uh audience especially in in Asia where you can get an Android phone for $50 to $100 instead of3 to $400 equivalents for for an iPhone image stabilization and dual LED flash you got one of the best phones for taking pictures in low light or any situation Apple has improved its camera app for the 5S what's the difference oh it does like photos there slow-mo pictures I tell you one of the coolest things I I think you could do this on Android also it's burst mode but but being able to just and I didn't even know I had it if you just hold down the camera it just takes a million photos so like if you're like with like say like
you want a picture of Joe Rogan you just hit sit there hold down the camera it will go and take like 300 photos of you and then you can just choose which one you didn't blink and stuff like that I do miss the camera that's one thing I missed but I don't miss that little [ __ ] screen that little screen's a joke June that's all you have to wait yeah allegedly but that's a 4.7 one the 5.5 one's not going to be for a long time yeah it's September so says you what are you a Mac Insider who the [ __ ] do you know boy and this humongous iPad's coming out yeah that's all good dude but this I'll take it every day I'll take that all day it's not important the camera is not nearly as important to me as being able to do my email go online everything plays like flash anything that has flash on it plays no problem I I that to me is gigantic when I look at a YouTube video and it's that goddamn big to me that's huge and also the stylus I [ __ ] love this thing are you kidding me man yeah I never use every time I use a Styles like I'm just wasting my time why am I why am I doing this well I I use it a lot for writing my jokes right that's that's interesting that you do that too because that's it seems so much I don't know like I'm just so fast on the keyboard that yeah I mean it's not the fast thing for me it's a memorization thing when you actually write things physically with your hand you can remember them better yeah and this took um I for a long time I was still bringing the notebook as well but I gave up on the notebook I do it all on this thing now I tell you man since this iPad iPad Air I've been taking my iPad almost everywhere and now I don't give a [ __ ] about my phone this is just for texting you mean pad or my I my iPad my iPad yeah this thing's so light and like you could just keep it everywhere and like if you really want to surf the net you know even the new one the small one the yeah that is a good move but you can't put it in your pocket yeah I don't just I you know I honestly just don't trust the the the apps in the App Store and the Google apps and the back doors and the hack hackability of the operating system I to me I think this is the way the iPhone is just a a brick and it's like your important stuff your text messages and your your crap like that
should have the highest security not something that that's so easily been hacked in the so right here this comparison between control quality but slow Innovation versus speed Choice fragmentation but flakiness and weird security problems and Cutting Edge that choice is playing out um in many areas of Technology whether it's and and this Choice played out on the internet at first which was the idea that the internet was a far inferior Network to the carefully controlled if you like it the phone companies were doing the iPhone of networks right and the internet was like the scrappy messy Android of networks but over time it continued to innovate and get better and the other systems got slower and slower and less Innovative and so the close systems have that problem they lag but they offer you much better control and quality and security at first so here's the thing that's been happening in finance and in finance it's much worse because the closed control systems of the banks have existed for hundreds of years and this Scrappy new Bitcoin thing which is not as fast in many cases but fast in other cases has more choice but also puts more responsibility for security it's more flaky it's more Scrappy it's more versatile it gives you a hell of a lot more choice and it allows you to innovate really really fast doesn't give you the quality uh you don't have the you know the controls and security supposedly but at the same time the banking system is failing to deliver to Consumers it's failing to deliver security because people can get away with massive theft on it and so now what we're seeing is this exact same scenario that you described that we saw with the internet versus Telecom networks that we saw with iPhone versus Android is now playing out in finance with Bitcoin that's fascinating they say that the best uh camera for power users is that Nokia noia they had um on uh tomsguide.com is what I'm reading uh they've rated a bunch of different ones I don't know why Tom really knows a [ __ ] but seems like a highly rated site but the 41 Apel camera apparently just is just unbelievable the the photos are so big that uh even when you zoom in like way in like you could take a photo and zoom way in it still crop it and it's
still an excellent photo yeah that's about the only reason why you'd want that many megapixels though honestly right because um megapixels stop people stopped caring about megapixels a while ago for the most part even some of the higher end cameras is kind of stopped even though they could go bigger they I mean it's just not as important as when it was like from one me megapixel the 5 megapixels unless you're making like Billboards or something unless you're making Billboards or you really are just going to spend time just cropping out sections of large photos and even that with a such a small device that's in your hand I would imagine that there's a lot of blur and even if you do crop out little pieces it's still not going to be like something like if you had a tripod and a DSLR or something like that yeah they're saying that the uh Galaxy S5 is a big improvement too from the Note 3 as far as cameras go yeah yeah you get to a point of saturation where it becomes good enough you remember the time when uh you bought a computer based on how many gigahertz it had and how fast it was and you needed to upgrade every year and then we reached the point probably five or six years ago when you bought a computer and then it was still perfectly fast enough four or five years later and you didn't need to upgrade it anymore right or when you used to need a bigger and bigger hard drive every single year and then you reach a terabyte and I you're like well I can store everything so I'm done I don't need anymore right same thing with megapixels you reach a point where at first it makes a really big difference and then it's such a small difference that it doesn't matter anymore you've reach saturation you have to find something else to emphasize some new innovation yeah yeah at a certain point in time it's going to be very difficult for one company like a company like apple to compete with the overwhelming amount of companies that are producing Android phones that's the open ecosystem that's the difference between being able to innovate in multiple places versus trying to control everything and you could really see that too if you pay attention to the original Android phone phones and what they are today as opposed to the original iPhone which was incredibly Innovative like the original iPhone is pretty close to what
they have today I mean it was very similar in size very similar in look obviously the resolution got better the camera got better it got quicker it moves better has more more features but the original Android phones were dog [ __ ] yes they were so bad do you remember Bri did you have one Brian yeah I had the the first Droid yeah God I have one too it was so bad I had it for one day and I brought it back in the Verizon guys were trying to talk me out of it and I go nope nope nope nope nope I'm look take it and they're like well you don't want to bring it back like get get used to it I'm telling you I really like it get this piece of [ __ ] away from me because I had an iPhone and I tried to switch to a Droid to go on Verizon at the time o is that what you had Brian yeah here's me doing a review of the the first one or years uh the phone has a 5 megapixel camera it's it's got a flash the camera is really good it has a washed out R though unfortun and you have to uninstall look at all this [ __ ] you know there's some things about it where you're just like why don't why don't they just copy what works you know the iPhone works that's the best way to delete applications whatever uh so there's a couple things here in there that I what's crazy is that you know down the line more that droids started becoming more unpopular they did start copying everything that iPhone used and that's why they're in court right now Samsung and versus Apple in court yeah what what is the uh lawsuit about do you know the specific uh just a lot of different things like like uh like uh the the unlock screen I think like how you unlock this you know the phone and just different like you know operating system [ __ ] that that pretty much they just kind of just copied that Apple figured out first yeah and so the new iPhone supposed to come out June is that what they're doing June is supposedly like the the new iPhone 6 and then they're going to have the giant one supposedly it's just what they do every year where they announce it in June and then it's like the next month they'll have you know one come out and then the bigger one like I guess and the only reason why they're waiting a little bit longer is because the the panels that
they're going to be using in the new phone are backordered so much because when Apple starts selling something new it's you know it it pretty much just destroys anyone that does that you know like we make 5inch screens well yeah Apple's going to buy five million of these so it it's their screens are different too than like the that was other thing that I was reading about the difference uh like between the ht1 M8 which is like probably the highest rated Android phone right um have you seen that one yeah it's pretty [ __ ] slick even an actual uh Apple website was um uh reviewing the HTC1 M8 and they were saying that if Apple built uh an Android phone this would be the phone that they built it's pretty [ __ ] slick and they actually have a different approach to cameras entirely they have a small megapixel phone that's a lick looking phone apparently the sound on these is incredible the sound is supposed to be amazing like literally it sounds like a little r like a like a little boom box I think that's one of the big deals too that why I haven't been happy with as much as the Android is I really think that Samsung is not actually the best maker of the phones I think like even like these HTC's seem a little bit well better put together yeah well this one is like particularly welld designed but this one only has a 4 megapixel what they call Ultra pixel phone yeah or Ultra picture camera rather and I don't understand that but it has two camera lenses you see what they're doing there while you're clicking back and forth what the two lenses are there's two uh different cameras on the back and those two cameras allow you to blur out the foreground or the background okay that's bad if you so choose to it's pretty slick for photos I've seen the uh the pictures but for megapixels is just the images are just not going to be as large the real question becomes is 4 megapixels enough four phones see I think that's what what's what's Weir is phones are actually taking over cameras I I'm I haven't looked lately but I'm pretty sure that that camera sales especially point and Shooters are completely oh they're in yeah in the [ __ ] I I used to buy them all the time because you know those were great to put in your pocket but nowadays you don't need that yeah I have one that I
use uh just for after shows like where I uh have have people like line up and take pictures with them and then I put it up on my website CU just because it saves time but um the uh the actual need for them for the average person it's almost non-existent unless you're like one of those SLR type people that has a big crazy lens and you know all that jazz I guess that that technology you were talking about like uh bluring the foreground is actually built into the new uh Android operating system that that that whole thing about yeah you can do it with software the difference with the HTC1 is it actually does it with Hardware as well and it's supposed to look Slicker they have that Avail that um ability to do it on the HTC or not the HTC the Samsung Galaxy S5 as well you can do that in the background I just think that what HTC has decided to do is try to do it with two different cameras at the same time so is this the would would you say this is the the the one to do to buy now if you're going to get a new Android or you think the Nexus right the Nexus I love the Nexus I I like the HTC1 too I I have to say I think both of them are great great Hardware Solutions then you have to really be careful about what software is loaded on them because depending on which carrier you get it from they're going to have different quality of software whether it's the latest Kit Kat or an earlier version I I get my phones unlocked I wipe them and I replace the software with my own choices immediately right not everybody does it how hard is that how much timeses it take it's not a matter of I mean it takes me two or three days to get everything done but I mean you know not not much time that's a lot of time man nobody does this stuff listen I'm a I'm a technology contrarian I Android versus iPhone I do Android Windows versus Linux I do Linux even when it's at first dog [ __ ] user experience I do it anyway for the freedom and the versatility and theice you have a Mac laptop and I'm an early adopter on uh Bitcoin and so yeah I I have a Mac laptop and I run you run apple on it or you run something crazy I run apple on it and I also run Linux machines on it too as virtual machines um so I have a combination of operating systems here but you run Linux on an Apple laptop you could do that yeah virtual I know you could do that they
still have that option to run Windows on Mac laptops yeah I've got Windows 7 here too wow Windows 7 man have you used Windows lately that's so do they when are they just going to give up um and start over they're not going to they they still have a giant Chuck of the market yeah I love what they're doing now is that they're actually making money off a still supporting window 98 to Banks like they were like no we give up on Windows 98 or XP and we give up on Windows XP but we'll you know if you want to pay us we'll still do you remember when they had Windows stores at the mall that didn't sell anything yeah they had a Windows store and I went in I'm like do you guys sell computers they go no I go what the [ __ ] are you doing you guys are windows and you don't sell computers well we're Windows we're not computer sellers we're an operating system they they sold Windows you could buy Windows there yeah like who's talking who's running this let me talk to that guy hey dude this is [ __ ] stupid you have all this cool [ __ ] like you should like have a variety of different manufacturers of really cool computers yeah maybe I'm wrong they have now the windows stores now sell everything they have laptops they have all that stuff the surface and and there's still none of it selling yeah you know I'm more interested in these these Android notebooks I saw one the other day I think that's the way to go if you just want a little teeny notebook to put in your you know to check email and stuff like that maybe they did sell computers and I'm wrong I think there were some early Windows stores that didn't it was just more like kosic or no not yeah when I went to one of them that's what I maybe I'm wrong I'm trying to remember because it was quite a while ago but I remember going in my kids were playing with like one of the things that they look at this this article on cio.com four things you'll love about HTC's ones and for you won't what you won't love about the HTC1 M8 Duo camera is disappointing the single most unfortunate thing about the ht1 is the camera the device rear facing 4 megapixel Duo camera with ultra pixel technology stop moving uh two different lenses allows the user to detect and
calculate the relative distance of subjects in the image sounds cool right well except for the measly 4 megapixels doesn't take long to at all to realize that while the camera Works fairly well in dimly lit environments oh so that was the the idea they they kept with a low megapixel to somehow or another have it function better in low environments but then the quality during the day is to be left to be desired so the the what you're going to use it most of the time probably during the day it sucks okay so there's only two options that are really good if you want to go with uh with with phones it's uh that Lumina and the uh the Apple those are the two big ones oh and apparently the Sony Xperia too for cameras the Sony Xperia apparently has a pretty dope camera too so I think the reason they're putting two cameras on the back of the phone which would be interesting is where you get the ability to shoot 3D directly because if you think about it this phone is now wide enough that you can separate the cameras by about as much as your eyes are separated the focal distance and then you can shoot um direct 3D off two cameras well do you remember when they had that for a while they had 3 photography on some of those crazy phones remember yeah wasn't good enough were really weird and it only worked on your phone it wouldn't work on the computer we'll get there the first the first situation is always clui and you but I I like to have the yeah clui what's clui mean it's it's rough it's rough around the edges that's word I've never used is that an English word beho you to start using it's a geek word beho me how dare you how dare you double Urban Dictionary is it oh it's an urban one okay I don't know it's a geek it's a geek term but I mean it's the first iteration of a technology is always flaky but if it's uh powerful and disruptive enough then there'll be an incentive to make it better when when I used the first uh iterations of web browsers they were terrible the first versions of Android they were terrible and guess what the first versions of Bitcoin wallets are terrible but I have choice and I love that I'd love I'd rather be on The Cutting Edge and be dealing with something that's rough around the edges and get to experience the technology as it matures eventually
it will get to the point where it's as easy to use as an iPad which is how my mom got on the internet and Bitcoin will get to that point too to me choice is more important than than polish but for other people they go with the opposite choice and that's perfectly understandable that's interesting man yeah um I agree with you in a lot of ways uh but I think that there's a similarity to um Windows and Apple you know the as far as like Apple phones and you know uh the the whole idea the way Apple locks things down and controls it and windows where they don't and they allow you to get into the registry they allow you to do a lot of things with your computers that a lot of power users like then you break it yeah the average person might it might [ __ ] it up and so do you think that that could possibly have like a rational uh effect on Apple's decision to not have Bitcoin wallets outside of the Commerce oh absolutely yeah so as I said you know the the straightforward one is that it introduces risk in an environment that is deliberately conservative about Quality Security and control over the environment so they're going to be slow to adopt things that are disruptive H and it's also self-serving because it threatens their payment Network and it might be self-serving because it also threatens their ability to introduce their own form of digital currency a digital wallet which there are a lot of rumors that they're in in working on that um I I don't yeah I mean you can take all of those together and it makes sense but it's not a long-term decision because if there's enough momentum behind digital currencies eventually they're going to add them slower than everybody else but they will get there have you thought about the future and looked at like the trends uh the technological trends and tried to extrapolate like what would be the method for exchanging and controlling Bitcoin in the very near future is there like a better version of what these apps can provide on phones that you believe could be implemented sometime in the near future oh absolutely I mean at the moment um you you don't want to have a lot of the raw elements of the system exposed to users who don't want to learn anything
about these so right now there's a pretty steep learning curve if you want to understand digital cryptocurrencies uh just a name alone like cryptocurrencies sounds so awfully geeky and weird but if you want to understand digital money let's start by renaming that right so so digital money if you want to understand digital money um you get introduced these terms public key private key encryption address wallet uh Bitcoin address uh transaction all of these are confusing terms because they don't have mean what they what they what you think they mean so uh a Bitcoin wallet is not actually a wallet because it doesn't contain coins it only contains the keys that allow you to unlock the coins the coins are actually on the network and you get into all of these things where you've picked a name that name evokes a thought but that thought doesn't quite match what's really happening so it ends up confusing rather than enlightening right so a good name is one that tells you how this is going to work because it evokes the correct Paradigm the correct user interface um U design and so we don't have that in Bitcoin yet the words are wrong the terminology is wrong the user interface and user experience is still very very geeky and you know that happened on the internet I remember watching in 1994 there's this uh classic segment on Good Morning America when they're like so so the thing with the ad sign is that the internet no no Kelly that's that's email and um and the dot that's that's the internet and so why are there all these slashes and what is an IP address and I don't really understand any of this right it and you get two two things one the technology gets smoother and more polished and the words get at the same time the culture changes and the culture gradually adopts the terminology so that now people are more comfortable with the weird words and the words have gotten less weird and somewhere in the middle they meet and you get mainstream adoption uh are people working on trying to get any sort of a Bitcoin wallet reintroduced into the Apple App Store because there was one for a while right was there more than one or was one it there was more than one and now there's more too there's new ones have been reintroduced already to the Apple Store
yes absolutely they use a few little um how do I call this loopholes are you um outing them or should we not say their names I won't say their names at the moment but there are ways to do this but then what's the point you're the [ __ ] Bitcoin Jesus if you don't say their names they don't get promoted and they [ __ ] die on the vine they'll get pulled immediately will they get pulled immediately if you say their name it's like an emulator for Nintendo's like pop up almost every day on the store it's like some back door into some like food cooking program yeah if people want to if people want to find Bitcoin wallets for iOS they can search for those terms and find them okay um and essentially the the other way to do it is by building a pure HTML 5 wallet that runs entirely in the browser and then it's not an app you install it's a page you visit but it's fully functional it looks like an application do they have those we're building those every company in the space is building one of those right now to avoid the whole app system y oh to get around the app system and to enable users to use it through the browser and you still have to use Apple's browser though correct you can't use Chrome yet can you can you use Chrome for Apple what yeah yeah they have a Chrome application now they have Microsoft Word now on iOS really so any HTML 5 browser and that's the nice thing about HTML 5 it's the new version of the web protocol and it will run on any browser on any device and it will give you a full applike experience it doesn't feel like a web page it feels like an application that's interesting that's really interesting so that will cut it all out if you can get online then you can get to this web page then you can trade Bitcoin period so exactly and and this is what's exciting about the Bitcoin space for me which is that uh we talk about this idea that we're going to convert dollars to bitcoin like if only say Amazon adopts Bitcoin then all of the stuff they're selling through Bitcoin will now be sold through uh will now be sold through Bitcoin instead of dollars and it's like chewing out little parts of the of the traditional economy and just converting it into a different currency and that is boring it is so not the point that's a bit like thinking
that you know the internet succeeds when all phone calls happen on the internet and we've taken over the entire fax market and now fax is dominated by internet fax and the whole point is that it made fax irrelevant it didn't replace it it made it irrelevant and it didn't replace phone calls it gave people better communication tools and different communication tools I'm more interested in what we can do with Bitcoin that can't be done today rather than replacing the things we already do with dollars or VISA and making a better Visa a better PayPal a better online shopping experience that stuff is boring so here's what's happening within the Bitcoin economy there's now hundreds of startups and they're hiring people we're we have a job fair in Sunnyville in on May 3rd uh where we're going to have hundreds of people and dozens of companies with job open openings hiring developers and designers and marketing professionals and all kinds of things like that now uh for those who are probably new to this Market a jobs fair is this thing that happened before 2008 where companies actually had jobs and would come to you in order to find you and we're doing this in Bitcoin because of this incredible Spirit of innovation that's been Unleashed so if you're an entrepreneur and you look at these rough edges and you look at these difficulties in the system and you look at the fact that it's not ready for mainstream adoption what you see is opportunity massive opportunity because remember at first on the the internet you couldn't find anything so someone said well how about we build a search engine and now that's a multi hundred billion doll company right and search became uh an entire industry out of a single problem and the problem was you couldn't find anything now you can find everything and so at first people said well the internet's never going to succeed because you can't find anything on the internet and smart entrepreneurs took that problem and said no if I solve this problem not only do I make the internet work but I also creates an entirely new industry so right now Bitcoin is difficult to use but if you solve that problem if you take for example the fact that a Bitcoin address is like a 37 character thing and it's unreadable and you hide that just like
we no longer use IP addresses on the internet we use nice and easy to use names we used to use you know 192.168.0.1 and you had to I had a list in my wallet of IP addresses if I wanted to go to the stand website I had to pull out my wallet and look up their IP address that's how it used to work and there was no way that was going to go mainstream so each one of these problems each one of these rough edges is an opportunity to create a whole new industry that does things in a different way that reinvents financial services and that makes them new and Innovative and decentralized and enables things that have never been done before this is not about making a better shopping experience it's about doing things we couldn't do before and eventually people are going to build wallets that are very easy to use and wallets that are going to be very beautifully designed and we're beginning to see that now as all of these startups are rushing in to fill in the gaps to polish all the rough edges and to deliver real quality consumer products that people can take this incredible underlying power of Bitcoin and turn it into an everyday experience that a person who doesn't want to know about any of the geeky stuff about encryption about Keys about all of that simply says I want to send Joe some money and the wallet is Joe money send and all of the rest is hidden in the background and we're getting there and we are getting there and it's it sort of mirrors what's already been done with the internet so people could sort of see the path it's not like it's some completely new thing that's never been done before no one's ever taken something that was unbelievably complex simplified it made it mainstream online yeah they have and they you could see it so with Bitcoin it's like the path is already lit you just have to get people that are brave enough to step forward and that's obviously happening except for one fundamental difference we don't have to lay hundreds of thousands of miles of new copper and fiber line we don't have to build the physical infrastructure because it's already there the internet took you know a decade and a half to spread in terms of adoption and one of the big issues was getting getting high-s speeed internet to enough people
and then getting fully on all the time internet you remember the days of dialup remember modems going be right that's a car alarm dud know now it was impossible to get my mom to do email if she had to first turn on the computer log on double click Start the dialogue do all of this with her phone that made her phone busy so she couldn't actually use it it would drop off sometimes too you connect and sync the email Etc now she she swipes her iPad and the email is there and she doesn't know how it works all of this is always on it's Wi-Fi it's simple boom done that's the progression we're going to see that's fascinating um what are right now as of today what what are the changes in Bitcoin since the last time you were on um there are some really interesting things happening I think so let's see it's been a while you know in in in real life it's been two and a half months which in Bitcoin terms is like 2 and a half years so much has happened is just ridiculous one of the interesting things we've seen is serious efforts and results in building multi- signature capabilities I don't think we even talked about that last time or maybe we mentioned it briefly what is multi signature capabilities so this is a feature that was added to the core protocol the Bitcoin protocol back in nov November of 2013 officially and would work so when you send Bitcoin to someone what you're doing is almost like signing a digital check and you're saying from Joe Rogan's wallet and you sign at the bottom to say yes I'm releasing this money to redb great so you've sent it and the Bitcoin network will look at that signature and say that's Joe Rogan's signature great so therefore now the money belongs to redb you've done a transaction so what your wallet is doing what your phone is doing when it's sending Bitcoin someone is it signing a transaction with your key to to basically say I authorize this um it takes one signature to release the money from your from your wallet multisig allows you to build wallets that require multiple signatures so let's say you were running a company and you wanted to make sure that every single time you made a Bitcoin transaction it had to be signed by the
CEO and the Chief Financial Officer right so now you could say Well it requires two out of two signatures uh the account has two signatures associated with it both must sign in order to do that or you could create a joint account between two spouses and you could say it requires one of two signatures here's the signature of one spouse here's the signature of the other spouse if either of them signs you can do it right um you could create a trust account where you have um either the signature of one spouse and a trustee or the other spouse and a trustee um to sign off for the account of a child for example you could create an escrow account where you say I'm going to sell you Joe something and you send me the Bitcoin and I don't deliver what happens then that's a problem right right you can't get a refund now instead of that you send the Bitcoin to an account that requires two of three signatures your signature my signature and escrow party a third party that works as an arbitrator between us so if I send you the stuff that you wanted and you are happy with it we both sign I get the money right so you've paid me it's like an escrow like you do with PayPal and eBay right now if we have a dispute you call the arbitrator and you say I'm not happy I didn't get this product and you and the arbitrator sign and get the refund send the money back to you but if I'm not satisfied because I really did send you the product and you just don't want to pay for it I persuade the arbitrator that you're cheating I sign it with the arbitrator two out of three signatures get the money to myself so you can create these complex environments where um you can do escrow you can do trust accounts you can have arbitration thirdparty arbitration for refunds so that you can solve problems and you can create more complex forms of transactions that give you better security and better trust that seems um like you would really have to trust the arbitrator and they they would have to somehow or another not being Cahoots with one party yeah so when you use the Visa Network you abide by visas arbitration rules right right so if you do a chargeback and they're going to contact the merchant and say well show
us a signature from this transaction and visas arbitration rules apply whether you like it or not when you use Bay PayPal arbitration rules apply whether you like it or not the means of payment determines the rules of arbitration so that seems like a good opportunity for something like Bank of America to get involved with yes PayPal could be one of the arbitrators if you like oh thank you if you like the uh arbitration rules of that group you could use them here's the here's the interesting thing though what it does is it allows you to say I'm going to have a market of arbitration provid ERS all with different rules and different levels of trust and some of them will have very good reviews because people had good experiences with them and some of them are specialized in real estate and some of them are specialized in um auction markets and some of them are specialized in Antiques and some of them are specialized in art appraisal and so I'm doing a transaction with you and I want to buy an antique I'm going to list 200 antique arbitrators I'm going to pick the one with the highest level of reviews he's an expert in appraising antiques he's going to do a good job for us we agree that's the one we want to use now we've got it opens up all of these possibilities and it creates a whole new market for these services so you've taken trust that was centralized in someone like PayPal you didn't have a choice but to use their arbitration and you decentralize it and now you have a market where the buyer and the seller can decide what rules apply so do you believe that this is very similar to what we're talking about before with banks that one person just has to do it start profiting on it and then the rush will be for all the other sort of join in on the bandw there's already an arbitration Market where lawyers and real estate agents and others are providing arbitration services for a small transaction fee like 0.1% of the transaction in order to provide escrow capabilities and you can do that when you buy something with Bitcoin you can now use escrow and this is all within the last time you were here um the technology was nent and the services were still being built and now they're they're being built faster so that two months really is like two years yeah let me give you another example
which is really cool a lot of people are worried about their Bitcoin being stolen from their wallet because of a hack so one of the ways you can use multisig which is very interesting is to have a two of three account and what I mean by two of three it means it has three signatures registered and you require at least two of those three signatures in order to authorize the transaction you keep one you keep another one as a backup put it print it on paper put it in a safe that's your recovery in case something goes wrong and then you give the third signature to a service that checks every transaction for risk and what they do is when you make a payment they they look at the merchant that you paid they look at their history they look at what kind of amount it is is this usual is it like $10 and you normally spend that or did you just suddenly try to transfer half a million dollars out of your account and wipe it clean to a random address they've never seen before and so based on that they're going to risk score it and then they're going to call you they're going to send you a text message and say we seeing a transaction here you've requested for 25,000 to merg we've never seen before that you normally don't do are you sure you know respond one for authorizing this transaction respond two to cancel it and if it's a really big one maybe they're going to call you on the phone and you're going to speak to Jim and Jim is going to say um can you please give me the last four of your Social I want to check this whatever you can you can reintroduce some of the fraud prevention systems that Banks do but the really cool thing is now that's a market instead of having to do it with your payment provider you can pick who gives you a risk service that's fascinating but it it's sort of along the same lines of the difference between apple locking everything down you know it's secure you're not you're not going to get a virus from an app and the wild world of like like say perfect example would be like a bit torrent you know you [ __ ] download a program from bit torrent good luck son better cross your fingers cuz you never know what the hell you're going to get right so here's the thing I mean by the way these pickles are
goddamn delicious if you want a pickle gorill pickles send us some uh some pickles they're amazing have you had the sweet ones yes they're my favorite you want one can you now can the normal joke go over and buy Gorilla pickles or is there a website or is it just like local [ __ ] only only people yeah no you can get them delivered pickles. comom delivers now they're the nicest guys ever too they came to our show in Boston they were they gave out free pickles to the whole crowd dude brought like a million dollars with the pickles and handed it out to 2,000 people it's all fresh too they take Bitcoin they should Grill those pickles get on the ball [ __ ] yeah you shouldn't really start Bitcoin now right like like if I wanted to buy a Bitcoin I wouldn't want to start now I would wait want to wait because I I'm not going to spend what $500 for a single Bitcoin can you buy pieces of Bitcoin yeah you can buy very small amounts I mean oh you can where do you do that at so most of the uh most of the exchanges or places where you can buy Bitcoin you can probably buy like I think the minimum is $20 or something like that worth okay so you can buy a a 20th of a Bitcoin theoretically you could go and buy a 100 millionth of a Bitcoin if somebody was willing to sell it to you but the usually the it's not worth doing for them that amount um so you can divide it as much as you want it's you do not need to spend an enormous amount and then again the thing is what are you going to use it for if you if you're going to try and use Bitcoin to invest in Bitcoin be very very careful do not take your retirement fund and all of your savings and dump them into this wild ride that is not smart right and I need to say that again and again people don't do that I mean I I've done some of that and it's not prudent but my career is tied to this I'm in the industry this is not for the mainstream investor and it's not really an investment but I'm sorry please go maybe put a couple percentage points of a nicely Diversified portfolio like I'll throw you know $1,000 maybe $2,000 if I lose it I lose it if I don't in the meantime I can play with it I can buy a bit of Bitcoin learn about the technology feel like I'm part of an early adopter thing that's cool don't go putting all your
money in Bitcoin that's not smart what happened to that one dude who had like $9 million in Bitcoin in a hard drive and he couldn't find it so he was going through the dump with a fine tooth comb trying to figure out where that hard drive was do you remember that story yeah well fortunately he didn't buy that Bitcoin he was just one of the people who were involved in mining several years back and then he forgot about it and then he realized this whole hard drive he'd thrown away actually had a wallet which had 7 and a half thousand Bitcoin on it or something like that oh God that's hilarious by the way but it's no loss you're going to have treasure Hunters as a new occupation it's no loss because he didn't actually have it you know he didn't he didn't um but if he had it he would have it it could be a game so it's a loss yes it's a [ __ ] loss man it's I got to keep the dude from committing suicide well um I think it's going to create a whole new treasure hunting business people are going to start um and already we've seen this people buy old computers on eBay go through the hard drives and find Wallets on them yeah or porn or financial information identity theft and stuff yeah yeah you got to be people need to know that too if you get rid of a hard drive you got to wipe that [ __ ] clean you still you have to do more than that like you gave me a bunch of your hard drives I wipe them clean but I still didn't throw them away because I know that there's programs out there that could just do that so now I'm thinking like what do you do just dip them in acid or we should shoot them take them to theot that'll be fun let's do it let's do it all right while we're having this conversation at the very moment we're having this conversation my my watch keeps buzzing every now and then what do you got on your watch that's a it's a pebble it's a smartwatch oh how dare you you're one of those guys well I'm getting Bitcoin notifications of people tipping me over Twitter as we're speaking which is very very cool I'm sitting here and as I say things if if I say something that people like my watch buzzes a bit because people start sending me tips I it's so weird that's pretty cool that's pretty cool and now it's buzzing a lot they steal from you can they be like [ __ ] you can you get
like a negative shock if you say something stupid are you willing to take a chance I I I think that's uh again as I said if you're an entrepreneur There's an opportunity yeah yeah pay someone to wear a shock color that's ridden by Bitcoin what you got there so I got my block I just redownloaded my blockchain uh app and uh and then you know just checking to see I what number am I should I give out if people were like Brian what's your number your address that that this address right here yes the address right there this is there's no dangers of giving people were telling me no it's like giving out your email address better actually because it doesn't reveal any information about where you are or who you are or any of that all allows people to do is send you money sweet and that's nice because you can you can put that on a t-shirt you can put it on a QR code in fact there was this guy who went to a a football game with a a giant QR code they printed and during the ESPN coverage when they were on the jumbo drone they held it up and it said pay for my college or something like that and they made like two and a half Grand or in in a matter of minutes cuz people would see it on TV take a snapshot and send them a little Bitcoin wow why not there's a congress man who went to a recent meeting wearing a sandwich board with a QR code on the front where you could donate bit Bitcoin to wow it's perfectly safe you could publish that you could put it on posters around the city if you want I might tweet it right now that's fantastic that's fantastic Joe so many people asked me for your Bitcoin address so they could send you Bitcoin do you know what it is can you tell me what it is I if you still have the application absolutely yeah yeah we'll give it out we'll see what happens somebody sent me one too and I'm like how the [ __ ] did you even get this it's really funny the the the the watch is buzzing all the time yeah that watch I'm not I'm not a big fan of the Dick Tracy watch that shit's ridiculous I know I I only use it do you know what I use it for most of the time for notifications on tripet when I'm traveling it tells me like and it goes gate change and I don't miss my flight I mean that that's useful yeah I
heard the pebble's the best one out right now still new samung I'm enjoying it a lot yeah what's uh the difference between the Samsungs and the pebble and I don't know I got this as a gift uh and is the only one I've ever used and I'm just still playing with it so here's something weird that happened to me after the first my thing yeah you still got it there looks like somebody sent me one too yeah how right after I got some put this in front of a camera that how will that work people can see the QR code on on your phone you can hold it up to the camera that's pointing at me over there behind you and and that will and uh is that gonna work there you go right there once the yeah once the brightness good stabilizes yeah but you can publish that address and that's uh that's Joe Rogan's Bitcoin address right there and uh hopefully you can say hello to Joe with money you can publish it later you can just copy that how do you get put it in an email if people give me any real money I'll donate to charity by the way yeah just to let you know that's that's always a good thing to do and by the way charity is has become one of the dominant forms of payments in Bitcoin a lot of people are doing a lot with charity and it's because you can send money very quickly you can see how the money is being spent there's this fantastic charity that I'd like to mention which is based in Pensacola Florida where they've made it pretty much illegal to be homeless they first baned sleeping Outdoors then they banned blankets and they try to solve the Homeless Problem by busing them into other cities around and kicking them out of the area wow I support that how do we do that sweet Brian you missed the point the point is that's evil those poor people are poor actually most of them are veterans coming back from the war and having no jobs and having PTSD and no treatment and well I don't know if most of them but there are quite a few 40% is it really 40% of the homeless population in in this country is are is made up of veterans that's a shame that's so uh Jason King from Sha's Outpost Shan's out post.com um started collecting money for bit with Bitcoin and used that money
last year in the first year of the charity to feed 60,000 meals to the homeless people of Pensacola Florida and managed to create fundraising events from all around the world and to convert that money very effectively into food uh for people who desperately need it and that's just one example there's a lot of Charity uh bitg uh the bitg foundation which coordinates charitable giving uh 100 Bitcoin coins which is a charity that will literally give 100 Bitcoins to any charity that wants to take Bitcoin they already have they've raised the money and now they're trying to find Charities to give the money away to how can I um I mean that was just an image that thing was just an image the the the Bitcoin the barcode yeah whatever it is how how do you how would I put that online so I can I can um screens it I've received one screenshot I've received one 0.01 Bitcoin it's already happening approximately $4.2 H 420 oh [ __ ] my phone's blowing up I just got five Bitcoins or five uh donations just from that stupid image that's incredible what if I put that image online how do you make a screenshot with an Android phone well no instead of I can I can send you a QR code that corresponds to your address it's fairly easy for me to generate it you can share that QR code through the application or you can just post the address above it the QR code is just the address it's the same number that starts with a one that long series of digits is just in the form of a barcode to make it easier I need to find out how you screenshot with a Galaxy Note 3 I use mine there's different ways you can do it mine I just swipe my hand from left to right on over the screen yeah and a screenshot but I think I I chose to do that through the settings H there's got to be a way right yeah uh there is but there's got to be like an easier way yeah there like a button press or something like that open settings motions and Gestures oh that's the only way to do it huh it's that's S5 doesn't always work the yeah before we're done with the show uh I'll get that barcode ready for you you could post it on this show and see what happens okay you press the power button and the home button at the same time power button so how did he get
how did he get that cool bar on his the barcode yeah you just touched the barcode on the home screen of your app okay all right I'm going to it will make it bigger I'm going to send this image I'm going to put it on Instagram and then we'll see what's up let's see if this does something if you uh click on the receive button red B yeah and then I think it's one of the tabs at the bottom and then when you do you've got the yeah the problem is they won't let us make new iPhone applications it'sing behind go at least they still let me download it though because I got a new iPhone the other day and and it still let me download the old program off the iTunes Store oh maybe because you already had it on your iTunes yeah if you already own something you're still allowed to redownload it for somehow H really yeah so even if it's gone yeah that's interesting yeah it's kind of like so people that spent money on something they they still own that product so they can't really take it away okay I just instagrammed it which means it also went to my Twitter and my Facebook so almost 2 million people have access to that image right now let's see if my phone explodes I've I've I've had that happen with an explo so let me tell you a great story of uh fundraising using Bitcoin uh did you hear about this story with Newsweek where they came out and said we found the creator of Bitcoin tooto yes that's the thing I wanted to talk to you about most today great that poor Bast I have a great story for you exactly about what happens and we've got a video online to share as well okay so I was at a conference the morning I found out about this and I looked into it and a lot of people in the Bitcoin space are interested in who satosh Nakamoto is there's been a lot of research I think we should leave the person alone and it's probably not going to be good to find out who it is because all it's going to do is smear that person they're going to try and smear him so I I would rather not know because it doesn't matter the math is what matters not who it is but people are obviously curious um when I found out about this uh person in the Los Angeles area that was fingered by Newsweek as uh Satoshi nakodo then uh and by the way I don't want to create more publicity for this
poor man because he is not Satoshi and it's been become abundantly clear uh we've got a lot of writing by the original creator of Bitcoin and it doesn't match any of the style of It's Beginning my phone constant vibrate right now listen listen it's just constantly vibrant make it happen Bitcoin Community I'm counting on you that's all Bitcoin coming in right now yeah dollar dollar bills yo that's awesome uh Justin Ren fight for the Forgotten you're getting all this money dude Justin Ren our pal that's in the Congo I'll send thank you that's great exactly yeah he um he's uh a great guy who's living in the Congo right now and he uh builds Wells for these pygmies he gets the medicine this poor guy has gotten he's gotten horrible diseases while he's been down there he had Denay fever he almost [ __ ] died and uh he is dedicating his his entire life to do this so I will uh I will donate all of this to my friend Justin and it's going to keep coming in so holy [ __ ] dude this is nuts it okay so the this is pure mag you want to feel my phone dude sit can I sit on it put it up your ass I have a hungry ass so it's coming in this is ridiculous there's a big Community out there and they're very generous yeah no they most certainly are I'm not kidding ladies and gentlemen I got about a hundred donations in the past minute wow and you didn't keep up you didn't need to make any arrangements with these people they didn't there was no banks involved there was nothing it was just direct from them to you boom charity happening in real time yeah this is crazy it's cool yeah I this is madness man can't to steal some people are donating real money too so you can't steal my Bitcoin dude are you a hacker what are you doing I've received donations that um in some cases exceeded $3,000 in a single donation for for a charitable cause that's incredible wow okay there people are sending me like 20 bucks it's crazy yeah like there's a lot of them man not like a few like a lot of them that are like 20 bucks cuz it tells you what it is approximately Yeah by today's standard when it when it pops up this is nuts man I better shut my [ __ ] phone off I'm going to run out of battery just Clos the program uh on Samsung you have to hold
it down turn it to the left manager I know all that how dare you don't [ __ ] shut up dude you don't know [ __ ] [ __ ] you're an apple Fanboy you know that how about that I'll just turn in mine you're [ __ ] Apple fan do Mine by just going there done ah [ __ ] you well I can no you task manager you just press close all you don't even have that option on the iPhone suck upon it you don't even have a task manager [ __ ] you can't just shut them all off what's that noise yeah somebody hacked your [ __ ] they started playing gay music what's that bitcoin's face the cover of Newsweek so this is a story that Newsweek broke about that guy about that guy uh in Los Angeles um and here's the funny story so his name is Satoshi nakoto actually it's uh Dorian peral Satoshi nakoto he doesn't go by Satoshi he goes by Dorian um and he's not he's not the creative of Bitcoin there's no doubt in anyone's mind at this point news Wick [ __ ] up big time and they got it wrong and worse they doxed him as we say on the internet they produced pictures of his home address and his car registration plate and so he got swamped and not just by journalists got swamped by crazies by uh really crazy dangerous people who suddenly thought he was a rich person and wanted a piece of the action um it was a really horrible thing to do very irresponsible journalism and I I'm a very big supporter of free speech and I think I am as well but really responsible about that kind of a thing right if news week does crappy journalism they have every right to do that and we have every right to call it crappy journalism so that's how you call it crappy journalism that guy deserves to sue the [ __ ] [ __ ] out of them won't work not not in this country not in California you why not first amendment is very powerful but you outed a guy you gave his home a dress out and you were wrong I feel like for sure he should be able to sue you don't think he I think it won't be effective is especially because the California has the anti-s slap statues the against strategic lawsuits for against public participation it it's really strong protections for the First Amendment especially with journalistic organization you have to show malice you have to show that he's not in the public interest you have to show deliberate harm and he has to show damages it
wouldn't work here's the point here's the important Point what did the Bitcoin Community do with that they immediately said how can we help this man people said let's buy model trains he really likes model trains let's send him cash and some people started saying let's do a fundraiser let's do a fundraiser let's do a fundraiser but who's going to do the fundraiser need someone trusted in the community and I looked at this and I thought I really don't want to get involved but this guy really deserves a break so I started a fundraiser two days after this story broke I created an address which started with one Dorian a Bitcoin address a vanity address and I said let's do a fundraiser for Dorian and in six hours that morning we raised 30 Bitcoin and that's $15,000 and over yes and over a period of one month we raised uh 50 Bitcoin 47 some Bitcoin for Dorian uh um that's incredible he can move now and it really started pouring in like exactly what you saw just now let's give it out on air what is it what's the address okay yeah let's uh let's post it on air I'm sure he would like some more um I also got the video pulled up if you wanted to watch let's play the video Let me let me just say what we did next which is um we need to make sure we got this money to the right person and I couldn't do that because a lot of people came to me and they said I'm and give me the money like no you're not I'm not that stupid the only thing I knew is what he looked like so I visited him at his home yesterday and completed my part of the deal and gave him the fundraiser and I haven't announced this yes I just did a posting with a video and he made a little video for us so I'd like to play that video is for the Bitcoin community and while you're doing that I'll pull up his address so you can do some more donations beautiful beautiful recording okay and we can do as many as you want I'll edit it out it it hasn't been edited yet it's still in process the editing don't worry it's a bit rough afternoon Bitcoin Community thank you very much for your support throughout this ordeal that I'm still fighting and um I would like you to um see this this magazine which came out uh in April there'll be uh no actually March
14 issue with this here the Bitcoin face the mystery man behind the cryptocurrency and I'm not Satoshi Nakamoto as portrayed as a Creator my name is Dorian Satoshi Nakamoto and of course if I was a real Creator I will never use my real name so from that point of view I'm sure you guys would know that's a to Nakamoto is not me but Leah thinks so and Newsweek said so but it's not true Okay I uh received the Bitcoin account from Andreas and I'm very thankful for you all these people in US Europe in Asia in Africa in South America who supported me throughout thank you very much I want to H hug you with 2,000 of you who donated and I'm very happy each one gives me a tech in my heart thank you very much and I would like to further state that I'll be one of the Bitcoin us Bitcoin Community person who would contribute even if it's a little part of this world for good of humankind as Andreas and many other of you uh end over to make the world a little bit better for everybody especially for poor people thank you and I'll keep my Bitcoin account for many many years and hopefully I can also contribute as you did to me thank you that's so cool that's so cool I love I love his sentiment I love what he just said you know that you could tell that's not a that wasn't a canned speech that that guy was really touched yes it was a it was a he is really sweet uh really sweet person and this wasn't fair what happened to him but the Bitcoin Community came through with uh a really great fundraiser that that will have a material impact on this person's life that's so cool and and do up some of the damage that was caused by irresponsible journalism and I I can tell I mean I spent three hours with him he's not Satoshi nakoto the creative Bitcoin no question about it I mean just setting up his internet connection was a huge struggle is that his uh Bitcoin address Brian yeah um can can you um text me that so I could put it online or email
me that so I could put online absolutely I've emailed both did you send it to me nope I will please send it to me and I'll throw it up on Twitter right now too um with the story explaining to everybody who this uh gentleman is and what went wrong that's sad that they decided to go ahead and print that story with no you know substantiation they're still they're still sticking by the story they're still saying we got the right person how can they do that and and it's so obvious to everyone who's got half a brain cell what does this gentleman do for get involved he's retired he used to be involved in I mean I I don't want to I don't want to intrude in his life any any further he just wants to be left alone uh and by the way he now has access to this fundraiser so he can he can use this money but um yeah I mean they they they basically intruded into his life and violated his privacy and most importantly handled his personal information IR responsibly um but in the end the Bitcoin Community came through with generosity and Grace and and charity and and that's the that's really the big thing about Bitcoin is there so much charity going on in this space I think that's beautiful and it is cool that the Bitcoin Community came through but what drives me crazy is that this long established journalism Outlet would be so irresponsible not not long established this is being purchased the name has been purchased by New Management has nothing to do with the previous management oh news week really no no this is completely new people running under the same brand when did this happen and now you know exactly what kind of quality journalism they put out which is yellow trash so they're just trying to make money they're just trying to sell magazines at whatever cost do you think they knew that this guy do you think they're sticking by their story because he can't prove it do you think they're just trying to not be responsible for their actions or not be you know financially responsible for any damages that he might have suffered they make money either way they make money they make clicks either way the more controversy around it it doesn't really matter at this point that's very
disappointing so this is a new thing people that have bought Newsweek this is fairly new yeah this came out on uh the 14th of uh March I mean the the purchase of Newsweek yes this is their this is their launch edition oh this is what launched with not going back this is what they launched with you can't you can't go backwards on your first issue of a new launch because that would make you're like oh yeah we suck now it's a stinker their first edition was an absolute stinker oh what a bunch of Dick bags dick bags oh it's so gross I'll never buy a Newsweek I'll tell you that not you can't do that you can't do you can't push a guy's [ __ ] home address out there and pictures of them we'll answer Dorian yakamoto when his lawyers writes us what I like that guy [ __ ] you you got to know man you got to really be sure you can't just accuse a guy especially in the midst of all this chaos with the mount gaau collapse and and the very real physical danger that is implied by first uh saying that someone has a lot of money which he doesn't and uh inviting all of the crazies to visit his address by publishing it yeah they were saying he was worth insane amounts of money right like $9 million or something something [ __ ] crazy like that9 million what was it the the real Satoshi could be uh controlling up to $500 million what in Bitcoin at current price so he could hold it I mean he might have that much a million Bitcoin he might have himself he might have a million Bitcoin yes what that's that's the estimate that Satoshi Nakamoto has a million Bitcoin okay but is he real is there a Satoshi Nakamoto is there a guy let's say let's call Mr X there is a real Mr X well I I'd like to think that um um well she is real she okay he why not she why not who knows they she I I I usually say she's at one of the conferences so make sure you treat all the ladies right because one of them might be Satoshi could you imagine so hot yeah imagine if Satoshi was just a really smart scarleton looking [ __ ] I mean the the you know you can say it's a pseudonym so it could be male female doesn't matter course could be several folks right and I think the most likely explanation is that it was a group of uh researchers but it doesn't matter it really doesn't matter but if it is that
group of researchers that group of researchers is in control of $500 million worth of bitcoin potentially potentially in control because we don't know what's happened with the keys none of it has been moved none of it has been touched so they just sit on it and prend it's just sitting there will Tesla be the first car that you could buy with Bitcoin I don't know if you probably can already I think they there some dealers are selling a bunch of cars for Bitcoin I wouldn't be surprised dealers are selling cars for Bitcoin a bunch of Lamborghinis have been sold for Bitcoin already the [ __ ] out here buying Lamborghini apartments and property and uh planes and there's a there's companies that you can trade it in for money so like you could pretty much buy anything with Bitcoins with an exchange awesome and Virgin Galactic um sells uh seats on their flights to space uh for Bitcoin and they've sold seven already people are going to space with Bitcoin allegedly going to space they might just get launched on the end of a bomb that [ __ ] is going to have to fly for a long time before daddy goes to space I'm so not interested in being an early adopter of the [ __ ] spaceship it's not really space either according to Neil degrass Tyson he thinks it's kind of yeah he thinks it's kind of a goof to spend $100,000 to go like a little higher than a plane and look down and then drop back down again well you do go to zero g yeah and so I think it's interesting because it's that reusable re-entry capability which is revolutionary and the way they've done it is very Visionary beran well no doubt about it Richard Branson's a bad [ __ ] no uh no argument there I just think until you can go to the Moon you can go [ __ ] yourself okay that's what I think or until you can go Zoom around a few you know hang out there for a day you know sit in a luxury Suite on the top of the Earth look down you can only go there for like a minute and then you got to come flying back down again right isn't that the idea behind it yeah I I I would agree the ultimate goal is to the Moon to the Moon Alice have a nice like Hotel there like a like a really nice hotel that you can stay at for a weekend or something yes a moon Hotel like G zero g swimming pools zero
g sex how about that facials in zero g squirt she's ducks like she's in The Matrix you would have uh well I guess it would still Propel it would probably go on forever if you could stick your dick outside of the spaceship and just shoot one into space it would just take off forever but it'd be frozen instantly girls on a rag instead of being on your bed it's floating around your whole entire room that's disgusting yeah what if she squirts yeah yeah you don't want to have sex how do we get to this conversation this is The Joe Rogan Experience Podcast that's how we do things over here I'm sorry I mean uh we're going to help you promote Bitcoin but we're not going to change the format no no I I'm loving it no worries um so Lamborghini doesn't take it it's like a third party thing is that how you dealers who are selling car dealers dealers that are taking that crazy risk accepting Bitcoin well yeah how crazy is the risk listen you get a lot a lot of publicity in marketing and then you take the Bitcoin and you convert it the same day to US dollars so you don't get any exchange rate risk and what's the difference nothing that's good point that's a very good point I mean what a lot of merchants are doing I I kind of see it but man you you would I would put a tap on it you know if it was my dealership I'd say we're allowed to sell one a month with Bitcoin everything else has to be with good old American dollars backed by Blood and Eagles you you can't uh you can't just [ __ ] you can't just Bank the whole thing on these these weird digital currencies I I'm I bet I'm going to be sending Justin Ren a th000 bucks by the end of this day yeah it might be a lot more than that I know I'm going to have to decipher it I'm going to need your help yeah after this podcast is over we're going to have to go over how much I need to write a check for but I'm going to leave the the money in there though so if you keep sending it to him he'll he'll keep getting money um what else has happened in the last two and a half months besides these uh really fantastic innovations that uh that you're excited about well there's there's the whole environment which is weird in terms of media and regulation it's being good news bad news good news
bad news bit of a roller Coter you were talking about China's Banning it not Banning it Russia's Banning it not Banning it Vietnam's Banning it not Banning it and this is really funny because of course the countries in which these Iron Fist banss are happening are the countries where the rule of law is least respected it's so true right right so it's like Putin banned it well you know what hard dollars were banned in the 80s in in Russia you couldn't you were not allowed to have foreign currency hard currency throughout the Soviet Union um it was banned very very very seriously banned guess who started stuffing their suitcases with hard dollars first the polit Bureau of course and then the Army generals and then the cops and then all of the people who in those countries are above the law and then the people who are below the law then bribe the people who are above the law in dollars of course um to also hold dollars and the whole thing becomes a mockery Putin is like a gigantic Russian version of John Gotti you know he really is like you remember how Gotti was like so flamboyant about the fact that he was the head of the mob like there was the heads of the mob before Gotti were like real secretive there was that guy Vincent the chin ganti or however you say his name who would walk around the neighborhood pretending to be crazy he would wear a bath robe and slippers and and you they wouldn't even like say his name cuz they he told everybody that everything was being tapped all the time so don't ever say my name when you're talking about me point point to your chin so people would just like go and you know is not going to take that he's going to you know he's going to want to do something for our friend so you know that's a good idea they' point to their chin cuz his name was Vincent the chin gajan or Gigante or whatever the hell it was but um but then Gotti came along was wearing [ __ ] $10,000 suits and you know just was an obvious mobster and had obvious Mobsters with them and there was public hits and all this crazy [ __ ] and everybody loved him cuz he was the face of the mob this Putin guy is sort of like that in a way but on a crazier scale because he's running a whole country I mean he's essentially just
grabbed the whole country and and and not just that here's the little secret I think the the thing that most people Miss is the elephant in the room and that's gas prom that's what natural gas natural gas gas prom so basically they've nationalized the gas industry the gas industry then supplies uh natural gas which which is uh one of the ways that we've avoided the impact of peak oil and energy constriction that is killing worldwide economies right now because oil's gotten vastly expensive but gas got cheaper because of fracking and other things and gas prom produces most of the gas in the world so much so that they supply all of Europe with natural gas and they Supply them through pipelines that go through which country Afghanistan the Ukraine and Afghanistan and various other places but the line of pipelines uh gas are the hotspots of war and Civil War and occupation all across um Eastern Europe and right now there's this huge power play going on uh around the Ukraine and a lot of that has to do with the routes of gas and it's and it's a massive geopolitical power play between uh world powers and Putin can basically say we just doubled the price of gas in the Ukraine which is exactly what they did I think they quadrupled it in fact which plunged the country into a recession and then they said to Europe you know you don't threaten us with sanctions we're going to turn off your gas and if you do all of you are going into recession because that's the only form of cheap energy you have are we going to go into World War II is that it seems like some weird [ __ ] is happening Japan is upping its military now its Navy is getting larger and larger by the day and uh they're they're changing their whole policy as far as how they deal with other countries because China is encroaching on a lot of these islands that Japan has been controlling and it seems to me like more and more every day that powers are moving into position to dominate portions of the world and it just seems it seems like some [ __ ] is about to happen the era of cheap energy is over and the world has to reshuffle to accept that fact uh cheap peak oil changes everything you can't sustain the same uh consumerist behavior in developed countries and uh that together
with climate change it's a it's a combination that creates upheaval all around the world and at the same time you have the world's worst currency crisis in three generations and we are currently living through the most significant currency crisis with dozens of countries suffering from hyperinflation with their currencies about to collapse um Europe and the Euro hanging from a thread the British Sterling hanging from a thread and the US dollar going crazy with Printing and into that environment you now have Bitcoin it's it's a really interesting time to live in because there's so much change going on is an escort service that accepts Bitcoin yes Brian is very excited now did you put up your Bitcoin address yeah we get you should say that I'll Don it it all to Justin Ren you'll donate it all to cookers Corvette to all yeah so I'm glad we didn't get very far with a conversation about empowering the poor and discussions about the good Bitcoin can do before Brian dumped us into an escort site all well and good it's nice to empower the poor but guess who else is poor hookers yeah they are yeah um no I see what you're saying I think that's cly the best way to do it one thing that you can say about that particular case is that um women in those professions are are exploited by by the men who take that down Bri you can't do that you can't just sneakily post that put it on your Twitter you [ __ ] put it on your Twitter and I'll retweet it okay sorry yeah you're right they're exploited and this all the money all the money flows to The Men Who control and exploit them right and so Bitcoin is being used already in in many cases for women to be able to keep control of their money so it can be stolen by pimps and exploited exploited boyfriends and and uh Hustlers and all of the other criminals who are around them who take advantage of these women so actually it is quite an empowering technology even in that particular occupation or related occupations I was having this conversation on Twitter and people were teasing me so I did a uh a um what a satirical shot I said look I'm going to start the same business I'm going to post a a half shot of me and I'm going to make people
pay me to stop because I'm a pasty middle-aged male and nobody wants to see that [ __ ] and I'm going to donate all of the money that I raise and now it's it it went viral on Twitter it's me uh doing a Miley Cyrus impersonation of licking a hammer which it's just like from here up topless it's not that's a smart move but I I raised and and I'm pretty proud of that photo because I ridiculed and exploited myself and raised 6 $100 which I donated to the rape and incest national network which is a network that helps exploited women uh extract themselves from the abusive environments and gives them shelter essentially it's like a Underground Railroad to to get them away from people who are uh exploiting them or abusing them badly that's awesome you know one of the things that we've talked about on this podcast before and I think applies here is that there's there's a certain morality to a lot of these big tech companies and to Tech in general that I don't think exists in a lot of other Industries and that there's a lot of companies that are coming up now tech companies that are founded by very intelligent very educated people who also have pretty strong ethics and I think that's rare for for businesses to have like like a fairly established trend of ethical consideration involved in their business practices and one of the reasons why I think is because no one understands transparency more than people that are really into the internet no one understands the Imp ation or the ramifications rather of your actions whether positive or negative more than people that are that are on the internet what are you looking up at is doing I'm waiting for redband to pull up some embarrassing photos any moment any moment do that do you have that embarrassing photos the the picture that he was talking about oh no no don't don't no oh thank you see see he's being really nice to me today thank you he sweetie nice to everybody he's always nice believe me I did read though I was doing some research about the IPA thing because that's the only thing I did have but there is some people saying that you could find the IP if you were devoted to it like meaning if I really wanted to find out what your IP address using the Bitcoin currency I could just probably figure it out if I was really detailed
about it no you can't um I think that's that's entirely wrong because um if you were doing transactions uh those transactions would be communicated across the uh peer-to-peer Network kind of like bitor and they spread through that peer-to-peer Network in such way that you can't even Trace what the transaction happened but in your particular case you're not even doing any transactions um there is no way to associate a Bitcoin address to an IP address unless you're monitoring that person's specific communication so for example if someone's monitoring your laptop they can figure out your connected to that IP address but guess what if they're monitoring your laptop they already know that it's not so hard but just monitoring the uh Bitcoin Network you cannot associate addresses to bitcoin addresses to IP addresses I'm putting up Dorian nakamoto's I I retweeted yours Brian and uh contribute to Dorian Nakamoto to how do you spell Dorian Dorian r i n and KN aoto yes exactly as you hear it do you know who Dam Kaminsky is a chief scientist for DK he wrote in 201 11 that you could uh do that and that's what I uh was basing my findings on he said that unless you are very careful in the way you use Bitcoin and you have the technical know how to use it with other anonymizing Technologies like tour or i2p uh you should assume that a persistent motivated attacker will be able to associate your IP address with your Bitcoin transactions yeah so get my IP address Dan's Blackhawk uh black hat 2011 talk yeah and and that's not they're they're not not associating the IP address the Bitcoin address because it's in the network what what we're talking about there is a determined attacker who's uh conducting surveillance of the entire network and has the resources to track down what's happening and so people say that Bitcoin is anonymous but in fact it's not it's pseudonymous and Loosely pseudonymous that means that if you conduct activities with Bitcoin that associate your Bitcoin address to other things like for example you use it to buy something and then that something gets shipped to your home well now you tied that Bitcoin address to your physical address right or um I have a
donation address that I publish everybody knows that's my address now if I take money from that Bitcoin address which my donation address and I move it into my wallet that I use to spend on other things now everyone can track that step by step and know well that's my wallet and then track everything that goes out of that wallet so I have to take some basic privacy precautions to protect against that now would there be just because like it's kind of like an account number I guess like at a bank like you you said now is there technology or is there hackers that can take knowing your your account number and recreated in a program that makes it seem like you are that person and uh like transfer money out of that account no because the the address itself is essentially one part of an encryption key MH and the other part of the pair of keys the private key is the thing you have on your phone wallet right right that's the secret that's the thing that allows you to sign transactions and the whole basis of cryptography of encryption systems is that you can't go from the public address to the private secret you can't go backwards you can go from the private secret you can recreate the public address but you can't go backwards that is the whole basis that technology is the same technology that's used to secure a banket n works it's the same technology that's used to secure tomahawk missiles it's the same technology that's used to secure everything and so um you can rest assured that the cryptography at the core of Bitcoin is solid because it's used across all of the other Industries so you'd be better off like hey you want to charge my phone on your laptop and then you just uh download their phone and then re-upload it on your phone and then you have their wallet you should provide so that's why you have a blueprint so that's why you have a password on that application so that if you if you steal the data of that application it's encrypted and you can't see the keys that are underneath right that's what the pin number and password do and I have a secondary password that also prevents from spending specifically for spending all right man you want to do this again in three months I'd love to it's about three years in Bitcoin
time a lot of things will change um I really appreciate every opportunity I appreciate as well I mean you're very very informative we've never be this educated about this stuff if it wasn't for you and I think you do a huge service to not just the Tech Community with this but just the general population giving them an understanding of what this is all about there's so much misinformation and confusion about it I mean we had just Brian and I two [ __ ] Dunces sitting there staring at your other trying to figure out what it was before you came along so it helps us tremendously and I I think uh what you're doing is is it's it's Brave I mean you're getting paid through Bitcoin it's Noble you have using it in great ways I love what you did for Nakamoto I I just posted his uh Bitcoin address along with an article explaining what went wrong and how he's not that guy and um I just think it's cool as [ __ ] man and uh I'm honored that you're a part of this oh thank you so much and and what I'm doing is I'm just expressing my enthusiasm for this space but let me tell you a couple of quick stories okay about why this was awesome okay uh after the first Joe Rogan Experience um suddenly I had people everywhere coming and telling me that they got into Bitcoin because of that first show because they finally were able to understand it and I'll give you two stories a month ago I was in a Houston Airport I was sitting down having lunch I was in transit between flights I'm sitting there and someone sees my watch and they go is that the new Pebble I'm like yeah it is you can write applications and what kind of applications I said well the application I have on here which is pretty cool is I can check Bitcoin addresses like Bitcoin addresses oh that's pretty cool yeah I said you heard of Bitcoin yeah I've heard of Bitcoin hey hang on a second is your name Andreas antonopulos I'm like yeah were you on the Joe Rogan you're the reason I bought Bitcoin I got involved in Bitcoin after seeing that episode and I was just blown away I mean this like I'm sitting down for lunch in a Transit area in a restaurant I'm not used to being recognized that way so the better part Monday yesterday I land at LAX I go to Enterprise rent a car to pick up my car I get into my car I drive
to the exit I hand my driver's license and Rental ticket to the booth guy at the exit and he takes a look at it and he goes Were You On The Joe Rogan Experience like yeah you're the reason I bought Bitcoin you're the reason I got into Bitcoin and I follow you on Twitter and The Joe Rogan Experience got me into Bitcoin this story has repeated a dozen times for me and not just from 15,000 people on Twitter who started following me after the first show uh and who got excited about Bitcoin but complete strangers in the street and things like that and yes I get my share of crazies and stalkers and all of that and it doesn't matter because the vast majority is such a positive experience and what everyone says is that you asked really great questions you asked the every man questions the question everybody wanted to ask the simple questions that to try to understand and grasp this topic and and for me that was a a a wonderful opportunity so thank you thank you listen the beautiful thing about having a podcast is nobody brings anything thing on the show that I'm not interested in it's not like a network demands that I interview this guy who's on this sitcom or something like that if I'm talking to somebody it's because the subject is fascinating and that it's actually something I'm truly interested in and that's not having all those sort of like ladders and steps that you have to climb to put content out is really what it's all about and in a way that sort of mirrors what Bitcoin is it's cutting out all the steps that are unnecessary between human beings interacting with each other whether it's exchanging money or exchanging ideas and information it's essentially it's a lot of it is along the same Trend and it's all along the same lines yeah let's get you let's get you selling your products on on it and the other sites with uh we make it happen bitcoin.com yeah oh by the way higher prime8.com has new [ __ ] in uh higher prime8 we just restocked it we have a bunch of new uh t-shirts in now and we have uh JRE t-shirts that are the logo that's on my um on my Twitter page that's the the newest one both uh in color and in Black all right we're out of here you [ __ ] uh we'll see you guys uh next week follow Andreas Antonopoulos on Twitter please and my podcast let's talk bitcoin.com yes and
is it on um is that on iTunes as well yes it is let's epodes do you have out there 100 we just celebrated 100 episodes since April 100 episodes of Bitcoin you're like I can't get enough Bitcoin information yes you can [ __ ] yes you can you can get a 100 goddamn podcasts on it a a n t o n o p that is his Twitter handle a a n t o n o p thank you sir thank you we're honored to have you on every three months right y three months three years in Bitcoin all right and uh we will see you guys next week next week um I've got a a lot of great guests I've got Steve Maxwell world famous strength and conditioning coach he's on Monday dve Vel Greg Fitz Simmons and then next Friday night I'm at the lobero theater in Santa Barbara with mad flavor AKA Joey Coco Diaz almost sold out so don't be slipping Santa Barbara okay uh thanks to our uh sponsors thanks to today was uh Legal Zoom right legal zoom.com did you have something to say are you throwing I was just going to say this Friday I'll be in Tucson with Sam tripy and then Saturday in Phoenix with Sam tripy oh beautiful squad. TV for tick oh beautiful what are you guys doing you doing um uh like clubs out there do Hotel Congress and Tucson which is this really badass like hotel that's haunted stuff like that I heard it's badass I think Doug doesn't Doug live near there yes close you could drive there um not not that close but like an hour and a half or something like that um is Tucson is that place uh how many how many is that seat I I want to say it's like 150 200 I don't know cool and they do shows there in the regular uh yeah yeah dope yeah all right uh Dollar Shave dollarshaveclub.com go to dollarshaveclub.com Rogan that's dollarshave.com Dollar Shave Club dollarshaveclub.com Rogan thanks also to Legal Zoom go to Legal zoom.com and enter the code word Rogan in the referral box at checkout for more savings thanks also to onic excuse me thanks to on it.com o nnit t uh go to onit use the code word Rogan save 10% off any and all supplements okay uh we'll see you guys next week much love big kiss [Music]